Play Video
1
Liberty Mutual Full Commercial - Best Commercial EVER!
Liberty Mutual Full Commercial - Best Commercial EVER!
::2012/12/24::
Play Video
2
Myth-busting Episode 2: Liberty Mutual Sales Career
Myth-busting Episode 2: Liberty Mutual Sales Career
::2013/11/05::
Play Video
3
Crazy Liberty Mutual Insurance Commercial
Crazy Liberty Mutual Insurance Commercial
::2014/01/14::
Play Video
4
RISE: J.R. Celski, a film by Liberty Mutual
RISE: J.R. Celski, a film by Liberty Mutual
::2013/11/15::
Play Video
5
Myth-busting Episode 1: Liberty Mutual Sales Career
Myth-busting Episode 1: Liberty Mutual Sales Career
::2013/11/05::
Play Video
6
Liberty Mutual Insurance Commercial Amateur Athletes
Liberty Mutual Insurance Commercial Amateur Athletes
::2013/06/11::
Play Video
7
Liberty Mutual Intern Challenge
Liberty Mutual Intern Challenge
::2013/08/03::
Play Video
8
Myth-busting Episode 2_ Liberty Mutual Sales Career.flv
Myth-busting Episode 2_ Liberty Mutual Sales Career.flv
::2014/03/04::
Play Video
9
Liberty Mutual "Pay it Forward" Commercial
Liberty Mutual "Pay it Forward" Commercial
::2010/07/03::
Play Video
10
RISE_ J.R. Celski, a film by Liberty Mutual.flv
RISE_ J.R. Celski, a film by Liberty Mutual.flv
::2014/03/04::
Play Video
11
Myth-busting Episode 1_ Liberty Mutual Sales Career.flv
Myth-busting Episode 1_ Liberty Mutual Sales Career.flv
::2014/03/04::
Play Video
12
RISE: Katie Uhlaender, a film by Liberty Mutual
RISE: Katie Uhlaender, a film by Liberty Mutual
::2013/12/20::
Play Video
13
Liberty Mutual Ad (1st edition): "Half Acre"
Liberty Mutual Ad (1st edition): "Half Acre"
::2006/07/09::
Play Video
14
Liberty Mutual Insurance
Liberty Mutual Insurance's Boston Home Office Expansion
::2013/07/09::
Play Video
15
RISE_ Picabo Street, a film by Liberty Mutual.flv
RISE_ Picabo Street, a film by Liberty Mutual.flv
::2014/03/04::
Play Video
16
Liberty Mutual Insurance Group interview questions
Liberty Mutual Insurance Group interview questions
::2012/08/24::
Play Video
17
Liberty Mutual-{Reviewed} 1.800.643.7544
Liberty Mutual-{Reviewed} 1.800.643.7544
::2012/04/17::
Play Video
18
RISE_ Heidi Kloser, a film by Liberty Mutual.flv
RISE_ Heidi Kloser, a film by Liberty Mutual.flv
::2014/03/04::
Play Video
19
!!A HELPING HAND IS CONTAGIOUS!! LIBERTY MUTUAL COMMERCIAL!!
!!A HELPING HAND IS CONTAGIOUS!! LIBERTY MUTUAL COMMERCIAL!!
::2009/03/29::
Play Video
20
insurance law - Liberty Mutual Insurances Boston Home Office Expansion
insurance law - Liberty Mutual Insurances Boston Home Office Expansion
::2013/09/17::
Play Video
21
Liberty Mutual Insurance Commercial    Humans Base Auto  30   YouTube
Liberty Mutual Insurance Commercial Humans Base Auto 30 YouTube
::2013/06/14::
Play Video
22
RISE_ Max Aaron, a film by Liberty Mutual.flv
RISE_ Max Aaron, a film by Liberty Mutual.flv
::2014/03/04::
Play Video
23
Myth-busting Episode 3_ Liberty Mutual Sales Career.flv
Myth-busting Episode 3_ Liberty Mutual Sales Career.flv
::2014/03/04::
Play Video
24
RISE: Jazmine Fenlator, a film by Liberty Mutual
RISE: Jazmine Fenlator, a film by Liberty Mutual
::2013/12/09::
Play Video
25
#RISE: Tatyana McFadden, a film by Liberty Mutual (:30)
#RISE: Tatyana McFadden, a film by Liberty Mutual (:30)
::2014/03/08::
Play Video
26
RISE  Jessica Jerome, a film by Liberty Mutual Insurance
RISE Jessica Jerome, a film by Liberty Mutual Insurance
::2013/12/27::
Play Video
27
Anti Liberty Mutual
Anti Liberty Mutual
::2011/10/21::
Play Video
