Lancer Insurance Company · Long Beach, NY United States
Company Description
Phone: 516-431-4441
Fax: 516-889-5111
Toll Free: 800-782-8902
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This link will open in a new window Lancer Insurance isn't your average car insurer. The firm specializes in commercial auto insurance for niche markets, writing coverage for clients such as bus companies, limousine drivers, long-haul truckers, and rental car fleets. Its main Lancer Insurance division provides transportation coverage nationwide. The company also operates smaller subsidiaries that cater to customers in and outside of the commercial auto arena. Its D.C. White unit targets small and midsized auto businesses in New York and New Jersey. Nobel Insurance provides coverage to explosives manufacturers, MOPS provides coverage for Coast Guard employees, and Owner Operator DIRECT provides single-unit trucking policies. To read the full description, subscribe now.
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Key Lancer Insurance Company Financials
| Company Type | Private Headquarters |
| Fiscal Year-End | December |
| Employees | 430 |
Lancer Insurance Company Executives
9 executives listed for Lancer Insurance Company's Long Beach, NY location.
| Title | Name & Bio | Contact |
| President and CEO | David Delaney | Network |
| CFO | Alistair Lind | Network |
| CIO | Donald DiBrita | Network |
Competition
Competitive Landscape for Lancer 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 Lancer Insurance Company Competitors
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