--- title: "Applied Underwriters Insurance Review [Updated 2026]" description: "Applied Underwriters, founded in 1994, specializes in workers' compensation insurance through a network of affiliate carriers rated A- (Excellent) by AM Best, though the company faces ongoing regulatory challenges in California." canonical: "https://www.coveragecat.com/reviews/applied-underwriters" last-updated: "2026-08-13" --- # Applied Underwriters Insurance Review [Updated 2026] Applied Underwriters operates as a global risk services firm that helps businesses manage uncertainty through insurance products and risk management services. Steve Menzies founded the company in 1994, and it focuses primarily on [workers' compensation insurance](https://www.investopedia.com/terms/w/workers-compensation.asp) for small to mid-sized businesses. The company operates through several affiliated insurance carriers, including California Insurance Company, Continental Indemnity Company, Illinois Insurance Company, Pennsylvania Insurance Company, and Texas Insurance Company. These entities form what AM Best refers to as the North American Casualty Group (NAC), which includes companies domiciled in New Mexico and Texas [(Applied Underwriters, "AM Best Affirms North American Casualty Companies' Ratings", 2026)](https://www.auw.com/about-us/news/article/north-american-casualty-companies-ratings). Applied Underwriters maintains its operational headquarters in Omaha, Nebraska, and operates throughout the US, UK, EU, and Middle East. The company reportedly employs approximately 1,000 people across North America and Europe [(LeadIQ, "Applied Underwriters Company Overview", 2025)](https://leadiq.com/c/applied-underwriters/5a1d89b42400002400630b4d) and reports annual revenue of $375 million as of December 2025. ## What Kinds of Insurance Does Applied Underwriters Offer? Applied Underwriters specializes in [workers' compensation insurance](https://www.investopedia.com/terms/w/workers-compensation.asp), though the company has expanded its offerings over three decades. The company holds licenses to sell insurance in all U.S. states [(Insurance Journal, "Applied Underwriters, Inc. Company Card", 2026)](https://www.insurancejournal.com/directories/companycard.php?compid=1390), though certain products may not be available in every jurisdiction. Applied Underwriters offers the following products: - Workers' compensation insurance - Commercial auto insurance - General liability insurance - Property insurance - Directors and officers (D&O) insurance - Cyber liability insurance - Transportation liability - Financial lines insurance - Surety bonds - Aerospace insurance - Fine art insurance The company targets small to mid-sized businesses with three or more employees and works with accounts where annual premiums exceed $250,000 [(Workers Compensation Shop, "Applied Underwriters Workers Compensation", 2026)](https://www.workerscompensationshop.com/workers-compensation-services/companies/applied-underwriters). ## Does Applied Underwriters Offer Personal Lines Insurance? Applied Underwriters does not focus on personal lines insurance products such as [homeowners insurance](https://www.coveragecat.com/insurance-types/homeowners-insurance), [auto insurance](https://www.coveragecat.com/insurance-types/car-insurance), or [renters insurance](https://www.coveragecat.com/insurance-types/renters-insurance). The company operates in the commercial insurance space, with a particular emphasis on workers' compensation coverage for businesses. While the company's affiliate carriers have historically written some homeowners insurance [(Insurance Business America, "Applied Underwriters Company Profile", 2017)](https://www.insurancebusinessmag.com/us/companies/applied-underwriters/66995/), this does not appear to be a current focus of the business. Consumers who need personal insurance coverage should consider carriers that specialize in those products. ## How Does Applied Underwriters Work? Applied Underwriters sells its insurance products exclusively through a network of independent insurance agents and brokers [(Applied Underwriters, "Applied Underwriters Customer Information", 2026)](https://www.auw.com/practices/customers). The company does not sell directly to consumers, so potential customers must contact a licensed agent to obtain quotes and purchase coverage. The company offers several proprietary insurance programs: **SolutionOne**: This is Applied Underwriters' flagship workers' compensation program available to businesses of various sizes. **EquityComp**: The company was founded in the early 1990s to offer creative risk management options for premiums greater than $250,000. This program includes an equity participation component. The EquityComp program has faced regulatory scrutiny in multiple states, including a $3 million fine from New York's Department of Financial Services in 2019 for offering workers' compensation bundled with unapproved "Reinsurance Participation Agreements" [(New York Department of Financial Services, "DFS Fines Applied Underwriters $3 Million for Unlicensed Workers' Comp Insurance Business", 2019)](https://www.dfs.ny.gov/reports_and_publications/press_releases/pr1907181). **JumboGC**: This program targets larger businesses with payrolls exceeding $2 million and provides comprehensive general liability coverage. Applied Underwriters also provides value-added services to policyholders, including accident prevention programs and access to the Workers' Compensation Almanac [(Applied Underwriters, "Applied Underwriters About Us", 2026)](https://www.auw.com/about-us). Applied Underwriters advertises a 24-hour contact