One of our particular areas of expertise is the business we are able to write and process within the purview of our binding authorities. We have had strong, lasting relationships with our binding authority carriers for several years and we have enjoyed a very successful rapport because of our past results. Although we are currently in the process of negotiating new binding authority agreements, we currently have contracts with Underwriters at Lloyds of London, Western World Insurance Company, and Essex Insurance Company. We will immediately notify our agents of new contracts as they are finalized.
COMMERCIAL PROPERTY
Currently, we have binding authority agreements for Underwriters at Lloyds, Western World Insurance Company and Essex Insurance Company for commercial property. We are able to entertain all sorts of risks from small habitational exposures to very complex builders risk submissions involving renovations of old mills / factories to new commercial space. A quick summary follows:
- Limits up to $3,000,000
- Perils: Basic, Broad, Special, Other (i.e. Earthquake, Flood)
- Minimum Premium: $1000
- Minimum Deductible: $1000
- Classes of Business: All types of commercial risks including habitational exposures on the coast and elsewhere.
COMMERCIAL GENERAL LIABILITY
Currently, we have binding authority agreements with Western World Insurance Company, Lloyds and Essex Insurance Company for CGL. Like our commercial property contracts, our CGL contracts allow us to entertain a wide spectrum of risks from small hair salons to large and complicated special events. A quick summary follows:
- Limits up to 1MIL/2MIL
- Minimum Premium: $750 (different for Package Policies)
- Minimum Deductible: $0-$1,000 (subject to underwriting guidelines)
- Classes of Business: All types of commercial risks including habitational exposures, special events and various medical services
Commercial Package
We have a commercial package binding authority with Underwriters at Lloyds. Limits are up to 3 Million for property and 1 Milllion/2Million for Liability. Minimum premium: $1,000 for package.
Classes of business: Most types of commercial risks except those with higher hazard liability exposures.
We also have a commercial package authority with Western World Ins. Co. Their property limit is $500,000.
PERSONAL LINES
Over the past several years, our Homeowners Program written through Underwriters at Lloyds has become very popular with our agents and continues to grow at a quickening pace. We are able to entertain secondary homes, vacation homes, condominiums and residential rental property. Depending on the risk, fine arts, jewelry, collectibles, and other like items may be scheduled on our policies. We even have one client whose 5000 square foot home is situated on his own private island off the coast of Connecticut. A quick summary follows:
- *Limits up to $2,000,000 for Coverage A (other limits as per ISO percentages)
- Minimum Premium: $750
- Minimum Deductible: $1,000
- Separate Wind Deductibles apply to coastal risks
- Additional Coverage Available for:
- Water back-up
- Identity Fraud
- Limited Animal Liability
- Jewelry, Fine Arts, Furs & Silverware
- Earthquake
(*Limits up to $25MIL with prior submit to Underwriters at Lloyds)
INLAND MARINE
Limits up to $10,000 for jewelry, fine arts, collectibles and other items, etc. when scheduled on a policy in our Homeowners Program, but higher limits available for stand alone policies (This would be a Commercial Property policy written through Lloyds)
Claims
Lloyds property and liability claims are assigned to local adjusters and claim payments are made from our office upon receipt of the final report.
Western World and Essex claims are submitted directly to those carriers and local adjuster are assigned.
Please Contact us for an application and additional information.
