Alyssa Lane
Commerce Insurance, also known as the American Commerce Insurance Company, was acquired by MAPFRE S.A. in 2008 and renamed MAPFRE Insurance. The company is headquartered in Webster, Massachusetts and sells personal and commercial property insurance. MAPFRE Insurance is the largest insurance group in Latin America and has a presence in 43 countries. It offers a range of insurance products, including auto policies, umbrella policies, home insurance, and travel insurance.
| Characteristics | Values |
|---|---|
| Company Name | Commerce Insurance Company |
| Former Name | Commerce Insurance Group |
| Current Name | MAPFRE Insurance |
| Alternate Name | American Commerce Insurance Company |
| Location | Webster, Massachusetts |
| Mailing Address | 211 Main St, Webster, MA, 01570 |
| Phone Number | 1-800-221-1605 |
| Website | www.mapfreinsurance.com |
| Parent Company | MAPFRE S.A. |
| Year Acquired | 2008 |
| Area Served | 24 States in the U.S. |
| Insurance Types | Personal, Commercial, Property, Casualty, Auto, Umbrella, Home, Travel, Business |
| Customer Satisfaction | Mixed Reviews, Below Average Claims Processing |
Explore related products
What You'll Learn
Commerce Insurance was renamed MAPFRE Insurance
MAPFRE is the largest insurance group in Latin America and has a presence in 43 countries, including the US and Spain, with about 51,000 agents worldwide. The company offers various insurance products, including auto policies, umbrella policies, home insurance, and travel insurance. Policy availability varies by state, with coverage currently available in 24 states.
The name change from Commerce Insurance to MAPFRE Insurance reflects the company's new ownership under the MAPFRE group. The acquisition expanded MAPFRE's presence in the United States, particularly in the Northeast region, where Commerce Insurance had a strong presence.
Despite the name change, the company still sells policies under the Commerce Insurance brand, operating under different names in different states. For example, it is known as American Commerce Insurance in Webster, Massachusetts, where it is headquartered. The company's mailing address and phone number remain the same, providing continuity for customers who had policies with Commerce Insurance before the name change.
The company's commitment to its customers remains a key focus, as evidenced by its mission statement: "At MAPFRE Insurance, we build relationships based on trust. We’re committed to providing high-quality products, valuable services, and exceptional customer experiences."
Fire Department Billing Practices: Understanding the Intersection with Insurance
You may want to see also
Explore related products
MAPFRE Insurance is headquartered in Webster, Massachusetts
MAPFRE Insurance is a leading insurance company with a strong presence in the United States and a commitment to providing high-quality products and services to its customers. The company offers a full range of insurance products, including auto, home, motorcycle, watercraft, and business insurance, as well as term life insurance in several states. MAPFRE has a network of over 4,200 independent agents and brokers across the country and is a subsidiary of the Spanish multinational MAPFRE Group, which operates in 47 countries on five continents.
The company's headquarters in Webster, Massachusetts, reflects its long history in the state, dating back to its founding in 1972. Arthur J. Remillard, Jr. established Commerce Insurance as a local business, and it quickly grew to become one of the largest insurance providers in the country. Today, MAPFRE Insurance continues to serve customers in Massachusetts and beyond, offering a range of insurance products and services to meet their needs.
As a leading insurance company, MAPFRE recognises the importance of trust and transparency in its relationships with customers. The company strives to provide exceptional customer experiences and is committed to improving the quality of life and social progress through its multinational programs and activities. MAPFRE Insurance also recognises the value of its employees and is dedicated to attracting, developing, and retaining quality talent to ensure mutual success.
Overall, MAPFRE Insurance's headquarters in Webster, Massachusetts, serves as a testament to the company's rich history and strong presence in the state. With its commitment to trust, quality, and social progress, MAPFRE Insurance continues to be a leading choice for customers in Massachusetts and across the United States.
The Mystery of Insurance Prime Payments: Unraveling the Doctor's Bill
You may want to see also
Explore related products
Commerce Insurance is still used in the company name
The Commerce Insurance Company, formerly known as Commerce Insurance Group, was renamed MAPFRE Insurance after being acquired by Spanish insurance group Mapfre in 2008. Despite the name change, Commerce Insurance is still used in the company name, now known as Commerce Insurance (MAPFRE). The company continues to sell policies under the Commerce Insurance name, although its coverage is limited to 24 states.
The company was founded in 1972 by Arthur J. Remillard, Jr., and has been headquartered in Webster, Massachusetts, since its inception. Over time, Commerce Insurance expanded its offerings to include personal insurance, commercial property insurance, and casualty insurance in Massachusetts and New Hampshire. Their core product lines included personal automobile, homeowners, and commercial vehicle insurance.