commitment for every claim as well as a claims closure rate 2.5 times faster than the industry average for the past five accident years. ## Applied Underwriters Pricing Specific pricing information for Applied Underwriters insurance products is not publicly available, as rates depend on numerous factors specific to each business. Workers' compensation coverage costs vary based on industry classification, claims history, and other underwriting factors. The company states that "safety conscious organizations have a significant potential to save a significant amount of money compared to traditional first dollar coverage options" and offers "a 3-year rate lock on class code rating which improves predictability." | Pricing Factor | Impact on Premium | |---------------|------------------| | Industry Classification | High-risk industries pay significantly more than low-risk classifications | | Company Payroll Size | Larger payrolls increase total premium but may reduce per-employee costs | | Claims History | Companies with frequent claims face higher premiums | | Number of Employees | More employees increase exposure and premium | | Geographic Location | State regulations and local labor costs affect pricing | | Safety Programs | Active risk management programs can reduce premiums | To obtain accurate pricing, businesses should contact an independent insurance agent who works with Applied Underwriters. ## Applied Underwriters Customer Service Applied Underwriters provides customer service through multiple channels. The company operates during standard business hours, Monday through Friday from 9:00 a.m. to 5:00 p.m. [(Yelp, "Applied Underwriters Incorporated Yelp Reviews", 2026)](https://www.yelp.com/biz/applied-underwriters-incorporated-omaha). ### Contact Information **General Customer Service**: (877) 234-4420 [(Applied Underwriters, "Applied Underwriters About Us", 2026)](https://www.auw.com/about-us) **Agent Assistance**: (877) 234-4450 [(Ibid., "Applied Underwriters Customer Information", 2026)](https://www.auw.com/practices/customers) **Claims Services**: (877) 234-4420 **Mailing Address**: 10805 Old Mill Road, Omaha, NE 68154 [(Insurance Journal, "Applied Underwriters, Inc. Company Card", 2026)](https://www.insurancejournal.com/directories/companycard.php?compid=1390) The company works exclusively through independent agents and brokers, so policyholders contact their agent first for service needs. Applied Underwriters provides direct support for claims and technical assistance. ## How to File a Claim with Applied Underwriters Applied Underwriters promises a 24-hour contact commitment for every claim. To file a claim, policyholders should call the claims services line at (877) 234-4420. The company states that its claims closure rate has been 2.5 times faster than the industry average for the past five accident years. The carrier assigns low caseload numbers to its adjusters, allowing them to better manage claims and close them quickly. Policyholders receive free accident prevention services as part of their coverage [(Applied Underwriters, "Applied Underwriters About Us", 2026)](https://www.auw.com/about-us), which may help reduce the frequency and severity of claims. ## Applied Underwriters Pros and Cons
### Pros **Financial Rating**: AM Best has affirmed the Financial Strength Rating of 'A-' (Excellent) and Long-Term Issuer Credit Ratings of 'a-' of companies collectively referred to as North American Casualty Group (NAC) (Ibid., "AM Best Affirms North American Casualty Companies' Ratings", 2026). **Claims Processing**: Applied Underwriters touts a claims closure rate that is 2.5 times faster than the industry average for the past five accident years. **High Retention Rate**: The company claims customer retention rates exceeding 90% (Insurance Business America, "Applied Underwriters Company Profile", 2017). **Rate Stability**: The company offers "a 3-year rate lock on class code rating which improves predictability." **Value-Added Services**: The company provides free accident prevention programs and educational resources (Applied Underwriters, "Applied Underwriters About Us", 2026). **Broad Coverage**: Licensed in all states, though workers' compensation is not available in Ohio, North Dakota, Washington, and Wyoming (Workers Compensation Shop, "Applied Underwriters Workers Compensation", 2026).
### Cons **Downgraded Rating**: AM Best downgraded the financial strength rating of Applied Underwriters' California Insurance Company to A- (Excellent) from A (Excellent) in July 2025 (AM Best, "AM Best Downgrades Credit Ratings of California Insurance Company", 2025). **Limited Availability**: Workers' compensation products are not available in all states (Workers Compensation Shop, "Applied Underwriters Workers Compensation", 2026). **High Minimum Premiums**: The company targets accounts with annual premiums greater than $250,000, making it less accessible to smaller businesses. **Regulatory Challenges**: The company faces ongoing regulatory disputes with California authorities and received a $3 million fine from New York's Department of Financial Services in 2019 (New York Department of Financial Services, "DFS Fines Applied Underwriters $3 Million for Unlicensed Workers' Comp Insurance Business", 2019). **Agent-Only Distribution**: Businesses cannot purchase coverage directly and must work through independent agents (Applied Underwriters, "Applied Underwriters Customer Information", 2026). **Not BBB Accredited**: The company is not BBB accredited and has failed to respond to at least one complaint (Better Business Bureau, "Applied Underwriters, Inc. BBB Business Profile", 2026).
