PXRE Auto Insurance Review

PXRE was acquired by Tawa, a company that purchases insurance companies which are in runoff. Enter your ZIP code to get quotes from auto insurance companies.

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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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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 27, 2020

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Things to Remember...
  • PXRE was acquired by Tawa, a company that purchases insurance companies which are in runoff
  • Being in runoff means that the insurance company can no longer write new business
  • Often insurance companies voluntarily go into runoff, while other times the state forces them into it

If you are looking for PXRE auto insurance, you are going to find it difficult to find any information on this company because in 2006, this company was no longer able to support itself.

PXRE was then acquired by a runoff company called Tawa, which completed their acquisition in 2008.

Tawa plc is a company that was founded in 2001. The only business this company conducts is purchasing and developing insurance companies that are in runoff.

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PXRE Runoff and Tawa Plc

Runoff means that an auto insurance company or other insurance providers no longer have the financial ability or stability to write new business.

This company isn’t necessarily going out of business; they simply maintain their current policyholders until the time comes where they feel they can support new business again.

However, when a company does this, typically they have to raise their insurance rates to create a situation where they can write new policies again, which often leads to customers leaving the company, which can then lead to bankruptcy.

In the case of PXRE, the runoff was voluntary, which is often the case with auto insurance companies.

However, there are those situations where a state will force an insurance company into a runoff because it is clear that if they don’t then the company will become insolvent.

Tawa, the company that purchased PXRE, is a new insurance company that is working towards developing their own products.

Unfortunately, at this time, PXRE has no online presence, no phone number, etc. to purchase insurance through, which means that Tawa has not yet developed this company to its fullest.

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PXRE Auto Insurance Agents

In order to purchase any of the products that PXRE/Tawa offers, you will have to find an independent insurance agent that sells their products.

At this time, there are no quote tools or other information regarding where you might find agents for this company.

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PXRE Auto Insurance Claims

If you have a claim with PXRE then you will need to contact your independent agent to process this claim.

You cannot go online to file the claim, and there is no information online regarding any customer service or claims service information for PXRE.

If you already have PXRE insurance, then you should have the necessary information on your policy documents instructing you on how to go about filing any claims.

PXRE Auto Insurance Careers

As you have probably guessed, there are no career opportunities with PXRE or, at least, there are none listed on the Tawa website or anywhere we could find online.

If you are interested in a career with Tawa, you can go to their website and send an inquiry via their contact us page.

You do need to be aware, however, that they do not have any US based offices at this time.

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PXRE Auto Insurance Quotes

The only way to get a quote for PXRE products is for you to find an independent agent licensed to sell their products and then get a quote through them.

You will not find an online quote tool that will give you quotes for this company.

A big reason for that is that any reputable quote tool designer will not include companies whose future is unsure.

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References:

  1. http://www.tawa.net/
  2. http://www.investopedia.com/terms/r/runoff-insurance.asp
  3. https://en.wikipedia.org/wiki/Insolvency
  4. http://www.rmiia.org/auto/steering_through_your_auto_policy/Filing_an_Auto_Claim.asp
  5. http://www.tawa.net/contact


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