In 2007, Commerce Insurance entered the New York personal lines insurance market through its acquisition of SWICO Enterprises, Ltd., the holding company for State-Wide Insurance Company. This expansion marked a significant step for the company, as State-Wide Insurance Company specialized in private passenger automobile insurance in New York.
Following its acquisition by Mapfre, the largest insurance group in Latin America with a presence in 43 countries, Commerce Insurance became part of a larger, global insurance provider. Despite the name change to MAPFRE Insurance, the company continues to utilize the Commerce Insurance name, reflecting its history and presence in the industry.
Today, Commerce Insurance (MAPFRE) offers various insurance products, including auto policies, umbrella policies, home insurance, and travel insurance. While the company encourages policyholders to file claims online for faster processing, it maintains a toll-free phone number for customers across all states.
Unraveling the ROP Acronym: Understanding Insurance's Return of Premium
You may want to see also
Explore related products
MAPFRE Insurance is the largest insurance group in Latin America
Commerce Insurance was founded in 1972 by Arthur J. Remillard, Jr. as a small insurance company in Webster, Massachusetts. In 2008, it was acquired by the Spanish insurance group MAPFRE and renamed MAPFRE Insurance. MAPFRE Insurance is a subsidiary of the multinational MAPFRE Group, an international insurer with business in 47 countries across five continents.
MAPFRE Group is the largest insurance group in Latin America, with a presence in 43 countries and about 51,000 agents worldwide. The group's premiums totalled $10.559 billion in 2023, up from $9.229 billion the previous year, and held a 5.2% market share. MAPFRE leads the Non-Life business with premiums of $7.327 billion and a 6.2% market share, surpassing competitors such as Germany's Talanx and the U.S.'s Elevance.
The Latin American insurance market recorded $203.354 billion in total premiums in 2023, up from $173.675 billion in 2022. The top 25 insurance groups in the region generated a total of $126.950 billion, marking a 19.38% rise compared to 2022. The markets with the highest growth were Mexico (34.4% increase), Costa Rica (24.4%), and Argentina (21.3%). Brazil, Mexico, and Argentina are the most significant markets, with Brazil holding a 22.5% share of premiums, Mexico with 21.1%, and Argentina with 15.9%.
MAPFRE Insurance writes property and casualty insurance in 19 states across the United States through a network of more than 4,200 independent agents and brokers. The company provides a full range of insurance products, including coverage for automobiles, homes, and businesses, as well as motorcycles, watercraft, and term life insurance in several states. In the United States, MAPFRE Insurance operates under different names in different states, including Commerce Insurance and American Commerce Insurance.
Becoming an Insurance Pro: A Step-by-Step Guide
You may want to see also
MAPFRE Insurance sells different lines of property and casualty insurance
Commerce Insurance, formerly known as Commerce Insurance Group, was acquired by MAPFRE S.A. in 2008. The company was subsequently renamed MAPFRE Insurance. MAPFRE Insurance sells different lines of property and casualty insurance, including auto policies, umbrella policies, home insurance, and travel insurance.
MAPFRE Insurance offers a range of homeowners' insurance options to protect property and belongings. Their property insurance covers damage from storms, fire, lightning, equipment or structural failures, falling objects, theft, and vandalism. They also offer additional endorsements to cover high-value items such as jewellery, artwork, and furs. Furthermore, MAPFRE provides renters' insurance, which protects personal property and personal liability against fire, theft, smoke, vandalism, and injury to another person.
In terms of casualty insurance, MAPFRE offers auto policies with full coverage options. They also provide business insurance in some states. Policy availability varies by state, with MAPFRE Insurance actively writing property and casualty insurance in 11 states across the US.
MAPFRE Insurance is committed to providing high-quality products and valuable services, aiming to build relationships based on trust. They have over 40 years of experience and are recognised as a leading global foundation committed to people's well-being and social progress. MAPFRE is the largest insurance group in Latin America, with a presence in 43 countries and approximately 51,000 agents worldwide.
Service Shops: Compare Insurance Quotes, Save Money
You may want to see also
Frequently asked questions
Yes, Commerce Insurance was renamed MAPFRE Insurance after being acquired by Spanish insurance group MAPFRE S.A. in 2008.
MAPFRE is the largest insurance group in Latin America with a presence in 43 countries and about 51,000 agents worldwide.
MAPFRE offers personal and commercial property insurance, including auto policies, umbrella policies, home insurance, and travel insurance.
MAPFRE Insurance is headquartered in Webster, Massachusetts, USA.
The toll-free phone number for MAPFRE Insurance is 1-800-221-1605 for customers in all states.
