Policy Features.
Non-Assessable
Galen Insurance Company is a conventional, risk-assuming insurance company. Unlike
383 Mutual Assessable companies, we cannot charge additional retroactive payments
if our claims or expenses exceed expectations. This means that your premiums are
a fixed cost for you--even in the event of unanticipated losses or expenses.
Strong Financial Foundation
Galen maintains strong financials and low overhead costs, so more of your premium
is available to fund insurance protection. In fact, Galen maintains higher surplus
ratios than the average of the largest P&C insurance companies.
Reinsurance
To provide our policyholders with additional security, Galen purchases reinsurance
from only A-rated carriers. All of our policyholders,
both past and present, have the assurance that any claim reported to Galen has the
financial support of both Galen and these A-rated companies.