You asked, we listened! Here are some frequently asked questions from our most recent webinar.
Will you be getting into cyber or liquor liability?
Liquor – Yes. We are preparing to roll out a liquor liability product to support our GL offering for the hospitality segment. Cyber, no. We offer first-party privacy breach coverage on all policies, but not a true cyber policy.
Does the contractors program extend to NY?
No, we do not write currently write contractors in the 5 boroughs.
Hotel or motels acceptable?
Yes – we will consider franchised or non-franchised as well interior or exterior-entry type hotels/motels.
Can you write developers/real estate development?
Yes.
Can you write executive/paper contractors?
Yes – we will write paper GC’s with 100% of operations subbed-out.
How have you come competing against auto owners?
We want to see accounts in or headed to the E&S market – we are not designed to compete with the admitted market.
How about a boring company, such as buried conduit?
Yes, we can consider the GL and IM.
Will you write grocery distributors/wholesalers with tobacco exposure?
Yes, we can consider with tobacco health hazard exclusion.
Is there a min on lessor’s risk?
Minimum premiums are $500 ($350 for special events).
Can you write apartment buildings?
Yes – we will consider conventional, student, senior and subsidized (section 8 and Section 42 – LIHTC) housing.
Can you write truckers insurance for small fleets?
Yes, for the GL – we are not a market for auto (excess considered over GL only).
What do you consider coastal?
Within 2 – 5 Miles of the coast, depending on the specific location of the risk (Gulf of Mexico & Atlantic Ocean exposures).
Do you write student housing?
Yes.
Will you write contractors in upstate NY?
Yes – quote will include an action-over exclusion.
Can you write property in hail prone areas and wild fire areas?
We can consider, depending on location and assuming we can get the right price/terms.
Are there specific supplemental applications?
We would like to see any supplementals already completed, but our philosophy is to get the questions answered that we need to underwrite the account. If we can avoid requiring supplementals we do. We will take a competitor’s app straight through binding assuming it asks the proper questions – we do not require our app to be completed.
Do you charge fees?
Direct bill has a $15 per installment charge.
Policy Fees based on net premium:
$1 – $1,500 = $75 fee
$1,500 – $2,500 = $125 fee
$2,500 – $5,000 = $250 fee
$5,001 or more = $400 fee
Can you talk about the renewal process? What sets you apart from other GA’s?
We are not a GA, we are the insurance carrier. We have fast track automatic renewals for most accounts $25,000 in premium and under.
Do you offer professional liability coverage?
Typically, we are not a market for professional liability, but we do offer on some classes of business such as security guards, alarm installation, fire suppression, firearms manufacturers, firearm instruction and gunsmithing.
Do you have age requirements on buildings?
We are an E&S market and each risk is different, but no, we do not have any set limitations for age of buildings.
Do you offer commercial umbrella?
Our product is follow-form excess. We offer both supported and unsupported/mono-line excess liability with limits up to $5M.
How does the billing work, direct?
We offer direct bill payment options – 10 pay, 4 pay, 2 pay and full pay.
What are general turnaround times on quotes?
Small Business should be turned around within 24 hours. Larger accounts we will work with you and your requested timeframe.
Do you write home health care class?
We are probably not the best fit for this class of business. We could look at GL only if they have professional liability policy in place.
Do you write firearms dealers?
Yes, we will write firearms dealers as well as firearm and related products manufacturers.
Will there be an agency fee/wholesale fee charged? And if so, how much will that typically be?
We do not add a fee other than for payment plans.
When are loss runs required?
If prior insurance we would like to see loss runs at binding.
Because this is E&S, do we have to secure our own financing or do you have a preferred vendor for insurance financing?
No need to finance anymore! We are a direct bill E&S insurance carrier.
Will you write a Cannabis exposure?
We will consider Cannabis LRO exposures only.
Will you write special events, like haunted houses?
Yes.
What about garage auto repair and towing shops?
We can write GKLL, but do not have an on-hook coverage form available.
Will you write homeowner associations?
Yes.
Will you write condo associations?
Yes.
Do you like start-ups or do they need to be established businesses?
Yes.
Can your company setup auto pay? Possibly through a checking account or credit card?
Autopay is not a problem. Insureds may pay directly with their checking account information.
Do you have an appetite for foam insulation contractors?
Yes.
Do you do general contractors that are doing mostly roofing and 85% sub contract work?
Yes.
Do you write vape shops?
Yes, including a tobacco health hazard exclusion.
Do you write Hookah?
Yes, including a tobacco health hazard exclusion.
Can we use outside finance?
If we have 100% payment on any risk, yes, you may use outside financing. The agency will be set-up as the payor on the account.