GUARD Insurance Group
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| Private | |
| Industry | Insurance |
| Founded | Wilkes-Barre, Pennsylvania, United States (1982) |
| Services | Commercial Property and Casualty Insurance |
| Revenue | over $700 million |
| Website | http://www.guard.com/ |
Berkshire Hathaway GUARD Insurance Companies are A.M. Best rated A+ (“Superior”) and specialize in providing insurance coverage to businesses across the country. Products are available through contracted independent agents and brokers. In 2015, the group’s insurance companies (AmGUARD, EastGUARD, NorGUARD, and WestGUARD) insured over 125,000 businesses.
In July 1982, the company's original subsidiaries were formed in Wilkes-Barre, Pennsylvania, by Susan and Judd Shoval and a group of private investors. One year later, the first Workers’ Compensation insurance policy was issued in Pennsylvania and about a half million dollars in premium were written throughout 1983. The company successfully continued to grow, adding states, opening insurance and non-insurance subsidiaries, and acquiring Mutual Fire Insurance Company of Saco, Maine, in 1995. By 2007, GUARD had expanded under the Shovals' leadership to four insurance carriers (NorGUARD, AmGUARD, EastGUARD, and WestGUARD) writing $200 million of Workers’ Compensation insurance in 23 states.
To facilitate future plans, the company was acquired in 2007 by Clal Insurance Enterprises Holdings Ltd., an international insurance group. Sy Foguel joined the organization (now under new ownership) as CEO and introduced the vision of GUARD as a place for “one-stop shopping for business insurance” shortly thereafter. In 2012, the organization changed hands yet again and became a wholly owned subsidiary of National Indemnity Company, which is part of the Berkshire Hathaway Group.
By the end of 2015, the company was writing over $700 million in premium, operating in all states that are not monopolistic for Workers' Compensation insurance, and actively writing five other lines of insurance — Businessowner’s Policies, Commercial Excess/Umbrella, Commercial Auto, Professional Liability, and Statutory Disability coverage. Berkshire Hathaway GUARD currently has nine locations throughout the United States but remains headquartered in Wilkes-Barre, Pennsylvania.
The company’s flagship product, Workers’ Compensation is written by Berkshire Hathaway GUARD nationwide.
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