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UPDATED: Aug 20, 2020
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Company History: Union Insurance, based in Lincoln, Nebraska, is one of more than 30 property and casualty insurance company subsidiaries of W.R. Berkley Corporation, a publicly traded company based in Greenwich, Connecticut, which operates in the U.S. and internationally. Union Insurance Company is the successor to a mutual company formed in 1886. It was acquired by the W.R. Berkley Corporation in 1974. Union Insurance Company had direct premiums written in 2005 of $151 million with the largest contributors being commercial multiperil (accounting for $55 million), workers’ compensation (for $32 million) and commercial auto liability for ($25 million). Texas was the source of 12.9% of premiums written, Nebraska 12.3% and Arkansas 9.6%. Insurance operations of the parent company, W.R. Berkley, are conducted in the following segments: Specialty lines (37.7% of net premiums in 2005), alternative markets (14.9%), reinsurance (16.9%), regional commercial property and casualty (26.3%), and international (4.2%). The specialty segment underwrites complex and sophisticated third party liability risks including professional liability, commercial transportation and surety operating through various distribution channels depending on the particular customers and risks involved. Alternative markets operations develop, insure and administer self insurance and risk transfer mechanisms for employers, insurers and employer groups as well as providing fee based consulting a administrative services. Reinsurance, consists of 7 operating units that underwrite property and casualty reinsurance. The regional segment provides commercial insurance to customers in 27 states (in the Midwest, New England, South-except Florida, and Mid Atlantic), especially small to mid sized businesses and governmental entities. International operations include London and several European countries.
Principle Sales Methods: In addition to its individual operations, Union Insurance Company, and 2 other W.R. Berkley companies, Tri-State Insurance of Minnesota and the Continental Western Insurance Company have joined forces to operate as a group (The Continental Western Group). Together they offer a full line of commercial insurance products operating through independent insurance agents in Colorado, Idaho, Iowa, Indiana, Illinois, Kansas, Minnesota, Missouri, Montana, North Dakota, Nebraska, Ohio, Oregon, South Dakota, Utah, Washington, Wisconsin, and Wyoming.
Auto Business: Commercial auto coverages