PXRE Auto Insurance Review

For readers looking for a good private passenger insurance provider, you might want to look elsewhere. If you’re looking for auto insurance online, make sure you find some tips to compare and save on auto insurance. PXRE Auto Insurance don’t cover standard policies for cars and trucks and so on, rather, they specialize in a number of business vehicle policies including the following:

• Small mining vehicles and dump trucks
• Municipality vehicle fleets
• Emergency response vehicles
• General aviation policies

Drivers, pilots, and business owners looking for this type of coverage might do well to look at PXRE’s policies and put them in the running for your company’s insurance provider, but you will nevertheless want to check your facts. Read through this review and see if what they offer meets your own personal and professional standards for an industrial auto insurer.

A Look at PRXE’s Insurance Products

Before you know whether or not PRXE have what you’re looking for, you need to know what they offer in the first place. Here’s a brief listing of all of the flagship products offered by PRXE Auto Insurance:

• Personal Accident Cat XL

PRXE’s Personal Accident Cat XL program covers single occurrences with multiple bodily injuries as well as multiple casualties. It’s unpleasant to think about, but covering yourself against this kind of liability is of the utmost importance if you run a business in an industrial field.

Interesting note: This policy is often sold for military deployments. This makes sense when you consider the high probability of injury when serving in active duty.

• Catastrophe Excess of Loss Reinsurance

Covering single occurrences up to $35 million in damages, Catastrophe Excess of Loss Reinsurance is a program in place to help insure some pretty major projects. This may seem excessive but it often proves necessary in big construction and mining projects as well as in major transportation campaigns.

• Stop Loss and Risk XL

Like Catastrophe Excess, Stop Loss and Risk XL help to manage single occurrence losses in large dollar amounts.

These losses could include theft, vandalism and property damage where Catastrophe Excess deals heavily in personal injury.

If you manage a larger business, you may want to look into these, but the company does offer smaller insurance packages as well. These are merely their flagship products which show how far the company is willing to go in terms of coverage.

Horizontal Partners Under Tawa

PXRE is actually only one of many companies under the Tawa umbrella. Other Tawa subsidiaries include the following names in industrial and business insurance:

• Pro Insurance Solutions Limited
• QX Reinsurance Company Limited
• Island Capital Limited
• CX Reinsurance Company Limited
• STRIPE Global Services
• OX Reinsurance Company Limited
• KX Reinsurance Company Limited

Which one of these companies you might want to consider buying insurance from has a lot to do with where you live and where you do business just as much as it does what kind of insurance products you’re looking for. You’ll find high value industrial and business insurance policies being offered by every one of these companies.

Security and Stability

PXRE cover some pretty large insurance policies so one might be inclined to worry about whether or not the company can actually meet the promises that it makes to its customers. The company actually relies heavily on their parent company, Tawa, to cover major insurance claims.

With capital in the area of $5 million and a net surplus of just under $60 million, the company could, theoretically, cover any insurance policy that is currently held by one of its customers, but five or six maximum claims in a row wouldmake things very hard on the company.

Having previously held a B+, the company does not currently hold a rating with AM Best, but Tawa’s stability is known to be solid and reliable.

In fact, when doing business with PXRE, one may as well assume that they’re doing business with Tawa, with PXRE acting as almost more of an underwriting company in the dealings.

Signing Up With PXRE

If you’re considering PXRE for your Philadelphia based company, you could do a lot worse. The company has a reputation for reasonable pricing, well crafted insurance products, and stability through the backing of their parent company.

That being said, they don’t offer a lot of products for the small business man or for the major business owner for that matter. Most of the products that the company offers seem to be designed specifically for the foreman or business owner who manages a team of five drivers.

It’s difficult to get a lot of information on PXRE as they seem to be one of the smaller branches of Tawa, but your insurance underwriter may be able to connect you with the company.

In any event, you’re better off simply looking for the Tawa name rather than PXRE.

Tawa provide more or less uniform coverage and service across all of its subsidiaries, so there’s little reason to prioritize one of these subsidiaries over any of the others.

Talk to your agent and see if Tawa or any of their subsidiaries, PXRE or any of the others, have a policy that matches your needs. If you want to find your auto insurance quotes online, make sure you type in your ZIP code into our FREE comparison tool!