News From Beacon Hill – September 2014

Account Profile: Combining Policies for Several Senior Care/Nursing Home Facilities

By Jamie Lewis, Assistant Vice President

We often have accounts that are so similar in risk, size, and coverage that providing a larger combined policy seems ideal for all parties involved. We also know how difficult, and at some times, impossible it is to combine multiple insured’s into one group policy. We recently had a Site Pollution Liability account that presented the perfect opportunity to do this.

Throughout two or three years we have gradually written a series of Site Pollution policies for various Senior Care/Nursing Home Facilities with one agency. Each had multiple scheduled locations and named insureds, varying from just a few to up to twenty. Some were on multi-year forms, different effective dates, carriers, and varying coverages. When the larger policy came up for renewal, we began working on a strategy to have these locations combined. The renewal application already captured the majority of the locations and we were able to use applications from the prior policies for the additional locations we would be adding. We carefully reviewed all policies to make sure that the single combined quote included the correct addresses, named insured information, and retroactive dates. Since we were moving insureds into one shared policy, they would also be sharing limits. The limits on the combined option were increased so that the shared limit per location remained the same as in previous years. In other words, we wanted to make sure that sharing a limit wouldn’t result in a decrease in overall limits/coverage for each location. Get the complete account profile.


Transportation Pollution Liability: The Basics

Transportation Pollution Liability, or TPL, is “over the road” pollution insurance. It covers insureds who need protection for pollution conditions caused by transportation. This coverage can also include loading/unloading should the insured’s cargo create a pollution condition. Premiums start at $4,000. Limits are available from $500,000. Read more.


Tim Morgan Joins Beacon Hill as Senior Account Executive

Tim Morgan has been hired as a Senior Account Executive to develop Beacon Hill’s ‘Rocky Mountain’ region of the country. He will be managing new business brokerage opportunities and growing o agent base in this territory. Tim brings over ten years of experience marketing specialty insurance programs for both carriers and MGAs on a nationwide and regional basis.

“We are thrilled to have Tim join us to lead the Rocky Mountain regional brokerage office ,” said Bill Pritchard, President of Beacon Hill Associates, Inc. “Tim’s experience in marketing and developing specialty insurance programs will be a great asset as we continue to address the growing need for quality environmental coverage in his territory.” Read the complete press release.


Recent Success Stories

$1.45M Pipeline contractor purchased GL/CPL/E&O ($2M/$4M limits) and a $1M Excess. Total premium = $20,000.

$7.5M NY Masonry Contractor purchased CPL including Mold, TPL, and NODs ($2M/$2M limits). Premium = $7,805

$1.1M Tank contractor/fabricator purchased GL/CPL/E&O ($1M/$2M limits) and $10M Excess policy. Total premium = $101,660.

$634k Emergency response/hazmat cleanup company purchased GL/CPL/E&O. Premium = $5,659. Includes TPL, Mold, and coverage for a 28-foot boat.