The Global Specialty insurance line offers specialized products, such as maritime, energy, aviation, professional liability and crisis management products, which are offered through 40 Liberty International Underwriters offices around the world.
Liberty MutualGroup owns, in whole or in part, local insurance companies in Argentina, Brazil, Chile, China (including Hong Kong), Colombia, Ecuador, India, Ireland, Malaysia, Poland, Portugal, Singapore, Spain, Thailand, Turkey, the United Kingdom, Venezuela and Vietnam. In 1964, Liberty Mutual expanded its portfolio to include life insurance through its Liberty Life Assurance branch. In the United States, Liberty Mutual is still an investment company in which insured persons holding insurance contracts are considered shareholders of the company.
One of the most common mistakes drivers make when taking out car insurance for the first time is buying only the minimum amount of insurance coverage. Over the years, Liberty Mutual has become one of the largest insurers with a P&C in the world, thanks to several strategic acquisitions. In addition to offering insurance to businesses, Liberty Mutual also offers auto insurance, home insurance, life insurance and other products to people in the United States and Canada. In 1964, Liberty Life Assurance Company of Boston was created to offer a full range of individual and group life insurance products.
Similarly, comprehensive insurance covers the policyholder's car if it is damaged by something other than an accident, such as vandalism, fire, or natural disaster. In 1973, Liberty Mutual opened its first wholly-owned international office, located in London, to participate in the international reinsurance market. Because of its growing range of activities, the Massachusetts Employee Insurance Association was no longer an appropriate name; therefore, in August of 1917, the company changed its name to Liberty Mutual Insurance Company. A Liberty Mutual full-coverage policy generally refers to auto insurance that includes the state's minimum requirements, along with collision and comprehensive insurance, that protects the policyholder's vehicle.
The name was changed in 1917 to Liberty Mutual Insurance Company and, through partnerships, the company began offering full-coverage auto policies. Liberty Mutual Group is a diversified global American insurer and the sixth largest property and accident insurer in the United States. One day it would change its name to Liberty Mutual Fire Insurance and, eventually, it would become one of the components of Liberty Mutual Holding Company.