Liberty Mutual Insurance now offers equipment breakdown assumed reinsurance to insurers through treaties, programs and on a case-by-case basis, giving property/casualty insurers a new source for reinsurance of equipment breakdown.
According to Mike Martin, executive vice president and general manager, Liberty Mutual’s national insurance property operation, Liberty Mutual started offering equipment breakdown coverage to existing property clients five years ago, and soon after expanded to provide this coverage on commercial packages and monoline policies.
Its underwriting, claims, risk engineering and jurisdiction inspection resources are now available through the assumed reinsurance product.
Topics Reinsurance
Was this article valuable?
Here are more articles you may enjoy.
Florida Needs More – Much More – Wind Mitigation, Say Experts at OIR Summit 
State Farm Paid a ‘Hail’ of a Lot of Claims in 2025 
‘The Arms Race Is On’: Chubb’s Greenberg on Mythos, Middle East 
Four Georgia Troopers Fired in Vehicle Pursuit-Insurance Scheme 
