News From Beacon Hill – January 2017

Happy New Year from Beacon Hill

The year is off to a busy start for us and we are excited to begin the quarter with great submissions, interest in our new Enhanced Fuel Solutions program, and the latest issue of our e-magazine, focusing on Sites.

Since we officially closed the books for 2016, we have had a lot of discussion about where our best opportunities have come from over the past year and where we need to position ourselves to serve our agents in 2017. Last year, our renewal retention was over 85% and we saw significant submission growth, with over 500 new business accounts bound. This is a testament to our hard-working, multi-faceted team. From our service department and renewals team, to our administrative assistants and production staff, we want to work together to bring our agents a truly exceptional experience.

As always, please let us know how we can help you. Feel free to send us your feedback, suggestions, and questions.

Product Highlights:

Inland Marine Coverage
Beacon Hill can now offer Inland Marine coverage! This can be defined as insurance for property in transit over land, certain types of moveable property, instrumentalities of transportation, and legal liability exposures of bailees.

Who buys it?

  • Contractors; both environmental and non-environmental contractors that use/transport equipment
  • Construction companies
  • Agriculture businesses
  • Landscaping businesses
  • Companies that have data processing as part of their operations

Learn more about Inland Marine coverage >>

Enhanced Fuel Solutions
Offered exclusively by Beacon Hill Associates, the Enhanced Fuel Solutions program is designed to meet the needs of businesses with unique premises specific exposures. Bringing together a broad suite of products, the program is designed to allow “one stop shopping” for many of the most challenging coverages for target risks.

The evolution of the term “fueling” is what inspired the creation of the Enhanced Fuel Solutions program. In addition to businesses with traditional storage tank systems, we are targeting alternative and renewable fuel storage, including electricity, biodiesel, hydrogen, ethanol, natural gas, propane, etc.

Who buys it?

  • Auto repair facilities
  • Gas stations
  • Agricultural risks with farm equipment
  • Convenience stores
  • Golf courses
  • Car dealerships
  • Charging stations
  • Alternative fuel locations
  • Any location with a tank

Learn more about Enhanced Fuel Solutions >>

Success Stories

  • $2.8M Garbage hauler purchased a $1M/$2M CPL policy, including TPL, for $4,375.
  • $6.675M Sprinkler contractor purchased a $1M/$1M CPL policy, including Mold, TPL, and NODS, or $6,725.
  • A fertilizer/agricultural chemical distributor purchased a 3-year EIL policy for $9,783.
  • $2.5M Contractor specializing in oil lease service work/IR detection purchased a CPL policy, including WOS and TOL, for $5,660.
  • $80M General contractor purchased a $1M/$1M CPL policy, including TPL, NODS, and Sudden & Accidental, for $18,400.
  • An excavation contractor purchased a CPL policy with $5M limits for $14,068.
  • $5.8M Tile contractor purchased a $1M/$1M CPL policy, including Mold, for $5,650.
  • A residential condominiums community purchased an EIL policy for $3,371.
  • $1.1M Non-environmental driller purchased a $1M/$2M CPL policy for $4,115.
  • A metal erection/concrete contractor purchased a CPL/E&O policy for $12,623.
  • $1.8M Business that services oil wells purchased a $5M Excess policy for $13,400.
  • An HVAC contractor purchased a CPL policy for $4,975.