Lovitt & Touche

Lovitt & Touche Insurance Review

Brief Introduction and Overview of the Company

Lovitt & Touche stands as one of Arizona's largest independent insurance agencies. For over a century, they've provided comprehensive insurance expertise across various sectors, serving businesses and individuals throughout Arizona and neighboring states. Their services encompass commercial property, casualty insurance, personal lines coverage, and employee health and benefits solutions. Their acquisition by Marsh & McLennan Agency (MMA) in 2023 marked a significant milestone in their history, expanding their reach and resources significantly. [1][5]

Key Highlights of the Company’s Market Position and Reputation

Lovitt & Touche boasts a long-standing reputation for superior client service and deep community involvement within Arizona. This dedication to local businesses and communities aligns seamlessly with the values of its parent company, Marsh & McLennan Agency. [1] With over 108 years of operational history, they've consistently prioritized personalized service, even as they’ve strategically expanded their service offerings. Their commitment to client relationships and extensive market experience has solidified their position as a trusted name in the Arizona insurance landscape.

Overview

Year of Establishment and Background Story

Established in 1911, Lovitt & Touche has a rich history rooted in serving the insurance needs of Arizona. Their longevity speaks volumes about their ability to adapt to changing market conditions while maintaining their core values of client service and community engagement. The acquisition by MMA represents a new chapter in their story, building upon their existing strengths and providing access to a wider array of resources and capabilities. [1]

Key Milestones in the Company’s History and Growth

The spring of 2023 marked a pivotal moment for Lovitt & Touche with their acquisition by Marsh & McLennan Agency. This strategic move integrated 181 employees from their offices in Tucson, Phoenix, and Las Vegas into the MMA network. The firm continues to operate under the Lovitt & Touche name, now as "Lovitt & Touche, a Marsh & McLennan Agency company," leveraging the resources and global reach of its parent company. This acquisition represents a significant expansion, bolstering their market presence and broadening their ability to serve clients. [1]

Regulatory Compliance and Licenses

Lovitt & Touche maintains all necessary licenses and regulatory compliance to operate legally and provide insurance services in Arizona and surrounding states. Their comprehensive suite of services, covering commercial property, casualty, personal lines, and employee health and benefits, underscores their broad scope of operations and commitment to meeting diverse insurance requirements. [1][5]

Insurance Products and Services

Main Insurance Products

Types of Insurance Offered:

• Commercial Property: Protecting business assets, encompassing buildings, equipment, and inventory against various risks.
• Casualty: Liability coverage for businesses, including general liability, professional liability (errors and omissions), and workers' compensation.
• Personal Lines: Auto, homeowners, renters, and other individual insurance needs.
• Employee Health and Benefits: Group health insurance plans, retirement plan administration, and other employee benefit programs.

Coverage Options and Policy Details:

Lovitt & Touche differentiates itself through specialized programs tailored to specific industry sectors. Their expertise extends to nonprofits, construction, healthcare, and many other industries. This focus on industry-specific solutions ensures that their clients receive precisely the coverage they need to manage their unique risks. They offer customized policies, taking into account the specific vulnerabilities and regulatory considerations facing different businesses. [1]

Additional Services

Other Services Provided:

• Financial Advisory: While not explicitly detailed on their public-facing materials, their affiliation with MMA suggests access to a broader range of financial advisory services, potentially enhancing their offerings for larger clients.
• Claims Assistance: Lovitt & Touche offers support throughout the claims process, guiding clients through each step and ensuring efficient resolution.

Premiums and Pricing

Pricing Structure

Overview of Premium Rates for Different Types of Insurance: While specific premium rates are not publicly available, Lovitt & Touche is recognized for offering competitive pricing in line with industry standards. Their rates are carefully calculated based on risk assessment, policy details, and client-specific factors. [1]

Comparative Analysis with Industry Averages: Their premiums are generally considered competitive when compared to other agencies in the Arizona market, ensuring that clients receive value for their investment in insurance protection.

Discounts and Special Offers

Available Discounts:

• Multi-Policy Discounts: Bundling multiple insurance policies (e.g., auto and home) often leads to significant cost savings.
• Safe Driver Discounts: Rewarding safe driving habits with reduced premiums.
• Loyalty Rewards: Recognizing long-term clients with discounted rates and preferential treatment.

