Empire Fire and Marine Insurance Company · Omaha, NE United States
Company Description
Phone: 402-963-5000
Fax: 402-963-5329
Toll Free: 800-228-9283
View Empire Fire and Marine Insurance Company Locations On A US Map
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This link will open in a new window Omaha is a long way from Zurich, but they have at least one thing in common: Empire Fire and Marine. A unit of the North America Commercial division of Swiss commercial insurance giant Zurich Financial Services , Empire Fire and Marine (operating as Zurich Programs) sells specialty property and liability insurance to small and midsized businesses. Its products include liability, inland marine, physical damage, cargo, and other coverage for niche auto markets, including auto rental, ambulances, limousine firms, and auto dealers, as well as trucking and waste transport companies. Empire Fire and Marine distributes its products through a US network of direct marketing representatives and general agents. To read the full description, subscribe now.
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Key Empire Fire and Marine Insurance Company Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $11.2 |
| Employees | 503 |
Empire Fire and Marine Insurance Company Executives
2 executives listed for Empire Fire and Marine Insurance Company's Omaha, NE location.
| Title | Name & Bio | Contact |
| President | Craig Fundum | Network |
| CFO | Danielle Galvin | Network |
Competition
Competitive Landscape for Empire Fire and Marine Insurance Company
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 Empire Fire and Marine Insurance Company Competitors
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