Services | Property/Casualty Insurance Placement Advice

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Property/Casualty Insurance Placement Advice

Conditions in the property/casualty insurance market have been generally kind to insurance buyers. Most of our clients have seen their insurance rates decline. Very few have had their insurance company shut down by regulators. Regardless, every once in a while buyers come to us for ideas or help with an insurance placement problem.

You may need our advice if you:

  • Have been told by your broker that they have no competing markets for your coverage this renewal.
  • Received a notice of cancellation or non-renewal.
  • Have been told that the A.M. Best Rating of your insurance company has been downgraded.
  • Wonder whether you are eligible to join a risk purchasing group.

Our Scope of Services Includes:

  • Reviewing the policy conditions and endorsements governing cancellation and non-renewal.
  • Examining and validating the underwriting information submitted by your broker.
  • Surveying the market for alternative sources of coverage —including Risk Purchasing Groups, self-insurance funds and state assigned risk plans.
  • Expediting the binding of coverage before expiration.

Benefits:

  • Avoidance of uninsured claims and fines or penalties for lapsed coverage.
  • Objective advice relative to the claims-paying ability of insurance companies having less than "excellent" A.M. Best Ratings.
  • Insurance proposals that may be more price-competitive.
  • Access to alternative market insurance programs that offer better coverage.
  • Placement in programs offering more stable future pricing with less chance of cancellation and non-renewal.

 

Analysis, Strategy and Advice = Solution

Problem » One of our clients received a notice of non-renewal from their workers compensation insurer because the company no longer wanted to insure construction operations.

Solution »We helped them make application to the assigned risk plan of one state and to the state workers compensation insurance fund in the other state to keep them in business.

Problem » Another client got a 35% price hike a few days before their insurance expired without 60-day prior notice as stipulated in an endorsement on their insurance policy.

Solution » We shamed the broker into securing a reduction in the rate increase to the maximum permissible.

We do not represent any insurance companies — nor do we accept commissions. We only represent the consumer. Why not Contact Us?