## Applied Underwriters Ratings and Customer Reviews Applied Underwriters receives mixed reviews from customers and employees. The company's ratings vary significantly across different platforms: | Source | Rating | Notes | |--------|--------|-------| | A.M. Best | A- (Excellent) | Financial Strength Rating affirmed for North American Casualty Group (NAC) [(Ibid., "AM Best Affirms North American Casualty Companies' Ratings", 2026)](https://www.auw.com/about-us/news/article/north-american-casualty-companies-ratings) | | Demotech | Not rated | Applied Underwriters is not directly rated by Demotech; however, the company's former affiliate Centauri Specialty Insurance Company and Centauri National Insurance Company were rated "A" (Exceptional) by Demotech | | NAIC Complaint Index | Not available | No specific complaint index data found for Applied Underwriters | | Yelp | 1.5 out of 5 | Based on customer reviews [(Yelp, "Applied Underwriters Incorporated Yelp Reviews", 2026)](https://www.yelp.com/biz/applied-underwriters-incorporated-omaha) | | Google Maps | Not available | No Google Maps reviews found for headquarters location | | Trustpilot | Not listed | Applied Underwriters does not have a Trustpilot profile | | BBB | B- (Not Accredited) | B- rating with failure to respond to 1 complaint filed against business [(Better Business Bureau, "Applied Underwriters, Inc. BBB Business Profile", 2026)](https://www.bbb.org/us/ne/omaha/profile/insurance-companies/applied-underwriters-inc-0714-104001134) | | Glassdoor (Employee) | 2.6 out of 5 | Based on 349 company reviews [(Glassdoor, "Applied Underwriters Reviews", 2026)](https://www.glassdoor.com/Reviews/Applied-Underwriters-Reviews-E111103.htm) | Applied Underwriters claims customer retention rates exceeding 90% [(Insurance Business America, "Applied Underwriters Company Profile", 2017)](https://www.insurancebusinessmag.com/us/companies/applied-underwriters/66995/), though this comes from company materials rather than independent verification. ### What Customers Say About Applied Underwriters Customer feedback for Applied Underwriters is mixed. Workers' compensation insurance often involves complex interactions with multiple business services, which can create friction points in customer relationships. The carrier has numerous negative online reviews that may be difficult to overcome, even if it offers a solid insurance product and unique options. The company's low ratings on some platforms suggest concerns about overall value. While Applied Underwriters maintains strong financial ratings from AM Best, these ratings measure the carrier's financial strength and ability to pay claims rather than customer service quality. The gap between financial ratings and customer satisfaction reviews makes us hesitate to strongly recommend Applied Underwriters for workers' compensation coverage. ## Applied Underwriters Financial Strength AM Best has affirmed the Financial Strength Rating of 'A-' (Excellent) and Long-Term Issuer Credit Ratings of 'a-' for the North American Casualty Group [(Applied Underwriters, "AM Best Affirms North American Casualty Companies' Ratings", 2026)](https://www.auw.com/about-us/news/article/north-american-casualty-companies-ratings). This represents a downgrade from the company's previous A (Excellent) rating, which AM Best reduced in July 2025 [(AM Best, "AM Best Downgrades Credit Ratings of California Insurance Company", 2025)](https://news.ambest.com/newscontent.aspx?refnum=247211). Applied Underwriters attributed the rating change to the "slow resolution" of its conflict with the California Department of Insurance. NAC's risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), is assessed at the strongest level. Balance sheet strength also benefits from the company's strong liquidity profile, conservative investment strategy, and disciplined reserving. The ratings agency noted NAC has a track record of "strong operating earnings, underpinned by its robust underwriting performance." The company reports substantial capital and surplus backing its insurance operations. ## Recent Developments and Regulatory Challenges Applied Underwriters has undergone significant changes in recent years. The company was founded in 1994 by Steve Menzies. In 2005, Berkshire Hathaway acquired an 81% share. In October 2019, Menzies reacquired the company, joined by the Quasha Group led by Quadrant Management. The transaction, valued at $920 million, included the buyout of all other shareholders including the 81% of the company's stock held by Berkshire Hathaway Inc. The company faces ongoing regulatory challenges in California. The California Supreme Court declined to review lower court rulings that upheld the state's rehabilitation plan for California Insurance Company [(Workers' Comp Executive, "Applied Underwriters' / CIC Rejected Again", 2025)](https://www.wcexec.com/article/applied-underwriters-cic-rejected-again/). The six-year legal battle between California Insurance Company and California Department of Insurance continues to affect company operations [(PR Newswire, "California Insurance Company Weighs Options Following Latest Turn in Six-Year Battle with CDI", 