Great West Casualty Company · South Sioux City, NE United States
Company Description
Phone: 402-494-2411
Fax: 402-494-7480
Toll Free: 800-228-8602
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This link will open in a new window Great West Casualty Company keeps truckers truckin' across the US. The company, a subsidiary of Chicago-based Old Republic International , specializes in providing insurance and various services for the transportation industry. It offers several kinds of coverage -- including auto liability, cargo, garagekeepers, downtime, and inland marine -- with trucking companies and owner-operators in mind. Through Great West and Joe Morten & Sons offices, the company serves customers in more than 40 states. Great West Casualty also offers insurance products such as general liability, umbrella, and workers' compensation, and it provides equipment financing through Old Republic Financial Acceptance Corporation. To read the full description, subscribe now.
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Key Great West Casualty Company Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 702 |
Great West Casualty Company Executives
13 executives listed for Great West Casualty Company's South Sioux City, NE location.
| Title | Name & Bio | Contact |
| Chairman and CEO | R. Scott Rager | Network |
| President and COO | Hugh Fugleberg | Network |
| SVP and CFO | Gaylen TenHulzen | Network |
Competition
Competitive Landscape for Great West Casualty 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 Great West Casualty Company Competitors
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