Significant changes are continuing to occur in the environmental insurance space that are creating both confusion and opportunity. They include:
- One of the largest environmental carriers in the country has announced they are exiting another product line. Where they once wrote a significant portion of the industry’s Premises Pollution Liability, combined Contractors Pollution Liability/Professional, and Package General Liability/Contractors Pollution/Professional, they are continuing their move away from all of these lines. This will have an immediate impact on upcoming new opportunities as well as renewals.
- The merger of two major markets has created an access issue, impacting thousands of accounts. In some cases risks are being underwritten by different offices, creating questions in the renewal process. Many agents have new underwriters with different appetites due to the realignment.
- Carrier rating changes in certain MGA programs may cause insureds to seek alternatives, either mid-term or at renewal.
All of these changes can create instability and confusion for insureds. The solution is to stay in front of the process, and work to bring stability to your clients’ programs. For over 25 years, Beacon Hill Associates has been a leader in the environmental insurance marketplace. We have long-standing partnerships with more than 20 “A” rated markets who write Premises Pollution, Contractors Professional, General Liability/Pollution/Professional package policies, and many other lines. Our markets have been consistent in their appreciation of the value of this class of business. We would like to be your partner in providing a stable source for your clients’ coverage.
As you consider the need for a new home for your current and future accounts, we ask you to call us to discuss what we can do to help. Our team has many years of experience with complex environmental coverages, and we can help you make the transition to a carrier who wants your clients’ business.
Please feel free to email us or call (800) 596-2156.