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Company Details
ELECTRIC INSURANCE COMPANY License Status :
Active
NAIC Number :
21261
Phone Number:
9785245926
Company Address:
75 Sam Fonzo Drive
Beverly, MA 01915-1000
Description:
Property and Casualty
License Number:
B423378
Date Admitted:
1972-07-17
Market Share
Link to Supplemental Data Page
| Year | Line | Market Share | Direct Premium Written | Direct Premium Earned | Direct Losses Paid | Direct Losses Incurred | Loss Ratio |
|---|---|---|---|---|---|---|---|
| 2023 | Total Property & Casualty | 0.13% | $20,160,686 | $20,904,844 | $21,352,022 | $19,925,959 | 95.32 % |
| 2023 | Total Homeowners | 0.29% | $8,564,124 | $8,881,182 | $13,245,699 | $11,379,575 | N/A |
| 2023 | Homeowners Multi-Peril | 0.30% | $8,564,124 | $8,881,182 | $13,245,699 | $11,379,575 | N/A |
| 2023 | Ocean Marine | 0.00% | $456 | $453 | $0 | $0 | 0.00 % |
| 2023 | Inland Marine (Incl Auto Cargo) | 0.02% | $124,123 | $133,414 | $54,140 | $54,140 | 40.58 % |
| 2023 | Direct Workers Compensation | 0.03% | $374,472 | $374,472 | $86,862 | $-284,673 | -76.02 % |
| 2023 | Other Liability - Bodily Injury & Property Damage | 0.03% | $275,095 | $306,566 | $0 | $74,702 | 24.37 % |
| 2023 | Products Liability | 0.56% | $275,125 | $275,125 | $0 | $162,030 | 58.89 % |
| 2023 | Total Private Passenger Automobile | 0.19% | $10,498,549 | $10,873,088 | $7,943,778 | $8,447,955 | 77.70 % |
| 2023 | Private Passenger Auto Liability Bodily Injury | 0.26% | $3,555,032 | $3,704,087 | $1,982,772 | $2,094,792 | 56.55 % |
| 2023 | Private Passenger Auto Liability Property Damage | 0.18% | $1,780,251 | $1,826,797 | $1,789,968 | $2,088,133 | N/A |
| 2023 | Private Passenger Auto Comprehensive | 0.16% | $1,864,785 | $1,986,263 | $1,646,558 | $1,647,217 | 82.93 % |
| 2023 | Private Passenger Auto Collision | 0.22% | $3,298,481 | $3,355,941 | $2,524,480 | $2,617,813 | 78.01 % |
| 2023 | Total Commercial Automobile | 0.00% | $39,196 | $39,196 | $21,543 | $92,230 | N/A |
| 2023 | Commercial Auto Liability Property Damage | 0.03% | $39,196 | $39,196 | $21,543 | $92,230 | N/A |
| 2023 | Surety | 0.01% | $9,546 | $21,348 | $0 | $0 | 0.00 % |
| 2022 | Total Property & Casualty | 0.14% | $20,201,209 | $17,486,616 | $11,287,286 | $15,142,366 | 86.59 % |
| 2022 | Total Homeowners | 0.32% | $8,573,198 | $7,630,733 | $4,655,934 | $7,574,160 | 99.26 % |
| 2022 | Homeowners Multi-Peril | 0.33% | $8,573,198 | $7,630,733 | $4,655,934 | $7,574,160 | 99.26 % |
| 2022 | Ocean Marine | 0.00% | $452 | $452 | $0 | $0 | 0.00 % |
| 2022 | Inland Marine (Incl Auto Cargo) | 0.02% | $129,301 | $119,089 | $16,320 | $16,320 | 13.70 % |
| 2022 | Direct Workers Compensation | 0.04% | $441,729 | $441,729 | $145,177 | $-632,363 | -143.16 % |
| 2022 | Other Liability - Bodily Injury & Property Damage | 0.04% | $317,228 | $277,757 | $0 | $2,244 | 0.81 % |
| 2022 | Products Liability | 0.14% | $59,561 | $59,561 | $0 | $332,502 | N/A |
| 2022 | Total Private Passenger Automobile | 0.22% | $10,372,381 | $8,668,940 | $6,361,206 | $8,200,383 | 94.59 % |
| 2022 | Private Passenger Auto Liability Bodily Injury | 0.29% | $3,599,396 | $3,048,296 | $1,874,573 | $3,610,333 | N/A |