28
Liberty Mutual Responsibility Film "Dave Knoll Finds His Soul"
Liberty Mutual Responsibility Film "Dave Knoll Finds His Soul"
::2009/10/16::
Play Video
29
Liberty Mutual Commercial - February 25, 2014
Liberty Mutual Commercial - February 25, 2014
::2014/02/28::
Play Video
30
RISE_ Rico Roman, a film by Liberty Mutual.flv
RISE_ Rico Roman, a film by Liberty Mutual.flv
::2014/03/04::
Play Video
31
Shared Passion_ John Solana -- Liberty Mutual Insurance.flv
Shared Passion_ John Solana -- Liberty Mutual Insurance.flv
::2014/03/04::
Play Video
32
Liberty Mutual Insurance Commercial   Better Car Replacement�
Liberty Mutual Insurance Commercial Better Car Replacement�
::2013/08/13::
Play Video
33
insurance law - Sacagawea - Liberty Mutual American Experience.mp4
insurance law - Sacagawea - Liberty Mutual American Experience.mp4
::2014/02/12::
Play Video
34
LIBERTY MUTUAL -- Responsibility. What
LIBERTY MUTUAL -- Responsibility. What's Your Policy? (#2)
::2008/02/20::
Play Video
35
RISE_ J.R. Celski, a film by Liberty Mutual -- Trailer.flv
RISE_ J.R. Celski, a film by Liberty Mutual -- Trailer.flv
::2014/03/04::
Play Video
36
RISE: Chris Klug, a film by Liberty Mutual
RISE: Chris Klug, a film by Liberty Mutual
::2013/12/20::
Play Video
37
Liberty Mutual Ad (2nd edition): "The Part Where You Let Go"
Liberty Mutual Ad (2nd edition): "The Part Where You Let Go"
::2007/05/08::
Play Video
38
Liberty Mutual Sales Academy Program.flv
Liberty Mutual Sales Academy Program.flv
::2014/03/04::
Play Video
39
RISE: Heidi Kloser TV Commercial
RISE: Heidi Kloser TV Commercial
::2014/02/19::
Play Video
40
Gus Malzahn Accepts the 2013 Liberty Mutual Coach of the Year Award
Gus Malzahn Accepts the 2013 Liberty Mutual Coach of the Year Award
::2014/01/08::
Play Video
41
#RISE: Tatyana McFadden, a film by Liberty Mutual
#RISE: Tatyana McFadden, a film by Liberty Mutual
::2014/03/08::
Play Video
42
Join Liberty Mutual
Join Liberty Mutual's Internal Audit Team
::2014/02/07::
Play Video
43
Liberty Mutual Ad 2nd edition)   The Part Where You Let Go
Liberty Mutual Ad 2nd edition) The Part Where You Let Go
::2013/10/29::
Play Video
44
Shared Passion -- Liberty Mutual Insurance.flv
Shared Passion -- Liberty Mutual Insurance.flv
::2014/03/04::
Play Video
45
#TeamUSA Liberty Mutual Hangouts w/ Jazmine Fenlator
#TeamUSA Liberty Mutual Hangouts w/ Jazmine Fenlator
::2014/02/09::
Play Video
46
RISE_ Jen Hudak, a film by Liberty Mutual.flv
RISE_ Jen Hudak, a film by Liberty Mutual.flv
::2014/03/04::
Play Video
47
Team USA - Liberty Mutual Hangout Series with Erin Hamlin
Team USA - Liberty Mutual Hangout Series with Erin Hamlin
::2014/01/17::
Play Video
48
#TeamUSA Hangout on Air w/ Erin Hamlin presented by Liberty Mutual
#TeamUSA Hangout on Air w/ Erin Hamlin presented by Liberty Mutual
::2014/02/01::
Play Video
49
#RISE: Sean Halsted, a film by Liberty Mutual (:30)
#RISE: Sean Halsted, a film by Liberty Mutual (:30)
::2014/03/08::
Play Video
50
Liberty Mutual (510D)
Liberty Mutual (510D)
::2006/10/15::
NEXT >>
RESULTS [51 .. 101]
From Wikipedia, the free encyclopedia
Jump to: navigation, search
Liberty Mutual Group
Type Mutual
Industry Insurance
Founded 1912
Headquarters 175 Berkeley Street, Boston, Massachusetts, United States
Area served Worldwide
Key people David H. Long (CEO)
Services Property and Casualty Insurance
Revenue Increase $36.9 billion[1]
Employees Increase Over 50,000 (2013)[1]
Website www.libertymutualgroup.com

