Companion Property & Casualty Group · Columbia, SC United States
Company Description
Phone: 803-735-0672
Fax: 800-274-4974
Toll Free: 800-274-4974
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This link will open in a new window Companion Property & Casualty sells a variety of commercial insurance products, primarily in the southeastern, midwestern, and mid-Atlantic US. Its product lines include workers' compensation, liability, auto, and property coverage. The company does business in 47 states across the US; its policies are distributed through independent agents and brokers. Subsidiary Companion Third Party Administrators provides commercial services such as claims management, actuarial analysis, and employee assistance programs. Companion Property & Casualty was founded in 1984 to provide workers' compensation in South Carolina. To read the full description, subscribe now.
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Key Companion Property & Casualty Group Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $131.8 |
| Employees | 300 |
Companion Property & Casualty Group Executives
9 executives listed for Companion Property & Casualty Group's Columbia, SC location.
| Title | Name & Bio | Contact |
| President | Charles Potok | Network |
| CFO | Curtis Stewart | Network |
| VP Claims | Laura Robinson | Network |
Competition
Competitive Landscape for Companion Property & Casualty Group
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Companion Property & Casualty Group Competitors
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