18 Multifamily Dwellings

Oct 2, 2018

  1. smg44
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    smg44 New Member

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    I have a client here in Missouri who has 12 duplex, 2 condos and a few other homes, all that are relatively new. I have exhausted our carriers in trying to compete with Middle Oak. The truth is, the client said he would switch over to our agency if the premium was even close to what he is currently paying. It seems many carriers don't want to take the policy on because the risk is too concentrated. Is there a carrier that anyone would suggest for this?
     
    smg44, Oct 2, 2018
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  2. fed up
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    fed up Super Genius

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    You are looking at and for commercial carriers, right? This is not a standard personal policy situation. Most carriers take on landlord policies as a "favor" to their customers and you are well beyond that with what you have going on.
     
    fed up, Oct 3, 2018
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  3. smg44
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    smg44 New Member

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    Yes, I am looking at commercial carriers. We have several that will write a landlord policy this large, however none can approach the premium that Middle Oak has set up.
     
    smg44, Oct 3, 2018
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  4. INSUREGEEK
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    INSUREGEEK Super Genius

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    Are you appointed with Middle Oak? If so, I'd ask for the Broker of Record letter and take it over.

    You could try AmWINS, but I'd advise you to call them before putting a submission together. They have lots of markets for large habitational.

    Good Luck!!
     
  5. smg44
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    smg44 New Member

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    We are not appointed with Middle Oak, however it appears to be pretty easy to go through the Dauntless brokerage house to use them. I was advised by one of their sales mangers they are generally not too keen on doing a broker of record change. I will look into AmWINS, thank you for the tip!
     
    smg44, Oct 10, 2018
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  6. INSUREGEEK
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    INSUREGEEK Super Genius

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    I have a contact at the Chicago office of AmWINS if that is closest to you. I used to write several large apartment complexes in FL (of all places) with them.

    I advise you to call as they may have standard market carriers to compete. If you describe the risk and they tell you E&S, that's obviously a no-go.
     
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