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Home > Property Insurance Coverage > Home Owners Insurance > Providence Washington Insurance Companies
Providence Washington Insurance Companies
Providence Washington is a multi regional property and casualty insurance company operating principally along the Eastern seaboard of the United States. For the year end 2003, the firm reported statutory direct written premiums of 170 million dollars. They wrote business in 16 states during 2003, with 8 states representing approximately 90 percent of direct written premium. In May, 2004, the Board of Directors of the firm’s Insurance Companies voted to cease writing new business and renewals to the extent allowable by applicable state regulations and laws.
They are grateful to their employees for their hard work and dedication, as well as to their insured’s, agents, the City of Providence and the State of Rhode Island for their unwavering support. While their staff continues servicing its portfolio, the company plans to gradually reduce its workforce of 235 employees in line with a reduced amount of work. The company employs 165 people in its various Rhode Island locations and will assist with the outplacement needs of those employees affected by this decision.
This is a regional property and casualty insurance company operating principally along the Eastern seaboard of the United States. For the year-end 2003, the firm reported statutory direct written premiums of 170 million dollars. The company wrote business in 16 states during 2003, with eight states representing approximately 90 percent of direct written premium.
The company plans to continue servicing its existing portfolio of commercial and personal lines business. The company will work with the Rhode Island Department of Business Regulation, as well as the other state insurance commissioners, to ensure compliance with all applicable laws and regulations. They plan on using their existing staff in order to efficiently execute their plan and settle their various obligations.
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