Liberty Mutual Group, more commonly known by the name of its primary line of business, Liberty Mutual Insurance, is an American diversified global insurer and the third-largest property and casualty insurer in the United States based on 2012 Property and Casualty direct written premium. It ranks 81st on the Fortune 100 list of largest corporations in the United States based on 2012 revenue.[2] Based in Boston, Massachusetts, it employs over 50,000 people in more than 900 locations throughout the world. As of December 31, 2012, Liberty Mutual Insurance had $120.1 billion in consolidated assets, $101.5 billion in consolidated liabilities, and $36.9 billion in annual consolidated revenue.[1][3] The company, founded in 1912, offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, commercial multiple peril, commercial automobile, general liability, global specialty, group disability, fire and surety.[4][5]

Liberty Mutual Insurance corporate headquarters at 175 Berkeley Street, Boston

Liberty Mutual Group owns, wholly or in part, local insurance companies in Argentina, Brazil, Chile, China (including Hong Kong), Colombia, Ecuador, India, Ireland, Poland, Portugal, Russia, Singapore, Spain, Thailand, Turkey, the United Kingdom, Venezuela and Vietnam.

In the United States, Liberty Mutual remains a mutual company where policyholders holding contracts for insurance are considered shareholders in the company. However, Liberty Mutual Group's brand usually operates as a separate entity outside of the United States. In other countries, subsidiaries are often created in countries where legally-recognized mutual company benefits cannot be enjoyed.

The current CEO is David H. Long. He succeeded his predecessor Edmund (Ted) F. Kelly on June 29, 2011.[6][7] Ted Kelly was appointed CEO in 1998.[8] In April 2013, Ted Kelly stepped down from the Board of Directors, as Chairman.[9]

History[edit]

Early history[edit]

Liberty Mutual was founded in 1912 as the Massachusetts Employees’ Insurance Association (MEIA), following passage of a Massachusetts state law requiring employers to protect their employees with workers’ compensation insurance in 1911.[10] The first branch office was opened in 1914, and later that year, the company wrote its first automobile insurance policy. The company was founded as a Massachusetts Mutual Company, where its insureds have ownership in the company. The name was changed in 1917 to the Liberty Mutual Insurance Company, and through partnerships, the company began offering full-coverage auto policies.

Structural changes[edit]

In 1964, Liberty Mutual Insurance Company began offering life insurance through its Liberty Life Assurance Branch. In 2002, the company converted into its current mutual holding company structure. The conversion was controversial, as it proposed to give policyholders an interest in the mutual insurance company, which some policyholders believed would dilute their interest in the overall company and limit their dividends.[11] A lawsuit was filed, alleging that information provided to policyholders was misleading. Liberty Mutual settled the lawsuit in December 2001, which required additional disclosure and limited certain compensation to company officers and directors.[12] Despite these concerns, the plan was approved by voting policyholders around November 2001.[13] Leveraging the greater flexibility of the mutual company structure, Liberty Mutual transformed from a single-line, highly-regional insurer to one of the world's leading property and casualty insurance companies.

