Odyssey America Reinsurance Corporation Auto Insurance Review

What is reinsurance? OdysseyRE sells reinsurance which is the practice of selling insurance to other insurance companies to limit financial losses.

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Company Details

Address:

300 First Stamford Place

City:
Stamford
State:
Connecticut
ZIP Code:
06902
Phone Number:
203-977-8000
Year Founded
1900
AM Best Rating:
A
Company Rating 0 (0 reviews)

Mathew B. Sims is Editor-in-Chief and has authored, edited, and contributed to several books. He has been working in the insurance industry ensuring content is accurate for consumers who are searching for the best policies and rates...

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Written by

Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance...

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Reviewed byDaniel Walker
Licensed Insurance Agenthttps://res.cloudinary.com/quotellc/image/upload/insurance-site-images/aiorg-live/d98a9f52-daniel-walker.png

UPDATED: Apr 22, 2020

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Things to Remember...

  • OdysseyRe is a global insurance and reinsurance company
  • OdysseyRe has two different companies that sell insurance products in the United States and overseas
  • Nutraceutical insurance provides money for litigation and other legal action should a customer sue the manufacturer or retail seller

OdysseyRe is a global insurance and reinsurance company that is based out of the United States and subject to U.S. regulations. It has been in existence for more than 100 years.

The company entrusts its financial situation to Fairfax Financial Holdings, who has more than $8 billion in assets. By working with Fairfax, OdysseyRe can allow its customers more coverage options because their financial security is so strong.

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OdysseyRe Careers

OdysseyRe is a global company, so it has career opportunities in many different places. The United States, Canada, France, and England are all home to OdysseyRe offices and human resource departments.

Since each country has different laws governing what is required of employees, applications and requirements vary from office to office.

OdysseyRe employees receive some of the best benefits in the insurance and reinsurance industry. From retirement to healthcare to dental insurance, OdysseyRe strives to retain its employees by providing great benefits.

The longer an employee works for the company, the more benefits they have to choose from.

Though underwriters, claim processors, and actuaries make up a large part of the OdysseyRe workforce, the company also hires individuals to fill other positions that keep the company running smoothly.

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OdysseyRe American Products

OdysseyRe has two different companies that it has contracted with to sell insurance products in the United States and overseas. These companies work exclusively with OdysseyRe to provide the very best insurance products to customers.

The contracted company in the United States is Hudson Insurance. Hudson is a specialty insurance company that offers specialized products for a variety of clients.

Some of the products offered by Hudson are commercial auto, personal auto, crop insurance, environmental insurance, healthcare, marine insurance, nutraceuticals, personal umbrella coverage, professional liability, specialty casualty, specialty property, and surety bonds.

The most buzzed-about insurance coverage that Hudson Insurance offers is nutraceuticals insurance.

This is a newer type of insurance that was created to specifically cover nutritional supplement product developers and retailers. Nutritional supplements have taken off and are a billion-dollar industry.

Manufacturers and retailers of nutritional supplements needed a way to protect themselves in case an individual is harmed by a supplement or suffers unknown side effects.

Nutraceutical insurance provides money for litigation and other legal action should a customer sue the manufacturer or retail seller of the supplement.

Hudson is also the number one seller of crop insurance in the country. Crop insurance protects farmers from the loss of income if a crop is destroyed.

This could be because of a natural disaster or a drought, or through intentional means referred to as agricultural vandalism. The insurance will cover the financial loss as well as the replacement cost of planting a new crop.

OdysseyRe Foreign Products

OdysseyRe has contracted with Newline Group to handle foreign insurance options. Newline Group is a specialty insurance company located in London but licensed to sell insurance worldwide. They also have operating offices in Singapore and Melbourne, Australia.

Newline offers a variety of products to foreign companies. It does not sell personal insurance products. Their focus is on businesses that need coverage.

Some of the insurance options available from Newline are financial institution crime insurance, liability, medical malpractice, motor insurance, and professional indemnity insurance.

The most unique type of insurance sold by Newline Group is the financial institution crime insurance.

Referred to as FI/Crime insurance, policies protect businesses for up to $15 million in losses should the financial institution that holds their assets be convicted of criminal activity that causes it to crash or shut down.

It also protects against loss of information such as account numbers, loss of cash, loss of security documents, or other valuable items. This includes robbery, counterfeiting, forgery, transfer fraud, or computer fraud.

This type of coverage is especially important to those who have the majority of their assets held in one place.

If you are looking for personal auto insurance coverage, look no further. Just enter your ZIP code in the box below to compare auto insurance quotes from various companies now!

References:

  1. http://www.odysseyre.com
  2. https://www.allstate.com/tools-and-resources/personal-umbrella-policy/whats-umbrella-insurance.aspx
  3. http://medical-dictionary.thefreedictionary.com/Nutritional+Supplements
  4. http://www.castlerockagency.com/nutraceutical-dietary-supplements.html
  5. http://www.iii.org/article/which-disasters-are-covered-by-homeowners-insurance


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