Orlando Harmon
Philadelphia Insurance Companies (PHLY) is a national commercial property and casualty insurance company that offers a wide range of insurance products and services. The company has received various ratings and reviews from customers and employees, which provide insight into its performance, customer service, and work environment. So, how is Philadelphia Insurance rated?
| Characteristics | Values |
|---|---|
| AM Best Rating | A++ (Superior) |
| AM Best Rating Meaning | Ability to meet financial obligations |
| BBB Accreditation | Yes |
| Customer Service | Phone, Email, Fax |
| Catastrophe Call Center | 24/7 |
| Customer Service Rating | 4.4/5 |
| Work-Life Balance Rating | 4.4/5 |
| Culture and Values Rating | 4.3/5 |
| Career Opportunities Rating | 4.1/5 |
| Overall Rating | 4.1/5 |
| Number of Reviews | 387 |
| Percentage of Employees Recommending to a Friend | 80% |
| Percentage of Employees with a Positive Outlook | 81% |
| Compensation and Benefits Rating | 3.7/5 |
| Top Workplace in Philadelphia | #2 |
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What You'll Learn
Customer reviews
On WalletHub, the company has received 60 user ratings, with an average rating of 3.5 stars. One user complained about being charged a 3.5% fee for using a credit card, while another praised the company's customer service, stating that they received a payment of $4,122.80 for damage to their vehicle within 18 days of the claim being reported.
On Glassdoor, Philadelphia Insurance Companies has received 387 reviews from employees, with an overall rating of 4 out of 5 stars. 80% of employees would recommend working at the company to a friend, and the pros of working there are listed as culture, coworkers, and benefits, while the cons are senior leadership, career development, and management.
The Better Business Bureau (BBB) website features both positive and negative reviews. One customer complains about the company's failure to return phone calls or emails regarding a claim, while another praises the company's customer service and prompt payment of a claim. Philadelphia Insurance Companies is rated A++ (superior) by AM Best, a credit rating firm that assesses the creditworthiness of insurance companies. The AM Best rating indicates that the company has the ability to pay claims and financial obligations in a timely manner.
Philadelphia Insurance Companies has also received ratings and reviews on other websites such as Clearsurance, Yelp, and National Associations of Insurance Commissioners. The average cost of their commercial insurance policies ranges from $59 to over $199 per month, and they offer a wide range of coverage options, including commercial auto insurance, non-profit and health and human services, and outdoor activities.
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AM Best rating
AM Best is a credit rating firm that assesses the creditworthiness of and/or reports on over 16,000 insurance companies worldwide. The AM Best rating points to an insurance company's ability to pay claims, debts, and other financial obligations in a timely manner. Philadelphia Insurance Companies (PHLY) has been rated A++ (superior) by AM Best since 2011. This is the highest rating awarded by AM Best and indicates that the company has the ability to meet its ongoing insurance obligations.
PHLY is a national commercial property and casualty insurance company that provides specialized insurance products for a wide range of industries, including sports and fitness, religious institutions, and healthcare organizations. They offer tailored coverage and risk management solutions to meet the unique needs of their clients. The company was founded in 1980 by James J. Maguire, Sr., a Pennsylvanian entrepreneur and philanthropist. Since its founding, the firm has contributed over $34.5 million to charitable causes and organizations.
PHLY has grown to become a countrywide specialist insurance provider, covering over 120 niche business markets from 50 offices across the United States. The company has a strong focus on training its employees, with generous PTO benefits, a professional and fun working environment, and a commitment to philanthropy and community engagement.
In addition to its AM Best rating, PHLY has received positive reviews from its employees. On Glassdoor, the company has an overall rating of 4.1 out of 5, with 80% of employees recommending it as a workplace. The pros of working at PHLY are commonly listed as culture, coworkers, and benefits, while the cons are listed as senior leadership, career development, and management.
