BRIDGETON, NJ: The Cumberland Insurance Group has once again been recognized as a Super Regional Insurance Company by the prestigious industry magazine Insurance Journal. The complete listing of 165 companies appears in the May 17 edition of the magazine.
A number of property/casualty insurers call themselves Super Regionals as a way to differentiate their company in the marketplace. However, until 2007, there was no industry-wide, objective definition of a Super Regional. To spur industry discussion on the subject and to give definition to this important group of insurers, Insurance Journal called upon their official research partner, Demotech Inc., to conduct the necessary research in order to develop an objective list.
According to Demotech President Joseph Petrelli, “Insurance Journal came to us with the idea of establishing objective financial standards for stratifying property/casualty carriers. We saw this as an opportunity to bring definition to the Super Regional term and to recognize these insurers for their achievements.”
In outlining the reasons for selecting Cumberland Insurance, Demotech found that “The Cumberland Insurance Group has successfully competed against national and international insurance companies and forged a significant and well-respected presence in the marketplace they serve.”
Criteria used by Demotech included the following:
“The Super Regional list compiled by Demotech and the Insurance Journal is an impressive group of companies who we are proud to be associated with,” said Cumberland Insurance Group President and CEO Paul J. Ritter, III. “For 166 years, Cumberland Insurance has demonstrated resolve and resiliency through challenging economic cycles, maintained financial ratings which place the company among the top performing property-casualty insurance carriers in the United States, and adhered to the basic principle of high-quality personalized service for our policyholders and agency partners.”
“We are very proud of what we have achieved, and are pleased that our hard work has not gone unnoticed among our peers. This prestigious industry recognition further solidifies the Company’s position as a leading insurance carrier, and most importantly, provides our agents with independent substantiation of the Company’s financial strength,” concluded Ritter.
The Cumberland Insurance Group currently serves 120,000 policyholders in the states of New Jersey, Pennsylvania, Delaware, and Maryland. In 2009, the Company had Total Admitted Assets of $323,285,582 and a Policyholders’ Surplus of $133,442,366. For more information about The Cumberland Insurance Group or to find an independent agent near you, please visit www.cumberlandgroup.com.« Back to General News Releases