AmTrust Financial Services, Inc. underwrites and provides property and casualty insurance products in the United States and internationally. The company’s product mix includes, primarily, workers’ compensation, extended warranty and other commercial property/casualty insurance products. Its workers’ compensation and property/casualty insurance policyholders in the United States are generally small and middle market businesses. The company’s extended warranty customers are manufacturers, distributors and retailers of commercial and consumer products. The company has also built a distribution of extended warranty and specialty risk products, including liability and other property/casualty products in Europe. The majority of its products are sold through independent third-party brokers, agents, retailers or administrators. Segments The company manages its business through three segments: Small Commercial Business, Specialty Risk and Extended Warranty, and Specialty Program. Small Commercial Business This segment provides workers’ compensation insurance to small businesses that operate in low and medium hazard classes and commercial package and other property and casualty insurance products to small businesses. The company writes its Small Commercial Business products in all 50 states. The company distributes its policies through a network of approximately 8,000 select retail and wholesale agents who are paid commissions based on the annual policy premiums written. Commercial package products provide a range of insurance to small businesses, including commercial property, general liability, inland marine, automobile, workers’ compensation and umbrella coverage. Some of the company’s commonly written small business risks include restaurants; retail; office and professional; service industries; schools; hospitality; light manufacturing; wholesale operations; auto service; surety; lumber; community banks; artisan contractors; and not-for-profits. The company administers all Small Commercial Business claims in house. It maintains Small Commercial Business property and casualty claims operations in various of its domestic offices. Specialty Risk and Extended Warranty This segment provides custom designed coverages, such as accidental damage plans and payment protection plans offered in connection with the sale of consumer and commercial goods in the United States and Europe, and certain niche property, casualty and specialty liability risks in the United States and Europe, including general liability, employers’ liability, and professional and medical liability. The company owns Lloyd's property and casualty insurance syndicates that focus on general insurance and provides access to Lloyd's underwriting platform for small brokers. The company’s specialty risk business primarily covers various risks, such as legal expenses in the event of unsuccessful litigation; property damage for residential properties; home emergency repairs caused by incidents affecting systems, such as plumbing, wiring or central heating; latent defects that materialize on real property after building or completion; payment protection to insureds if they become unable to meet financial obligations under finance contracts; guaranteed asset protection (GAP) to cover the difference between an insurer’s settlement and the asset value in the event of a total loss; and general liability, employers’ liability, public liability, negligence of advisers and liability of health care providers and medical facilities. The company’s extended warranty business covers selected consumer and commercial goods and other risks, including automotive; consumer electronics and appliances; commercial equipment; and recreational vehicle and power sports. It also serves as a third party administrator to provide claims handling and call center services to the consumer products and automotive industries in the U.S., Canada, Europe, and Asia. In its extended warranty business, the company issues policies to its clients that provide for payment or replacement of goods to meet its clients’ contractual liabilities to the end purchasers of the warranty u
amtrust financial services
59 Maiden Lane
New York, NY 10038
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