Haris Ashley
Tokio Marine HCC (TMHCC) is a global insurance group and one of the largest insurance providers in the world. It was formed in 2015 when Tokio Marine acquired Houston Casualty Company (HCC), a company founded in 1974 by Stephen L. Way to provide aviation insurance. TMHCC offers a range of specialty insurance products and services, including travel insurance, cyber and technology insurance, and professional liability insurance. The company underwrites more than 100 classes of specialty insurance in over 180 countries and has a strong financial standing with a market capitalization of $70 billion.
| Characteristics | Values |
|---|---|
| Year of Formation | 1974 |
| Founder | Stephen L. Way |
| Headquarters | Houston, Texas |
| Initial Name | Houston Casualty Company |
| Initial Business | Aviation Insurance |
| Current Status | One of the largest insurance providers in the world |
| Parent Company | Tokio Marine Group |
| Market Capitalization | $70 billion |
| Number of Countries Served | Over 180 |
| Number of Employees | 4,300 |
| Types of Insurance Offered | Aviation, Travel, Property, Casualty, Sports Disability, Crisis Management, Cyber & Technology, Professional Liability, Commercial, Marine, Crop, and more |
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What You'll Learn
Aviation insurance
Tokio Marine HCC is a leading insurance provider that offers a wide range of insurance products, including aviation insurance. Aviation was the first line of insurance provided by Tokio Marine HCC when it was founded in 1974 by Stephen L. Way. The company has since expanded and now offers insurance in over 180 countries worldwide.
Tokio Marine HCC offers specialty insurance products for general aviation and non-standard aircraft risks. Their aviation insurance includes liability, cargo, and war coverage. The company insures approximately 45,000 aircraft in the United States and more than 60 countries worldwide. Their aviation insurance products include:
- Personal aircraft coverage.
- Property and casualty coverage for pilots, student pilots, aircraft owners, hangar owners, and others in the aviation industry.
- Hull coverage options.
- Liability coverage for bodily injury and damage to property for those flying a plane owned by someone else.
- Fixed-wing, rotor-wing, and other aviation insurance products on a worldwide basis.
HC Aviation
HC Aviation, a subsidiary of Tokio Marine HCC, writes a combination of international and U.S. commercial aviation business. They are a domestic market leader on many fixed-wing cargo and rotor-wing risks, with a primary focus on large commercial business and internationally based risks. The bulk of the HC Aviation account is written internationally.
USSIC Aviation
USSIC Aviation, another subsidiary of Tokio Marine HCC, writes General Aviation and special risk insurance. They are the largest insurer of warbirds (propeller- and jet-driven military surplus aircraft owned individually or held by aircraft museums). USSIC Aviation Airport Liability coverages cater to a wide range of clients, from fixed-based operators to individuals who own or lease hangar space.
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Travel insurance
Tokio Marine HCC, now rebranded as WorldTrips, is a global insurance company that offers a wide range of travel insurance plans to meet the diverse needs of travellers worldwide. With a history spanning over 140 years, the company has established itself as one of the largest and most well-respected insurance providers in the industry.
History and Formation
Tokio Marine HCC was formed in 2015 through the merger of Houston Casualty Company (HCC) and Tokio Marine. The roots of the company, however, go back much further. Tokio Marine was established in 1879 as Japan's first insurance enterprise, catering to the booming maritime industry and the risks associated with life and work at sea. HCC, on the other hand, was founded in 1974 by Stephen L. Way to provide aviation insurance to the growing number of airlines. Over the years, HCC expanded its offerings and became a renowned travel and aviation insurance provider in the United States.
Tokio Marine HCC offers a comprehensive range of travel insurance plans under its Global Travel Insurance program. These plans are designed to protect travellers against various risks and uncertainties they may encounter during their trips. Here are some key features and benefits of their travel insurance offerings:
- Atlas Travel Medical Insurance: This plan provides customizable coverage for travellers looking to address specific needs while abroad. It offers flexible travel risk management solutions, ensuring protection for individuals and their businesses, regardless of the magnitude of the situation.
- StudentSecure: This plan is tailored for full-time students or scholars studying outside their home country, ensuring they have access to international student health insurance.
- Atlas Group Travel Medical Insurance: Atlas Group offers discounted rates for groups of five or more travellers, making it an attractive option for group vacations or team trips.
- Atlas MultiTrip: Designed for frequent travellers, Atlas MultiTrip is an annual insurance plan that covers multiple trips throughout the year. This plan is available to both U.S. and non-U.S. citizens, making it ideal for global travellers.
- Atlas Premium Travel Medical Insurance: This plan provides exceptional coverage for travellers seeking superior protection and peace of mind while journeying abroad.
- Atlas On-The-Go Trip Insurance: Recognizing that disruptions can occur after departure, Atlas On-The-Go protects travellers throughout their trip, ensuring they can address any unforeseen situations that may arise.
