Insured Spotlight: Real Estate Portfolios
Commercial real estate is a billion dollar industry, turning open land or old structures into apartment buildings, strip malls, and other profitable centers. Typically there are many people involved in the development of these locations, as well as the companies that own and/or manage them after they are built. Carrying Premises Pollution Liability insurance is a crucial part of responsibly operating a business like this, and can protect the insured in the event of an environmental exposure. This coverage could address issues including…Read more.
It’s a Renewal – Why Do I Need to Send You All This Information?
By Jamie Lewis, Assistant Vice President
The hours of work you put into writing that big account is almost a year behind you now. Even though it’s been 9 months, you vividly remember the weeks of collecting information from your client, following-up for additional requests, reviewing applications and loss runs, explaining why the company is requiring so many details, and finalizing your own file. There are 90 days left on this policy and you’re anticipating a smooth and painless renewal. Then you get an email from Beacon Hill that includes a blank application, a separate supplemental app, and bullet point list of four additional items. When opening the application, you see another list of details that must be sent with the application. You may be wondering why you actually have to go through this process all over again for a renewal. Read the full article.
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New from Our Underwriting Division: PartnerOne Energy Select
Coverage designed for environmental energy contractors who provide a wide range of services, support, construction, and related drilling work for the oil & gas industry. Learn more.
- $3M Contaminated soil contractor/hauler purchased GL/CPL/TPL and Auto liability for $110,000.
- $10M Window glazing and installation contractor had a job requiring Mold coverage. They purchased a CPL policy including Mold for all operations, including Completed Ops, for $12,000.
- $5M Energy contractor surveying risk purchased a standalone $4M Excess (over $5M) for $12,000.
- $225M General contractor purchased Contractors Professional with Mitigation coverage and Pollution for their contracting operations & leased premises. $2M/$2M limits for $82,000.
- Scrap metal dealer and recycler purchased GL ($1M/$2M), a 5-year Premises Pollution policy ($25M/$25M), and a $25M Excess policy for a total premium of $614,844.
- $5M Sanitation company (waste hauling, recycling, port a-potties, and septic tanks) purchased GL, CPL, E&O, and 3rd Party Premises Pollution Coverage for $43,007.
- $7.5M Pipeline inspection company purchased GL/CPL/E&O and a $5M Excess policy for $73,000. This insured experienced a substantial growth from previous year and we were able to keep the rate down and offer a quote that was far more competitive than any other market.
- $500k Soil remediation/tank removal contractor purchased GL/CPL (including TPL) and a $5M Excess policy for a total of $18,125.