| 2022 | Private Passenger Auto Liability Property Damage | 0.20% | $1,740,089 | $1,480,956 | $1,369,635 | $1,391,741 | 93.98 % |
| 2022 | Private Passenger Auto Comprehensive | 0.21% | $1,916,919 | $1,560,769 | $1,165,558 | $1,219,577 | 78.14 % |
| 2022 | Private Passenger Auto Collision | 0.24% | $3,115,977 | $2,578,919 | $1,951,440 | $1,978,732 | 76.73 % |
| 2022 | Total Commercial Automobile | 0.03% | $282,253 | $282,253 | $108,649 | $-350,880 | -124.31 % |
| 2022 | Commercial Auto Liability Property Damage | 0.19% | $282,253 | $282,253 | $108,649 | $-350,880 | -124.31 % |
| 2022 | Surety | 0.02% | $25,106 | $6,102 | $0 | $0 | 0.00 % |
| 2021 | Total Property & Casualty | 0.12% | $15,382,938 | $13,899,459 | $10,172,553 | $10,589,112 | 76.18 % |
| 2021 | Total Fire & Allied Lines | 0.00% | $-4,464 | $31,168 | $58,597 | $36,055 | N/A |
| 2021 | Dwelling Fire & Allied Lines | 0.00% | $-4,464 | $31,168 | $58,597 | $36,055 | N/A |
| 2021 | Total Homeowners | 0.26% | $6,503,824 | $5,925,127 | $4,248,800 | $4,461,050 | 75.29 % |
| 2021 | Homeowners Multi-Peril | 0.28% | $6,503,824 | $5,925,127 | $4,248,800 | $4,461,050 | 75.29 % |
| 2021 | Ocean Marine | 0.00% | $452 | $1,468 | $0 | $0 | 0.00 % |
| 2021 | Inland Marine (Incl Auto Cargo) | 0.02% | $110,483 | $102,509 | $88,056 | $88,056 | 85.90 % |
| 2021 | Earthquake | 0.31% | $405,181 | $353,466 | $0 | $0 | 0.00 % |
| 2021 | Direct Workers Compensation | 0.04% | $371,094 | $371,094 | $154,746 | $142,486 | 38.40 % |
| 2021 | Other Liability - Bodily Injury & Property Damage | 0.03% | $251,205 | $229,782 | $0 | $-1,435 | -0.62 % |
| 2021 | Products Liability | 0.14% | $55,326 | $55,326 | $-4,776 | $-82,710 | -149.50 % |
| 2021 | Total Private Passenger Automobile | 0.17% | $7,370,654 | $6,503,861 | $5,624,038 | $5,822,986 | 89.53 % |
| 2021 | Private Passenger Auto Liability Bodily Injury | 0.22% | $2,611,566 | $2,017,251 | $2,663,845 | $2,728,516 | N/A |
| 2021 | Private Passenger Auto Liability Property Damage | 0.16% | $1,276,200 | $1,109,796 | $719,445 | $892,290 | 80.40 % |
| 2021 | Private Passenger Auto Comprehensive | 0.15% | $1,316,093 | $1,278,433 | $677,370 | $673,844 | 52.71 % |
| 2021 | Private Passenger Auto Collision | 0.18% | $2,166,795 | $2,098,381 | $1,563,378 | $1,528,336 | 72.83 % |
| 2021 | Total Commercial Automobile | 0.04% | $319,183 | $319,183 | $3,092 | $122,624 | 38.42 % |
| 2021 | Commercial Auto Liability Property Damage | 0.24% | $319,183 | $319,183 | $3,092 | $122,624 | 38.42 % |
| 2021 | Surety | 0.00% | $0 | $6,475 | $0 | $0 | 0.00 % |
Enforcements
The department has not taken enforcement action against this company in the past three years.
Complaint Index
| Year | Line | Market Share | Number of Complaints | Complaint Index |
|---|---|---|---|---|
| 2023 | Private Passenger Auto | 0.19% | 2 | 60 |
| 2023 | Homeowners | 0.25% | 3 | 96 |
| 2022 | Private Passenger Auto | 0.17% | 1 | 38 |
| 2022 | Homeowners | 0.23% | 3 | 134 |
| 2021 | Private Passenger Auto | 0.15% | 0 | 0 |
| 2021 | Homeowners | 0.23% | 3 | 149 |
Company Changes
Market Conduct
Date: 06/16/2015
Financial Exams
This company does not have any financial exams.