- On Call: On Call offers customized and holistic travel risk management solutions, protecting travellers, their families, and their organizations. This plan emphasizes the importance of personalized assistance during travel emergencies.
Tokio Marine HCC's travel insurance plans are designed to provide robust protection and flexibility, ensuring travellers can confidently explore the world while being safeguarded against unforeseen events and disruptions. The company's high ratings from significant financial rating systems, such as Standard & Poor's, Fitch Ratings, and A.M. Best Company, attest to its reliability and trustworthiness in the industry.
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Crisis management insurance
Tokio Marine HCC is an international insurance group that provides a range of insurance services to customers in over 180 countries. The company was formed in 2015 when Tokio Marine, Japan's first-ever insurance enterprise, established in 1879, acquired Houston Casualty Company (HCC), an insurance provider founded in 1974 by Stephen L. Way.
Tokio Marine HCC offers a diverse portfolio of insurance products, including aviation, travel, property, casualty, marine, and crop insurance. The company also specializes in underwriting directors and officers' liability insurance and providing sports disability insurance for athletes.
Tokio Marine HCC's crisis management insurance provides support before, during, and after an incident, helping organizations respond swiftly to a diverse range of risks. This includes addressing product contamination and tampering in the food industry, which can result in significant financial losses. The insurance also covers perils such as extortion, detention, hijacking, kidnap and ransom, and maritime piracy.
The integration of the crisis management insurance team into the international division of Tokio Marine HCC – Specialty Group streamlines access to their expertise and facilitates discussions about a broader range of client needs. This strategic move enhances their global broker services and enables them to provide comprehensive solutions to their clients and broker partners.
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Cyber & Technology insurance
Tokio Marine HCC (TMHCC) has been a leader in the Cyber Liability Insurance market for over 20 years. The company offers a range of products and services to protect businesses and individuals from the growing threat of cyber attacks and data breaches.
TMHCC's NetGuard® Plus Cyber Liability insurance provides first- and third-party coverage, as well as access to expert cyber security. TechGuard®, another TMHCC product, combines Errors & Omissions (E&O) and Cyber Liability coverages, providing a comprehensive solution for tech companies.
The company's Cyber & Professional Lines Group (CPLG) actively monitors and analyses cyber threats, tracking attack patterns and vulnerabilities to ensure their customers are aware and protected. This includes scanning external networks, observing honeypot activity, monitoring malware logs, and keeping an eye on underground markets.
Tokio Marine HCC's cyber insurance products are tailored to businesses of all sizes, from small to large, and can be customised to meet specific needs. With the increasing digitisation of the world, TMHCC recognises the importance of robust defences against cyber threats and is committed to helping its customers manage and mitigate the risks effectively.
Tokio Marine HCC's cyber insurance solutions provide peace of mind and confidence in navigating the digital world, protecting businesses and individuals alike from potential cyber-attacks and data breaches.
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Property and casualty insurance
Tokio Marine HCC (TMHCC) is a subsidiary of Tokio Marine Group, a leading insurance company with a market cap of $70 billion. TMHCC underwrites over 100 classes of specialty insurance in 180 countries and has approximately 4,300 employees worldwide. The company was formed in 2015 when Tokio Marine acquired Houston Casualty Company (HCC), which was founded in 1974 by Stephen L. Way to provide aviation insurance.
TMHCC offers a range of insurance products, including aviation, travel, sports disability, and property and casualty insurance. Property and casualty insurance is an umbrella term encompassing various forms of insurance, including homeowners, renters, auto, and powersports insurance. This type of insurance typically includes two primary coverage types: liability coverage and property protection coverage.
Property insurance covers financial losses due to damage or destruction of owned property, such as theft or accidents. Casualty insurance, on the other hand, deals with legal liabilities and includes a wide range of unrelated insurance products. An essential aspect of casualty insurance is liability insurance, which protects individuals from financial losses due to their interactions with others or their property. For example, in the case of an auto accident where one party is at fault, liability insurance would cover the costs of damages to the other party's vehicle.
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Frequently asked questions
Tokio Marine HCC is an international insurance group that offers a wide range of insurance products and services.
Tokio Marine HCC offers a variety of insurance products, including travel insurance, aviation insurance, cyber and technology insurance, and professional liability insurance. They also provide crisis management insurance and financial solutions for businesses.
Tokio Marine HCC is based in Houston, Texas, and has offices in various locations, including Connecticut, Maryland, the United Kingdom, Ireland, and New York.
Tokio Marine HCC was established in 2015 through the merger of Tokio Marine and Houston Casualty Company (HCC). HCC was founded in 1974 by Stephen L. Way, and Tokio Marine has a longer history, dating back to 1879 as Japan's first insurance enterprise.