2025)](https://www.prnewswire.com/news-releases/the-california-insurance-company-cic-weighs-options-following-latest-turn-in-six-year-battle-with-california-department-of-insurance-cdi-302494955.html). Applied Underwriters completed several strategic initiatives in 2024 and 2025. In April 2025, the company spun off United Risk as an independent, stand-alone company [(Applied Underwriters, "Applied Underwriters Completes Spin-off of its Subsidiary United Risk", 2025)](https://auw.com/about-us/news/article/auw-completes-spin-off-of-subsidiary-united-risk). United Risk is a global property/casualty underwriting platform comprised of 28 different managing general agent (MGA) and underwriter (MGU) specialized insurance programs, with more than 30 offices around the world, including New York, London and Paris, and more than 250 insurance professionals. In July 2025, Applied Underwriters launched Innovation Risk, a new managing general agent (MGA) platform focused on casualty, accident and life underwriting [(Insurance Journal, "Applied Underwriters Starts MGA Platform Innovation Risk", 2025)](https://www.insurancejournal.com/news/national/2025/07/29/833554.htm). Initial operations are planned for the United States and the European Union. The company also acquired Florida Casualty Insurance Co. in March 2021 and completed the acquisition of the majority of Argo's remaining surety business in July 2024 [(LeadIQ, "Applied Underwriters Company Overview", 2025)](https://leadiq.com/c/applied-underwriters/5a1d89b42400002400630b4d). ## Frequently Asked Questions About Applied Underwriters **What states does Applied Underwriters operate in?** Applied Underwriters holds licenses in all U.S. states [(Insurance Journal, "Applied Underwriters, Inc. Company Card", 2026)](https://www.insurancejournal.com/directories/companycard.php?compid=1390), though workers' compensation products are not available in Ohio, North Dakota, Washington, and Wyoming [(Workers Compensation Shop, "Applied Underwriters Workers Compensation", 2026)](https://www.workerscompensationshop.com/workers-compensation-services/companies/applied-underwriters). **What is Applied Underwriters' AM Best rating?** AM Best has affirmed the Financial Strength Rating of 'A-' (Excellent) for the North American Casualty Group [(Applied Underwriters, "AM Best Affirms North American Casualty Companies' Ratings", 2026)](https://www.auw.com/about-us/news/article/north-american-casualty-companies-ratings), down from A (Excellent) prior to July 2025. **Does Applied Underwriters offer homeowners insurance?** No, Applied Underwriters focuses on commercial insurance, particularly workers' compensation. The company does not actively market personal lines products like [homeowners insurance](https://www.coveragecat.com/insurance-types/homeowners-insurance), [auto insurance](https://www.coveragecat.com/insurance-types/car-insurance), or [renters insurance](https://www.coveragecat.com/insurance-types/renters-insurance). **Can I buy Applied Underwriters insurance directly?** No, Applied Underwriters sells exclusively through independent insurance agents and brokers [(Ibid., "Applied Underwriters Customer Information", 2026)](https://www.auw.com/practices/customers). You must contact a licensed agent to obtain quotes and purchase coverage. **What is the minimum premium for Applied Underwriters coverage?** Applied Underwriters targets accounts with annual premiums greater than $250,000 [(Workers Compensation Shop, "Applied Underwriters Workers Compensation", 2026)](https://www.workerscompensationshop.com/workers-compensation-services/companies/applied-underwriters), making the company better suited for mid-sized to larger businesses rather than very small operations. **What happened with Applied Underwriters and Berkshire Hathaway?** In 2005, Berkshire Hathaway acquired an 81% share. In October 2019, founder Steve Menzies, joined by the Quasha Group led by Quadrant Management, reacquired the company in a transaction valued at $920 million. **What is the California conservation issue about?** California Insurance Company, an affiliate of Applied Underwriters, has been under conservation overseen by the San Mateo court since November 2019. The California Supreme Court declined to review lower court rulings supporting the state's position [(Workers' Comp Executive, "Applied Underwriters' / CIC Rejected Again", 2025)](https://www.wcexec.com/article/applied-underwriters-cic-rejected-again/), leaving in place a rehabilitation plan that will move the carrier out of California. **How fast does Applied Underwriters process claims?** Applied Underwriters reports a claims closure rate 2.5 times faster than the industry average for the past five accident years, though specific timelines vary by claim type and complexity. **Is Applied Underwriters good insurance?** Applied Underwriters maintains strong financial ratings (A- Excellent from AM Best) but receives mixed customer reviews. The company best serves mid-sized to larger businesses with annual premiums exceeding $250,000 that can benefit from its specialized workers' compensation programs and risk management services. Businesses should weigh the company's financial strength against regulatory challenges and varied customer feedback when considering Applied Underwriters insurance.