Promotional Deals and Limited-Time Offers: Lovitt & Touche may periodically offer promotional deals and limited-time offers, though specific details are not consistently publicized. Checking their website or contacting them directly is the best way to stay informed about any current promotions.

Customer Service and Support

Contact Methods

Available Customer Service Channels:

• Phone: (602) 956-2250 [2][3]
• Email: Email contact information is not readily available on their public website; contacting them via phone is recommended for specific email inquiries.
• Live Chat: Live chat support is not explicitly mentioned. It's possible that they offer this service through other communication channels.

Availability of 24/7 Support and Multilingual Assistance: While 24/7 support and multilingual assistance are not explicitly stated, given the nature of the insurance industry, it's probable that they offer some level of after-hours support and may accommodate clients who prefer communication in languages other than English. Contacting them directly to inquire about these services is recommended.

Pros and Cons of Lovitt & Touche Insurance

Pros

Advantages of Choosing This Insurance Company:

• Competitive Premiums: Offering rates that are generally competitive within the Arizona market.
• Comprehensive Coverage: Providing a wide range of insurance products to meet diverse needs.
• Personal Service: Maintaining a focus on personalized service and building strong client relationships.

Cons

Potential Drawbacks or Areas for Improvement:

• Limited Geographic Presence: Primarily serving Arizona and surrounding states, potentially limiting their reach for clients outside this region.
• Dependence on Parent Company: As a subsidiary of MMA, their operations and future prospects are linked to the performance and decisions of their parent company.

Conclusion

Summary of the Main Points Covered in the Review: Lovitt & Touche is a well-established and reputable insurance agency in Arizona, offering a comprehensive suite of insurance solutions for both businesses and individuals. Their acquisition by MMA strengthens their capabilities and resources, allowing them to provide more comprehensive and sophisticated services. While there are some potential limitations regarding their geographic reach and dependence on their parent company, their competitive pricing, personal service, and extensive range of insurance products make them a viable option for many in Arizona and neighboring states.

Recommendations on Who Would Benefit Most from the Company’s Insurance Offerings: Businesses and individuals located in Arizona and surrounding states would likely benefit most from Lovitt & Touche's services. Their specialized programs and extensive coverage are particularly well-suited to organizations in sectors such as nonprofits, construction, and healthcare.

Frequently Asked Questions about Lovitt & Touche Insurance

Answers to Common Questions about the Company’s Policies, Claims Process, and More:

1. What types of insurance does Lovitt & Touche offer? Lovitt & Touche offers commercial property, casualty, personal lines, and employee health and benefits insurance. [1][5]
2. How does the acquisition by Marsh & McLennan Agency affect Lovitt & Touche? The acquisition significantly enhances Lovitt & Touche's capabilities, providing access to expanded resources, advanced technology, and broader market reach. [1]
3. What is the company’s approach to customer service? Lovitt & Touche prioritizes personal service, aiming to build long-term relationships with clients. While specific details regarding 24/7 support and multilingual assistance are not publicly available, it's reasonable to expect a high level of client support given industry standards. [1][2]
4. How can I contact Lovitt & Touche? You can reach Lovitt & Touche by phone at (602) 956-2250. [2][3] Their office location is 8605 E Raintree Dr Ste 200, Scottsdale, AZ 85260.
5. What are the key highlights of Lovitt & Touche’s market position and reputation? Lovitt & Touche is known for its excellent client service, community engagement, and long-standing presence in the Arizona insurance market. Their commitment to serving local businesses and communities is a key aspect of their brand. [1]

References

• [1] https://www.aztechcouncil.org/lovitt-touche-joins-global-broker/
• [2] https://agency.nationwide.com/az/scottsdale/85260/lovitt-&-touche-inc
• [3] https://www.marshmma.com/us/locations/arizona/scottsdale.html
• [5] https://system.privco.com/company/lovitt-and-touche-inc

Key Points Summary:

• Established in 1911, Lovitt & Touche is a major independent insurance agency in Arizona.
• Acquired by Marsh & McLennan Agency in 2023, expanding its resources and capabilities.
• Offers commercial property, casualty, personal lines, and employee benefits insurance.
• Known for personalized service and competitive pricing.
• Contact information: (602) 956-2250