Plymouth Rock Acquires MAPFRE Insurance Company of New York
BOSTON--(BUSINESS WIRE)--Jun 14, 2018--Plymouth Rock Assurance Corporation reached agreement today to continue its expansion into the New York State insurance market with the acquisition of MAPFRE Insurance Company of New York, subject to regulatory approvals. The transaction involves both personal auto and home insurance business in New York. Additionally, certain Plymouth Rock companies also acquired replacement carrier rights for auto and home insurance business in New Jersey from American Commerce Insurance Company (ACIC), a MAPFRE company.
The acquisition follows Plymouth Rock Assurance Corporation’s announcement in April that it had entered the New York auto and home insurance market by purchasing 21st Century National Insurance Company. Plymouth Rock intends to offer auto and home insurance policies to new customers in New York later this year, pending regulatory approval. The company has a 35-year history of providing exceptional service and innovative products and features to its customers, including the Crashbusters ® mobile claims vans, Door to Door Valet Claim Service ® and its Pledge of Assurance ®.
“Plymouth Rock was founded on the idea that our customers should come first,” said Hal Belodoff, President of The Plymouth Rock Company. “As we continue to grow, which is evidenced by our recent entrance into New York and Pennsylvania, and further expansion in New Jersey, our mission stays the same. We focus on new ways to improve our customers’ experience when it comes to insurance.”
New Jersey In New Jersey, Plymouth Rock will strengthen its position by offering replacement policies to auto and home insurance customers of ACIC. Auto insurance policies will be offered by Palisades Safety and Insurance Association, and home insurance policies will be offered by Palisades Property and Casualty Insurance Company.
“New Jersey will always be very important to our company,” added Belodoff. “We’re pleased to be able to expand our presence in the state and bring our unique products and features to new customers.”
Growth across the Northeast With annual premiums exceeding $1.3 billion, the Plymouth Rock Group of Companies writes and manages auto and home insurance in Connecticut, Massachusetts, New Hampshire, New Jersey, Pennsylvania and now, New York. With its intention to write new business in the Empire State this fall, the company is poised for future growth in New York and across the Northeast.
About Plymouth Rock The Plymouth Rock Group of Companies was established to offer its customers a higher level of service and a more innovative set of products and features than they would expect from an insurance company. Plymouth Rock’s innovative approach to insurance, including unique features like Crashbusters ® mobile claims vans, Door to Door Valet Claim Service ®, the Get Home Safe ® taxi and rideshare benefit, and its Pledge of Assurance® put customers’ convenience and satisfaction first.
Plymouth Rock is a marketing name used by separate underwriting and management companies to offer personal and commercial auto and home insurance. Each company is financially responsible only for its own insurance products and actual coverage is subject to the language of the policies as issued by each company.
The Plymouth Rock Group of Companies was founded in 1982 by its Chairman Jim Stone, former Commissioner of the Massachusetts Division of Insurance and Chairman of the Commodities Futures and Exchange Commission. Together, the companies write and manage more than $1.3 billion in auto and home insurance premiums across Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Pennsylvania.
Plymouth Rock gives its customers the choice to do business the way they want – online at plymouthrock.com, using a mobile device, by phone or with one of Plymouth Rock’s agents.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180614005566/en/
CONTACT: Plymouth Rock Assurance
Brad Baker, 617-951-1039
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS NEW JERSEY NEW YORK
INDUSTRY KEYWORD: AUTOMOTIVE PROFESSIONAL SERVICES INSURANCE GENERAL AUTOMOTIVE
SOURCE: Plymouth Rock Assurance
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PUB: 06/14/2018 09:00 AM/DISC: 06/14/2018 09:01 AM