Shelter Insurance Companies is one of the most determined companies to making a difference. Present since 1946, it has proven its strength in withstanding economic crises, such as the 1990 to 1991 recession in the United States and the more recent 2007 to 2009 stock market drop. What started out as a car insurance company for the residents of Missouri has since branched out to have license over fourteen states across the country. It currently offers life insurance, business insurance and asset coverage for cars, homes, businesses and even farms. The company has a comfortable asset margin, amounting to more than two billion US dollars as of the end of the 2010 fiscal year.
As its name implies, Shelter Insurance Companies is a corporation consisting of a number of business groups, with each subsidiary specializing on a specific field. Its organizational structure reflects Shelter Insurance Companies as the mother company, and under its wings it has the following:
a) Shelter General Insurance Company, which is a property and casualty insurance firm. It has written policies for complete property protection, indemnity against fire and/or earthquake, vehicular accident coverage, and automobile insurance. The company likewise insures against burglary and theft. Its plans are varied and coverage can be partial or comprehensive. Shelter General has declared assets amounting to 184 million US dollars.
b) Shelter Life Insurance Company, which offers the basic life insurance as well as annuities. The life insurance includes term, whole life, universal life, long term disability or debilitating accident coverage, annuities and retirement plans.
Among the Shelter companies, Shelter Life Insurance Company has the largest declared assets amounting to 961 million US dollars.
c) Shelter Reinsurance Company, which issues insurance policies for insurers. This company was incorporated in 1986, and its main concentration is on property reinsurance here and abroad. Reinsuring reduces the risk of company bankruptcy should an event occur that multiple policyholders need to make claims at the same time. By sharing the responsibility of payouts, it distributes the burden of insuring a property, thereby preventing possible economic failure. Shelter Reinsurance Company has declared assets amounting to 286 million US dollars.
d) Shelter Mutual Insurance Company, which covers personal and commercial insurance. This includes renters insurance as well as business insurance for small to medium scale industries. It also writes life insurance and accident benefits for individual policies.
e) Shelter Benefits Management, Inc, which is a benefits management company with assets amounting to 252 million US dollars. The company mostly serves Shelter's affiliates.
f) Haulers Insurance Company, which is another property and casualty insurance firm, but with a smaller range of influence as compared to Shelter General Insurance Company. It mainly focuses on automobile insurance and vehicular disability and accident benefits. It has declared assets amounting to 59 million US dollars.
Aside from these subsidiary companies, Shelter Insurance Companies established Shelter Financial Bank in April 1999. This was to facilitate client's opening of investment accounts, acquisition of loans or mortgage for houses. However, because of additional accounting requirements imposed by the Federal Reserve Board, Shelter Insurance Companies decided to shut down its bank in September 2012.
To date, Shelter Insurance Companies remains strong and continues to write policies for life insurance, annuities and various types of asset coverage. It insures not only cars but also boats, not only houses but businesses. It even has insurance plans for personal articles, such as jewellery and family heirlooms. It is currently active in the following states: Arkansas, Colorado, Iowa, Illinois, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, Nevada, Oklahoma, and Tennessee. In addition, its reinsurance firm has licence to write policies for local and foreign corporations.
Aside from developing its business and clientele, Shelter Insurance Companies also takes care of its own people. The group offers competitive benefits to its employees, providing its workforce group insurance as well as insurance for life, health, travel, personal accident and long term disability. They also offer financial programs that include profit sharing, savings plans, interest-free loans, tuition fee reimbursement and scholarship for children (after meeting specified qualifications), and retirement benefits. They likewise provide vacation leaves and personal time off as they recognize a person's need to recharge and bond with the family.
It is these characteristics that set Shelter Insurance Companies apart from its competitors. It is not just a business enterprise; it is also a personal partner for growth. Truly you are safe and protected with Shelter Insurance Companies.