Growth and acquisitions[edit]

Liberty Mutual's growth has been both organic and through acquisition. Early acquisitions were small, but Liberty Mutual has made several large acquisitions over the past decade, including the high-profile acquisition of Safeco Corporation in 2008. Liberty Mutual agreed to acquire all outstanding shares of Safeco for $68.25 per share, for a total transaction price of approximately $6.2 billion. The result of this activity was an increase in revenue from $6 billion to over $30 billion in twelve years.

Liberty Mutual created a television commercial in 2006 about people doing good things for strangers, reporting that the "overwhelming" positive response they received for the ad led to their decision to create the website The Responsibility Project. [14]

Liberty Mutual is also the sole corporate sponsor of the long-running PBS documentary series, American Experience, and has produced special commercial messages for airing during American Experience broadcasts. In 2011, as part of the company's "Real America" campaign, the company introduced two new commercials featuring Sacagawea and Paul Revere.

In 2011, the company began construction of the Liberty Mutual Tower, a 22-story skyscraper as part of its World Headquarters Expansion Project.[15] The building received its certificate of occupancy in June 2013.[16]

Organizational structure[edit]

Strategic business units[edit]

Liberty Mutual conducts all of its business through four strategic business units: Personal Insurance, Commercial Insurance, Liberty International, and Global Specialty.[17]

A Liberty Mutual booth at a street fair in Andover, Massachusetts.

Personal insurance[edit]

Passenger automobile, homeowners, life, annuity, and other property and casualty insurance products are available via Liberty Mutual's Personal Insurance line. These products are branded under the Liberty Mutual Insurance and Safeco names, and are distributed via a vast network of over 2,300 sales professionals. Other distribution means are call centers, third-party producers, and the company's website. Over 10,000 insurance agencies across the United States carry Safeco-branded products.[18]

Commercial insurance[edit]

Property and casualty, as well as group benefits Commercial Insurance products fall into two distinct categories, Business Insurance and National Insurance. The former caters to businesses with fewer than 1,000 employees, while the latter serves businesses in certain industries or which have greater than 1,000 employees. Group benefits products include disability insurance and group life insurance.[18]

Liberty International[edit]

Localized insurance companies sell Liberty International's products in 18 different countries and markets. International products are offered to both individual and business customers, and include property and casualty insurance, as well as health and life insurance products. The largest international product offering is passenger automobile insurance for private individuals.[18]

Global Specialty[edit]

The Global Specialty insurance line offers specialty products, such as marine, energy, aviation, professional liability, and crisis management, offered through 40 Liberty International Underwriters offices worldwide. In addition, Liberty International Underwriters provides global multi-line insurance and reinsurance written on its Lloyd's Syndicate 4472 platform. Global Specialty also includes reinsurance products offered through Liberty Mutual Reinsurance.[18]

Subsidiary companies[edit]

  • Helmsman Management Services
  • Liberty International Underwriters (LIU)
  • Liberty Mutual Surety (LMS)
  • Liberty Mutual Reinsurance (LMR)
  • Liberty Mutual Agency Corporation
    • America First Insurance
    • Colorado Casualty
    • Golden Eagle Insurance
    • Indiana Insurance
    • Liberty Mutual Surety
    • Liberty Northwest
    • Liberty SuretyFirst
    • Montgomery Insurance
    • Ohio Casualty
    • Peerless Insurance
    • Safeco
  • Peerless Insurance

Liberty Mutual Research Institute for Safety[edit]

Founded in 1954, the Liberty Mutual Research Institute for Safety has studied the occupational safety and health of workers. Its scientific contributions include machine safeguarding guidelines, the Cornell-Liberty Survival Car, and ergonomic guidelines that have informed the basis for national and international safety standards. More recently, the Institute developed the Workplace Safety Index, which is an annual ranking of the leading causes of the most disabling occupational injuries in the United States.

