Chartis Auto Insurance Review (2020)
Looking at Chartis auto insurance? They offer auto, commercial, home, and travel insurance and have a financial rating of A (Excellent) from A.M. Best.
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Written by
Leslie Kasperowicz
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Reviewed by
Daniel Walker
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UPDATED: Aug 20, 2020
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- Originally known as AIU Holdings LLC, Chartis was incorporated in 1946 as the property and casualty arm of American International Group (AIG)
- In the United States, Chartis does business under the name Chartis USA, Inc
- It is important to note that Chartis and its subsidiaries do not provide auto insurance for individual consumers
Chartis is a global property and casualty firm providing business and personal insurance products to more than 40 million customers on five continents.
Originally known as AIU Holdings LLC, Chartis was incorporated in 1946 as the property and casualty arm of American International Group (AIG). It was re-branded with the Chartis name in 2009.
In the United States, Chartis does business under the name Chartis USA, Inc. It owns several dozen subsidiaries in three states that provide the bulk of the company’s insurance underwriting in the U.S.
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Table of Contents
Chartis Commercial Auto Insurance
A sampling of these companies includes Illinois National Insurance Company, Granite State Insurance Company, and 21st Century Casualty Company.
It is important to note that Chartis and its subsidiaries do not provide auto insurance for individual consumers. That portion of AIG’s business was sold to the Farmers Insurance Company in 2009.
Auto insurance provided by Chartis is offered in conjunction with other business insurance products. For example, the company might offer a client auto coverage for a fleet of company vehicles, but that insurance will not be a standalone policy.
It will be attached to a general business liability policy along with other things such as workers compensation, property coverage, and professional liability.
Chartis provides all sorts of insurance targeted at the transportation industry. In addition to cars, the company also insures over-the-road trucks, light trucks, railway systems, and even marine and inland transportation systems.
The coverage is designed to protect not only the vehicles but also the workers and passengers who use them. More details about Chartis insurance products are available on its website.
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Chartis Agents
Chartis works with producers all over the world to sell and service its policies. These producers, also known as agents, have access to policies from both Chartis and some of its competitors.
Having intimate knowledge of the various companies they represent gives the local agent the ability to find the best policy for their clients.
How extensively Chartis agents are used in the United States isn’t exactly clear, as the company does not provide a means to locate a local agent on its website.
Chartis Locations
The New York address listed above is apparently the headquarters for Chartis USA, Inc. On its contact page, the company has an extensive list of all of the countries where it does business.
Clicking on any of these links provides you with the various locations that Chartis has offices.
With so many countries represented, the list of Chartis locations is incredibly large. So large in fact, that it would be impractical to list all of them here.
If you’d like to know more about a Chartis office near you, you are encouraged to visit its website and follow the appropriate links.
How do I file a claim with Chartis Auto Insurance?
Chartis maintains that it strives to provide excellent customer service and claims processing. The company also says that good claims service doesn’t happen overnight; it is something that is developed through years of experience.
Chartis operates more than 320 claims centers around the world, staffed by 9,000 trained claims specialists.
The company handled more than four million claims across all of its lines in 2010 while still remaining financially viable.
The first place to look for claims information is on your policy documents. In those documents, you’re likely to find instructions, as well as telephone numbers and e-mail addresses for your regional center.
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Chartis Financial Situation
When AIG re-branded Chartis as part of its 2009 reorganization, it was hoped that any growth could help AIG get back on firm financial footing.
Unfortunately, that has not been the case. Chartis revenues were down 2.6 percent in 2010, as compared to the previous year, causing AIG to consider spinning off or selling Chartis outright to a competitor.
Nonetheless, A.M. Best continues to give Chartis favorable ratings for both its current financial strength and its future stability.
For AIG’s part, the profits returned by Chartis for 2010 was supposed to go toward paying off loans provided by the U.S. government.
Regulators allowed AIG to keep the money instead, as a means of shoring up its financial situation. Although things look tenuous at this point in time, A.M. Best believes there is no reason to worry about Chartis.
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