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Berkshire Life Insurance Company of America
....and their relationship to Guardian.
by Anthony Delvecchio
E-Mail Anthony Delvecchio

A Brief History
In 1851, a mutual insurer named Berkshire Life Insurance Company was founded. In 2001, Berkshire Life Insurance Company merged with The Guardian Life Insurance Company of America. As a result of that merger, Berkshire Life Insurance Company ceased operating as an independent insurer and Berkshire Life Insurance Company of America was created.

Structure
Berkshire Life Insurance Company of America (BLICOA) is a wholly owned stock subsidiary of Guardian. They also maintain autonomy as a standalone insurance company. Berkshire is an independent financial entity responsible for its own claims and liabilities. In 2010, Berkshire Life paid out more than $223.3 million in disability income benefits.

Financial Strength
Berkshire has consistently been recognized as one of the top insurance companies when comparing their financial strength as related to other insurance companies. Berkshire received a 99 Comdex Ranking.¹ What is the Comdex Ranking? The Comdex Ranking is a composite of all the rankings a company has received. Each company is then awarded a number from 1 to 100, 100 being the strongest. The number represents the company’s percentile rank in relation to other companies. In order to receive a Comdex Ranking, an insurance company must have received ratings from at least 2 of the 4 ratings companies.

In addition to their Comdex Ranking, Berkshire Life Insurance Company of America’s financial strength is evident by looking at the following numbers:
· Total Assets of $2.8 billion
· Capital and surplus of $494 million
· Direct in-force disability premium of $552 million
· Total liabilities of $2.3 billion
· Total of 271,655 disability policies in force
· A.M. Best Company Rating A++
· S&P Rating AA+
*Figures current as of December 2010.

Berkshire’s Role
Headquartered in Pittsfield, Massachusetts, Berkshire’s main responsibility is the growth of Guardian’s individual disability insurance portfolio. Berkshire is in charge of the underwriting and issuance of the disability insurance, while, the responsibility of distribution resides with Guardian. Berkshire is consistently one of the leading companies in individual non-cancellable disability insurance sales.

Berkshire’s Outstanding Policy Owner Service History
Berkshire is committed to superb customer service. They have repeatedly been recognized by DALBAR for their excellence in Policy Owner Service Premium Payments, Policy Owner Service DI Policy Administration and Agent Interactions of DI New Business and Underwriting. Who is DALBAR? DALBAR is the nation’s leading financial services market research firm. Through a variety of ratings and evaluations are committed to raising the standards of excellence in the financial services and healthcare industries.

All in all, Berkshire is a strong reliable company with a focus on quality disability insurance and outstanding customer service. If you are a current or prospective policy holder, you should feel confident in doing business with the Berkshire Life Insurance Company of America.

¹ (VitalSigns, April 2011)

Anthony DelVecchio, Financial Representative, The Guardian Life Insurance Company of America (Guardian), New York, NY. The views and opinions expressed here are that of the author and do not necessarily represent the views and opinions of The Guardian Life Insurance Company of America, its subsidiaries or affiliates.

Published February 20, 2012 by Anthony Delvecchio

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