The Institute's scientists conduct field and laboratory experiments to study the major causes of work-related injury and disability, publishing their results in peer-reviewed scientific literature. Institute findings are the basis for safety programs, recommendations, and software used by Liberty Mutual loss control consultants in order to help policyholders enhance worker safety. The Institute’s work is non-proprietary, and is available to the public.[19][20][21][22][23][24][25]

Customer Service To The Policy[edit]

In 2012 and 2013, a series of investigative articles were published in Liberty Mutual's hometown newspaper, The Boston Globe reported issues related to excessive compensation, weekend questionable trips using the fleet of four long-range corporate jets. These reports were by The Now-Editor of The Boston Globe newspaper, Brian McGrory. In the investigative reporting series, as a columnist, a number of questions related to the company were discovered; among them- (all cited):

In 2006, Liberty Mutual Claims Employees in the Los Angeles area desired overtime pay for work and labor accomplished related to claims work. The situation escalated, and Liberty Mutual accepted a legal question which was originally in the form of four (4) Class Action lawsuits filed by its own claims representatives, and employees. Some questions started in 2006 in North Carolina[26]

Questions of this particular suit, from Liberty Mutual Employees, resulted from company's desired service to a claim, versus claim outcomes. LibertyMutual worked on specific metrics. This case provided the company with legal precedent to claims handling and ability to process claims based on values from third party information outside of claims that repair or replace property without having to view the physical property insured. As such, Liberty Mutual closed all its locations in Los Angeles, the Nation's 2nd largest insurance market, following this action on behest of its employees.

In late 2012, the company won an appeal granting it the ability to not pay employees for work performed on an overtime basis. Pursuit was considered an award for the insurance industry as a whole.[27] In this specific case, Liberty Mutual failed to appear. Instead, they relied on an Amicus Brief filed on behalf of the US Department of Labor.[28] The Court decided, based on the Amicus Brief that Claims Personnel are exempt "Administrative Employees" and not subject to overtime pay, further supporting the Mutual Company Goals. In late 2012, The California Supreme Court also redacted court documents.[29]

"The benefits of political friendship" Provides a newspaper published report on Liberty Mutual's political ties, including ties to Deval Patrick, the current Governor of Massachusetts. This friendship likely resulted in Liberty Mutual receipt of tax breaks in the amount of $41M. [30]

"Perspectives Can Change at Liberty Mutual" Provides a newspaper published look at Liberty Mutual Claims Process; where Liberty Mutual sued its own insured for filing a claim; and forced an award against Liberty Mutual. The article also discloses that Liberty Mutual Legal Team that represented the case usually paid less than half of the judgements. [31]

"Liberty Mutual: Your premiums, his premium office" Provides a newspaper published account of CEO David H Long's desire to redecorate his 1,000sq foot office at a price of $4.5M. The article also discusses the need of the insurance company to have four corporate jets. [32]

"An Untimely Award" Provides a newspaper published report of Corporate Governance at Liberty Mutual. [33]

"View from the top at Liberty Mutual" Provides a newspaper published report from Boston Globe Editor, Brian McGrory is invited to the recently renovated CEO suite at Liberty Mutual. [34]

"Lots more to Liberty Mutual pay story" Provides a newspaper published report of a comparative analysis of other executives pay in Boston. [35]

"At Liberty Mutual, Accounting To No One For Executive Privileges" provides a newspaper published report and review of itineraries of the fleet of corporate jets, and executive compensation which includes "Make believe stock options". By virtue of a Mutual-Company setup, its customers own stock in the company. [36]

References[edit]

