Headquartered in Boston, Massachusetts, and established in 1912, Liberty Mutual is the fifth-largest global property and casualty insurer. Liberty Mutual originally began providing workers’ compensation insurance but started selling auto insurance policies six years later with the increase in automobiles on the roads. Safety and innovation have always been a cornerstone at the core of Liberty Mutual. The company was integral in creating the stop switch on escalators and developing a “safety car” with Cornell in 1957.
Liberty Mutual customizes personal insurance policies so that customers only pay for coverage that they need.
Liberty Mutual has three central business units – personal insurance lines, commercial insurance lines, and Liberty Mutual Investments. Liberty Mutual ranks 75th on the Fortune 100 list of largest corporations in the U.S. based on 2018 revenue. Liberty Mutual offers a range of personal and commercial insurance products and services, including but not limited to automobile, homeowners, specialty lines, reinsurance, workers compensation, general liability, surety, and commercial property.
Its personal insurance line is branded under both Liberty Mutual Insurance and Safeco, an acquisition that took place in 2008. More than 10,000 insurance agencies in the United States carry Safeco products. The commercial line falls into two categories: Business Insurance, which insures companies with fewer than 1,000 employees, and National Insurance, which services businesses with more than 1,000 employees. The commercial line covers both property and casualty insurance.