TMCnet News
New Transformative Insurance Options Coming for New York Drivers and HomeownersPlymouth Rock Assurance today announced that it will soon be offering new auto and home insurance options for New York residents thanks to licenses granted by the New York Department of Financial Services (DFS). DFS approved the applications of Palisades Insurance Company (PIC) and Palisades Property and Casualty Insurance Company (PPCIC) to write personal auto and property insurance in New York State. The licenses clear the way for Plymouth Rock to continue its New York expansion, which began in 2018. Plymouth Rock is known for its broad acceptance of applicants, financial strength and innovative services such as "Text to Quote," where homeowners can get a price quote simply by texting their home address. More recently, Plymouth Rock has received recognition for offering one of the fastest ways to quote and buy home, condo and renters insurance. "The staff at the New York Department of Financial Services has worked hard to help us expand our presence," said Hal Belodoff, President of the Plymouth Rock Group of Companies. "This is another meaningful step towards our goal of bringing Plymouth Rock's innovative auto and home insurance products to New Yorkers. We're extremely excited about the future as we continue to expand in New York State." In December 2018, Plymouth Rock received approval from DFS to acquire MAPFRE Insurance Company of New York, which services more than 15,000 residents. In April 2018, FS approved the company's acquisition of 21st Century National Insurance Company and its New York private passenger auto business, allowing Plymouth Rock to serve another 10,000 customers. The two new licenses will allow additional products to be marketed to new home and auto customers throughout the state. PIC and PPCIC are subsidiaries of the New Jersey reciprocal insurance exchange Palisades Safety and Insurance Association (PSIA (News - Alert)), which is managed by the Plymouth Rock Management Company of New Jersey. PSIA is one of the nation's largest and strongest associations, rated A- ("Excellent") for claims paying ability by AM Best, the industry's leading ratings agency. Through these approvals, Plymouth Rock will offer personal auto, as well as homeowners, rental and condo insurance to drivers and property owners in New York. "Plymouth Rock hopes to quickly present our unique offerings to New Yorkers," continued Belodoff. "We hope to earn their business through our great people, broad coverage options, easy access and by putting them - our customers - first."
About Plymouth Rock Plymouth Rock is a marketing name used by separate underwriting and management companies to offer personal and commercial auto and home insurance in multiple states. Each company is financially responsible only for its own insurance products and actual coverage is subject to the language of the policies as issued by each separate company. Some discounts, coverages, payment plans, features and benefits are not available in all states and companies. Taken together, the group's companies write and manage more than $1.3 billion in auto and home insurance premiums across Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Pennsylvania. Plymouth Rock gives its customers the choice to do business the way they want - online at plymouthrock.com, using a mobile device, by phone or with one of Plymouth Rock's agents.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190319005576/en/ |
