During the late 1990s and early 2000s rates charged to Long Term Care facilities for Healthcare Professional Liability Insurance were skyrocketing, in some cases increasing over 1000% in just a couple of years. The market was in chaos; rates were increasing, stricter underwriting guidelines were enforced, carriers were dropping out to the market, Long Term Care operators were going “bare” (un-insured) or bust…Gotham was burning. Out of the rubble Westwood Insurance Group was founded as the exclusive distributor for an innovative and desperately needed Healthcare Professional Liability program serving the Long Term Care industry.
The success of that partnership attracted the interest of American Safety Insurance (NYSE: ASI), who in 2008, bought Westwood Insurance Group. The acquisition by ASI provided the platform for Westwood to grow into a full service P&C insurance wholesaler serving all the needs encountered in the rapidly growing healthcare industry.
Westwood Insurance Group was purchased in 2010 by investors who believe the demand for P&C insurance products by the Healthcare Industry will be the greatest growth area in the insurance industry. Our vision is to create a national wholesale facility dedicated to providing superior products and services to our clients. Built on a foundation that Westwood, our clients and our carriers, would work together in the spirit of a true partnership. A partnership dedicated to treating each other with dignity and respect and guided by the principal that we treat each other in a manner in which we wish to be treated.
We are grateful to the agents that have sought our products and services; of the carriers that have provided those products and services; our loyal insureds; and our dedicated staff at Westwood Insurance that every day help make this vision come true.