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Catastrophe Call Center
The Philadelphia Insurance Companies (PHLY) have a 24/7 Catastrophe Call Center for customers to report catastrophic losses after 8 pm EST Monday to Friday. The Catastrophe Call Center is also open on weekends, complementing the regular Claims Service Center hours of 8:30 am to 8 pm EST Monday to Friday.
The Catastrophe Call Center is part of PHLY's claims reporting services, which also includes the option to initiate claims online through the MyPHLY customer portal, or by contacting the Claims Service Center during regular business hours. Customers will receive verbal confirmation of their claim and will be contacted by a service representative within one business day.
PHLY has been in operation since 1962 and offers a broad range of risk management services and commercial insurance solutions for niche markets. The company is BBB-accredited and rated A++ (Superior) by AM Best.
Despite the positive ratings, some customers have reported negative experiences with PHLY's claims handling, including delays in communication and settlement, and confusion regarding claims and customer service instructions.
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Commercial auto insurance
In Philadelphia, commercial auto insurance is available from various providers, including KC Insure, Premier Group Insurance, LLC, and Philadelphia Insurance Companies (via TechInsurance). The cost of commercial auto insurance in Philadelphia tends to be higher than in rural or suburban areas due to a higher-than-average claim rate. Philadelphia businesses must also meet the state's minimum requirements for auto liability insurance, including bodily injury liability of $15,000 per person and $30,000 per accident.
When determining the cost of commercial auto insurance, insurance companies consider various risk factors, such as vehicle usage, mileage, and efforts to improve driver safety. Additionally, businesses can save on commercial auto insurance by bundling it with other types of insurance policies, such as general liability and employment practices liability insurance (EPLI).
Philadelphia Insurance Companies, in partnership with TechInsurance, offers personalized insurance solutions and is known for its industry-leading financial strength and commitment to customer service. They provide insurance products for select industries in every state except Louisiana, with a focus on value-added risk management services to prevent losses.
Overall, commercial auto insurance is an essential aspect of financial protection for businesses operating vehicles in Philadelphia, ensuring that they are covered in the event of accidents, property damage, or other unforeseen circumstances.
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Work-life balance
Philadelphia Insurance Companies employees have rated the organisation 3.6 out of 5 stars for work-life balance, according to reviews on Indeed.com. On Glassdoor, employees have rated the company 4.4 out of 5 for work-life balance.
Reviews on Indeed.com are mixed, with some employees praising the company's work-life balance, while others have criticised it. One employee wrote: "Work life balance is an issue." Another said: "You will have dreams about the work you didn't complete. Don't ruin your mental health." However, one reviewer said: "PHLY Ins is by far one of the best companies I ever had the pleasure of working for. Their culture, their work/life balance, tuition reimbursement, healthy lifestyle... I could go on forever why this is a great place to work."
Some employees have praised the company's benefits, which include healthcare, dental, vision, retirement plans, and paid time off (PTO). PTO is considered an important benefit for employers to offer because it gives employees the chance to take a break from work, stay home if they're sick, or take care of personal matters. Philadelphia Insurance Companies also offers a hybrid work environment and flexible schedules, which can contribute to improved work-life balance.
The company also provides an incredible training program for assistant underwriters, with employees always having someone to rely on to ask questions and exchange ideas. Philadelphia Insurance Companies also offers competitive pay, advancement opportunities, and team-building activities.
Overall, while opinions vary among employees, Philadelphia Insurance Companies appears to offer a range of benefits and initiatives that support work-life balance.
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Frequently asked questions
Philadelphia Insurance Companies' rating is based on customer reviews. An algorithm is used to analyse a range of inputs from the independent community of insurance customers.
AM Best, a credit rating firm that assesses the creditworthiness of insurance companies worldwide, has given Philadelphia Insurance Companies an A++ (Superior) rating. This is the highest rating awarded by AM Best and indicates the company's ability to meet its financial obligations.
On Glassdoor, Philadelphia Insurance Companies has an overall rating of 4.1 out of 5, based on over 387 anonymous employee reviews. The company has also been rated 4.4 out of 5 for work-life balance, 4.3 for culture and values, and 4.1 for career opportunities.
