We Recommend Hiscox
The products offered by HCC are primarily marketed toward businesses. These products range from business-specific liability plans to group policies for employee benefits. Specific products vary depending on the subsidiary involved and which country the services are sold in.
The company’s primary headquarters is located in Houston, Texas, but multiple offices exist in other cities throughout the US. Altogether, the company has around 1,800 employees and sells policies for each of its subsidiaries through independent brokers.
Accident & Health
HCC offers a variety of health, accident and life products for businesses, including group term life insurance for employee benefits. Other products include medical stop loss protection (which protects self-funded employers from the cost of catastrophic medical claims) and short-term and international medical insurance for individuals traveling outside their home country. Through its subsidiary Taft-Hartley, HCC also offers medical stop loss insurance to Taft-Hartley union members.
Aviation insurance is HCC’s oldest product, and it makes up about $200 million of the company’s annual premiums worldwide. Some of the products offered include airport liability, general aviation, regional airline insurance and products for military and government aircraft. The company also offers special risk products for things like passenger and baggage liability or spare parts coverage.
Directors & Officers
Coverage is available to protect financial institutions from crime-related losses, including employee infidelity and computer attacks. D&O policies cover risks associated with suits over mergers and acquisitions, accounting irregularities and related issues.
Surety & Credit
HCC offers surety bonds to large and small companies in the United States and Europe. These include contract and commercial bonds as well as plugging and abandonment bonds for geological and energy companies.
Altogether, HCC writes about $750 million in policies through 80 different products around the world. Specialty insurance is offered to many businesses, and HCC focuses on providing products that suit the unique needs of niche companies. Some examples include professional indemnity, restaurant recovery, government entity and architect insurance. Policies are also available for specific risks like corporate fiduciary liability, kidnap and ransom, and malicious product tampering.
There is no claims information listed on the primary HCC page. As HCC comprises several subsidiaries, contacting the appropriate subsidiary directly may be the best method. Alternatively, you might speak with your broker or refer to the policy itself to see what claims instructions are there. Different types of claims will have a different process, with many being handled through reimbursement and others requiring specific paperwork, so it’s a good idea to confirm the process with the agent or broker before proceeding.
Consumer Research and Complaints
HCC Insurance Holdings Inc is not Better Business Bureau accredited, but it does have an A- rating on the BBB website. The listing shows just one complaint within the last three years, with none closed in the previous 12 months.
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HCC is a specialty insurance company that provides coverage for a number of different business uses. They provide little-to-no information about their claims process on their website, so it is assumed individuals and organizations must contact their agent or the company directly in order to start one. HCC only has had one complaint filed with the Better Business Bureau in the last three years, and their financial strength is good according to the major rating firms.
For a list of companies that we recommend, visit our Best Insurance Companies page.