Liberty Mutual was founded in Boston in 1912 after the Massachusetts legislature passed a 1911 state law requiring employers to provide financially for workers’ health and safety on the job. Still a front-runner in the field of workers compensation insurance, Liberty Mutual has extended its reach to 900 different offices throughout the world, employing over 40,000 insurance professionals. The oldest property and casualty insurance company in the United States, Liberty Mutual today still offers the best of workers compensation insurance, along with personal auto, home, life, and liability insurance, commercial liability and property insurance, and surety bonds. Liberty Mutual is a stable, conservative company, receiving a financial rating of A (Excellent) by A.M. Best Co., and A (Strong) by the Standard and Poor’s Index.
Liberty Mutual is a mutual holding company, meaning that it is owned wholly by its policyholders and its stock is not for sale. As such it is able to set its own quality and underwriting standards, both of which are quite high. Nationally recognized for funding private research in on-the-job safety and its generous sponsorship of Public Television, Liberty Mutual’s underwriting stance is summoned up neatly in its new slogan, “Responsibility: What’s Your Policy?” Liberty Mutual is not a take-all-comers kind of company: instead, it makes money by carefully targeting policyholders with stable financial backgrounds, thus statistically limiting its exposure to loss.
Liberty Mutual does not typically offer the cheapest quotes on personal auto or home insurance, but it does offer fair and competitive pricing on these products. What you get for your few extra dollars spent on a Liberty Mutual policy is an award-winning 24-hour claim service with a stellar record for actually paying claims promptly and professionally, and a respectable company that is financially solvent and profitable year after year. Liberty Mutual was one of the few insurance companies that actually turned a profit the year Hurricane Katrina hit, for the simple reason that it had limited its exposure in coastal Florida and Louisiana long before mega-hurricanes became a national issue. Careful and conservative management has been the Liberty Mutual credo from the start, and the result is an extremely successful company.
If you are looking for rock bottom prices as a first priority, Liberty Mutual is probably not the right insurance company for you. But if honesty, security, and reliability are high on your list of personal priorities and values, Liberty Mutual will indeed, as their mission statement promises, help you “to lead a safer, more secure life.”