West Bend Insurance business insurance

Overview

West Bend is a Wisconsin regional carrier that has sold insurance only through independent agents since 1894. It writes mostly business insurance, plus personal auto and home. Its NAIC group was ranked No. 51 among U.S. business insurers by 2025 commercial lines direct premiums written, with $1.75 billion, based on NAIC market share data. That is about 0.36% of the national commercial market and roughly three-quarters of its $2.38 billion all-lines total. It is not among the 10 largest writers of any commercial line nationally. Its biggest commercial lines are other liability ($432.3 million), commercial auto ($357.7 million), workers' compensation ($291.4 million) and allied lines ($198.0 million).

The insurance companies are West Bend Insurance Company, the lead carrier, and two newer subsidiaries, West Bend Premier Insurance Company and West Bend Select Insurance Company. All three are based in West Bend, Wisconsin, and the group calls itself West Bend Insurance Group. Above them sit WBM Corporation and West Bend Mutual Holding Company, which its policyholder-members own. West Bend licenses business insurance in 14 states and writes surety bonds in all 50, through more than 1,500 independent agencies. It says it protects more than 220,000 families and businesses. Rob Jacques is president and CEO.

History

West Bend started after a fire destroyed a commercial block in West Bend, Wisconsin. Local business owners formed a mutual company: its constitution was adopted on April 13, 1894, and the first policy was sold two weeks later. As West Bend Mutual Insurance Company it grew into a multistate commercial and personal lines writer. It has held an AM Best rating of A (Excellent) or better since 1971, and Best's Review listed it in 2025 among insurers with at least 50 consecutive years at A or higher.

The recent changes are structural:

• 2023–2024: West Bend filed a plan with Wisconsin's Office of the Commissioner of Insurance on June 2, 2023 to reorganize under a mutual holding company. The mutual converted to a stock company, West Bend Insurance Company, owned through WBM Corporation by the new West Bend Mutual Holding Company. Policyholders' membership rights moved to the holding company. The commissioner approved the plan, and members voted on it, on December 8, 2023. A mutual holding company generally has more ways to raise capital or make acquisitions than a pure mutual, while policyholders keep control.
• 2024: On March 12, Rob Jacques, president since 2022 and a 24-year employee, succeeded Kevin Steiner as CEO. Steiner had led the company since 2009. West Bend then had more than 1,600 employees.
• 2025: An executive realignment took effect July 1. Marc Emery became chief underwriting officer over both the commercial and personal lines divisions, and the company created a chief strategy officer role. In August, AM Best assigned ratings to West Bend Premier and West Bend Select, which are reinsured by the lead company.

Business insurance products

West Bend writes standard commercial coverage, sold by agents as packages or monoline policies:

• commercial property and general liability;
• business auto;
• workers' compensation;
• commercial umbrella over auto, general liability and employer's liability;
• equipment breakdown, crime, and a cyber suite that responds to data breaches, system intrusions, data damage and cyber-related lawsuits;
• errors and omissions, employment practices liability, and D&O for nonprofit boards.

West Bend says its workers' compensation unit writes everything from small businesses to large organizations. It offers flexible payment and payroll reporting options and online account tools. Medical cost management includes a West Bend PPO network for injured workers.

Surety. West Bend writes bonds in all 50 states:

• performance and payment bonds for contractors;
• Rapid Bond, a credit-score-based program that gives agents instant online approval for bid, performance and payment bonds for contractors with infrequent needs;
• bonds through the SBA Surety Bond Guarantee Program for small and emerging contractors;
• license and permit, court and fiduciary, business service, ERISA, public official, notary and miscellaneous bonds.

See surety bonds explained: how they differ from insurance.

Loss control and audit. West Bend offers loss control services to help commercial policyholders cut accidents and injuries. Final premiums on payroll- or sales-rated policies are set by a premium audit, which West Bend has outside vendor partners, such as Davies, carry out; see premium audits: how they work and how to prepare. Expect a call or letter from the vendor, not from West Bend itself.

Who it insures

West Bend's own list of target businesses is broad:

• accountants, insurance agents, lawyers, consultants, architects and engineers;
• agribusiness, auto services, contractors and service trades, manufacturing, distributors and retail;
• childcare, chiropractors, dentists, doctors and veterinarians;
• educational programs, entertainment and recreation, health and fitness, special events and sports;
• nonprofits and social services, rental property owners, safety and security services, and technology companies.

That points to a carrier built for small and mid-sized accounts across many classes, not a single niche.

Geography is the limiting factor. Commercial and personal coverage is sold only in Arizona, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, North Carolina, Ohio, Tennessee, Virginia and Wisconsin. Wisconsin is its home state, where AM Best describes it as a market leader. A business with locations outside those states needs another carrier for them, although bonds are available everywhere.

How to buy

Only through an independent agent. West Bend does not quote or sell directly, and its site sends business owners to an agency locator that shows which coverages West Bend offers in their area. Underwriters work with the agent on the submission, so the quality of your agent's application, loss runs and payroll or sales figures drives the quote. Agents can get immediate online approval on Rapid Bond contract bonds. Once you're insured, the policyholder website and mobile app let you view policies, invoices and vehicle ID cards, pay bills and report claims.

Claims

Claims can be reported 24 hours a day in three ways:

• through the policyholder website or mobile app;
• through DirectConnect, the company's claim reporting service, at 877-922-5246 or [email protected] (include the policy number, date and description of the loss, and a callback number and time);
• through your agent.

West Bend reports 94% overall claims satisfaction on its site.

For workers' compensation, claims are matched to adjusters by expertise. The company says its comp claims specialists average 13 years of experience. The claims team includes in-house nurse case managers, a narcotic task force that tries to reduce opioid dependency, early return-to-work support and a special investigations unit. Policyholders get workers' comp claim kits with state notices and return-to-work forms when a policy is issued and at every renewal.

Financial strength and ratings

On August 13, 2025, AM Best affirmed West Bend Insurance Company's financial strength rating of A (Excellent) and issuer credit rating of "a+", and assigned the same ratings to West Bend Premier and West Bend Select, all with stable outlooks. AM Best judged West Bend's balance sheet strongest, citing risk-adjusted capital at the strongest level of its capital model, consistently favorable reserve development and a conservative investment portfolio. It rated operating performance adequate.

That last point is the caution. AM Best said West Bend had elevated weather losses and rising loss costs in 2022 and 2023. In June 2023 it moved the outlook back to stable from positive after catastrophe losses in West Bend's core states hurt 2022 results. The company responded with underwriting changes, rate increases and tighter claims and litigation management. AM Best said key operating metrics improved materially in 2024 and kept improving through the first half of 2025. West Bend's own ratings page still describes a 2019 affirmation, so check AM Best for the current rating.

No S&P, Moody's or Fitch ratings are published.

Strengths and weaknesses

West Bend is a well-capitalized regional that offers one agent-placed home for package, auto, comp and bonds. Its reach is limited to 14 states, and its recent profitability has been uneven.

• Strengths: Rated A or better by AM Best every year since 1971, with capital AM Best calls strongest. A broad small and mid-sized commercial appetite across many classes. Surety in all 50 states, with an instant-approval program for small contractors. Workers' comp claims backed by in-house nurse case management and return-to-work support.
• Weaknesses: Business coverage is limited to 14 states. Sales go only through independent agents, with no online quoting. Weather losses and rising loss costs weighed on 2022 and 2023 results and prompted rate increases. An A (Excellent) rating sits a notch below the A+ and A++ ratings some competitors carry.

How to contact West Bend Insurance