  1. ^ a b c http://www.libertymutualgroup.com/omapps/ContentServer?fid=3237831502381&pagename=LMGroup%2FViews%2FLMG&ft=8&cid=1240015249222
  2. ^ http://money.cnn.com/magazines/fortune/fortune500/2013/snapshots/10009.html
  3. ^ http://www.reuters.com/article/pressRelease/idUS145601+06-Mar-2009+BW20090306
  4. ^ http://www.boston.com/jobs/research/profiles/liberty_mutual_group/
  5. ^ http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=162456
  6. ^ http://www.bostonherald.com/business/general/view/2011_0610liberty_mutual_passes_the_torch_long_to_succeed_kelly_as_insurers_ceo_this_month/
  7. ^ http://www.insurancejournal.com/news/national/2005/03/31/53173.htm
  8. ^ http://www.boston.com/business/articles/2006/06/14/insurance_firm_chief_gets_27m_in_2005/
  9. ^ The Boston Globe Newspaper: "Liberty Mutual's Ted Kelly Steps Down As Chairman by Taryn Luna
  10. ^ http://www.insuranceusa.com/directorytimeline.php?id=Liberty_Mutual
  11. ^ Rambeck R. (2001). Mutual Holding Company: A Shell Game Without the Pea. Insurance Journal.
  12. ^ Lawsuit seeks to block Liberty Mutual conversion. Insure.com.
  13. ^ Liberty Mutual Policyholders Vote to Approve Mutual Holding Company Plan. A.M. Best Newswire.
  14. ^ http://www.responsibilityproject.com/about/
  15. ^ http://www.libertymutualgroup.com/omapps/ContentServer?pagename=LMGroup/Views/LMG&ft=1&fid=1239999787692
  16. ^ http://www.libertymutualgroup.com/omapps/ContentServer?c=cms_document&pagename=LMGroup%2Fcms_document%2FShowDoc&cid=1240012968902
  17. ^ http://www.libertymutualgroup.com/omapps/ContentServer?c=cms_document&pagename=LMGInvestorRelations%2Fcms_document%2FShowDoc&cid=1240012984729
  18. ^ a b c d http://www.libertymutualgroup.com/omapps/ContentServer?pagename=LMGroup/Views/LMG
  19. ^ http://www.boston.com/business/globe/articles/2004/06/28/lab_aims_to_cut_rate_of_injuries_on_the_job/
  20. ^ http://www.thefreelibrary.com/Playing+it+safely:+Liberty+Mutual's+Research+Institute+for...-a0117864358
  21. ^ http://www.thefabricator.com/Safety/Safety_Article.cfm?ID=932
  22. ^ http://www.nsc.org/news/nr091304liberty.aspx
  23. ^ http://www.cdc.gov/niosh/topics/ptd/pdfs/Braun.pdf
  24. ^ http://www.accessmylibrary.com/coms2/summary_0286-9254936_ITM
  25. ^ http://www.insurancejournal.com/news/national/2008/10/24/94972.htm
  26. ^ http://www.leagle.com/xmlresult.aspx?xmldoc=In%20FDCO%2020120927799.xml&docbase=CsLwAr3-2007-Curr
  27. ^ Business Insurance: "Claims adjuster overtime ruling a win for employers"
  28. ^ US Department of Labor: Amicus Brief from Solicitor of the Department of Labor, Gregory F Jacob
  29. ^ JDSupra Law News: "California Supreme Court De-publishes Case Holding That Insurance Adjusters Are Nonexempt Employees"
  30. ^ Boston Globe Newspaper: Liberty Mutual and Massachusetts Governor Deval Patrick - The benefits of political friendship by Brian McGrory
  31. ^ Boston Globe Newspaper: "Perspectives Can Change at Liberty Mutual" by Brian McGrory
  32. ^ Boston Globe Newspaper: Liberty Mutual - Your Premiums, His Premium Office by Brian McGrory
  33. ^ Boston Globe Newspaper: "An Untimely Award" by Brian McGrory
  34. ^ Boston Globe Newspaper: "View From The Top" by Brian McGrory
  35. ^ Boston Globe Newspaper: "Lots more to Liberty Mutual Pay Story" by Brian McGrory
  36. ^ Boston Globe Newspaper: At Liberty Mutual, Accounting To No One For Executive Privileges" by Brian McGrory

External links[edit]

Wikipedia content is licensed under the GFDL License

Mashpedia enables any individual or company to promote their own Youtube-hosted videos or Youtube Channels, offering a simple and effective plan to get them in front of our engaged audience.

Want to learn more? Please contact us at: hello@mashpedia.com

Powered by YouTube
LEGAL
  • Mashpedia © 2014