- 5,290
I disagree with you. I do have to admit, though, you do have a valid position.
Unfortunately, due to past results, much of west coast property will become "extreme risk" based on past fires and underwriting.
Advice on covering $5Mil+ homes in California brushfire areas
- Thread starter Sammy Martinez
- Start date
I disagree with you. I do have to admit, though, you do have a valid position.
Unfortunately, due to past results, much of west coast property will become "extreme risk" based on past fires and underwriting.
- 882
Thanks for the mention Sam.
FYI: Many on this forum may remember me as the co-founder of Hometown Quotes, an internet lead company, and since 2015, the co-founder of Kelly Klee Private Insurance, where our niche is only Personal Lines, HNW [Chubb, AIG PC, NWide PC, Cincinnati, Berkley One, Vault & Pure are my primary carriers.] No commercial, life, health, or standard market personal lines. And we write in all 50 states. CA, CO & TX being our largest markets. All business but for referrals, generated by Internet Leads. And we have a very large agency with currently 19 employees and growing.
++++
CA is a unique state at this time due to Wildfires. If you are a PRMA member you have access to a paper I did with two other agents on the issues with CA insurance at this time.
Basically, Wildfires are harder to predict than Hurricanes in FL.
++++
CA Fair plan is not a good policy unless as someone pointed out above, one writes a DIC policy along with it. Remember, the $3m limit is TIV, not CovA. So that includes CovA, B and C. That is not much and it is only for 6 perils!
++++
Today for E&S we use Lexington, Pure Programs and CinFin's E&S. Only Lexington is available via an MGA if one doesn't have a direct appt. The other 2 can only be written by appointed agencies.
++++
Other programs that have Capacity today that we use [Capacity is the issue] are AZGuard and Scottsdale who are both available via Burns & Wilcox. Market Scout is supposed to have a CA Wildfire program via their Lloyds Coverhound but I have no experience with them. Lloyds programs are also available via other MGA's as well. Remember: 3 MGA's may have access to the same Lloyds program but only One has capacity.
Also, remember that the more Loyal you are to one MGA by giving them your business the more loyal they are to you. ie: Give you some of their capacity when you need a deal.
This market is in constant flux with everyone chasing the 1 carrier that can write their risk so things change fast as capacity changes.
+++
Admitted markets in the HNW space is almost all gone until the CA Ins Commish allows more rate and a Wildfire Deductible. Most of our carriers have Negative Growth goals for CA. Know that any E&S quote you get will require a Wildfire Ded, just like EQ & Wind separate deductibles on policies.
E&S carriers can also do different CovA limits for AOP and Wildfire. We have a client with a $50M CovA and only $15m for Wildfire with a $1m ded. He's willing to self-insure the difference and take the extra risk on the wildfire as he has done many upgrades to his home to hopefully, be the one house standing if a wildfire occurs.
+++
Lastly, if you've read this far. As Sam mentioned, we have a wholesale HNW operation with Chubb, AIG PC & we are the approved Wholesaler Smart Choice Agents.
What makes us different? We help you close the deal with knowledge, not just a quote. We also have our own App that is deploying soon for our wholesale agencies. If you want to see how the app works, go to YouTube and look up Kelly Klee.
If you'd like to talk about working with us, please email me at [email protected] and one of my team will respond. If you'd prefer to talk to me, just ask so in your email.
Happy to do my best to share what I know and help as I can.
+++
Thanks again Sam for calling me out. I apologize for not being very active these past several years as I've totally focused on Kelly Klee vs the lead business. Happy to discuss processes, carriers or whatever folks. I've learned from many on this forum as well.
Blessings all!
FYI: Many on this forum may remember me as the co-founder of Hometown Quotes, an internet lead company, and since 2015, the co-founder of Kelly Klee Private Insurance, where our niche is only Personal Lines, HNW [Chubb, AIG PC, NWide PC, Cincinnati, Berkley One, Vault & Pure are my primary carriers.] No commercial, life, health, or standard market personal lines. And we write in all 50 states. CA, CO & TX being our largest markets. All business but for referrals, generated by Internet Leads. And we have a very large agency with currently 19 employees and growing.
++++
CA is a unique state at this time due to Wildfires. If you are a PRMA member you have access to a paper I did with two other agents on the issues with CA insurance at this time.
Basically, Wildfires are harder to predict than Hurricanes in FL.
++++
CA Fair plan is not a good policy unless as someone pointed out above, one writes a DIC policy along with it. Remember, the $3m limit is TIV, not CovA. So that includes CovA, B and C. That is not much and it is only for 6 perils!
++++
Today for E&S we use Lexington, Pure Programs and CinFin's E&S. Only Lexington is available via an MGA if one doesn't have a direct appt. The other 2 can only be written by appointed agencies.
++++
Other programs that have Capacity today that we use [Capacity is the issue] are AZGuard and Scottsdale who are both available via Burns & Wilcox. Market Scout is supposed to have a CA Wildfire program via their Lloyds Coverhound but I have no experience with them. Lloyds programs are also available via other MGA's as well. Remember: 3 MGA's may have access to the same Lloyds program but only One has capacity.
Also, remember that the more Loyal you are to one MGA by giving them your business the more loyal they are to you. ie: Give you some of their capacity when you need a deal.
This market is in constant flux with everyone chasing the 1 carrier that can write their risk so things change fast as capacity changes.
+++
Admitted markets in the HNW space is almost all gone until the CA Ins Commish allows more rate and a Wildfire Deductible. Most of our carriers have Negative Growth goals for CA. Know that any E&S quote you get will require a Wildfire Ded, just like EQ & Wind separate deductibles on policies.
E&S carriers can also do different CovA limits for AOP and Wildfire. We have a client with a $50M CovA and only $15m for Wildfire with a $1m ded. He's willing to self-insure the difference and take the extra risk on the wildfire as he has done many upgrades to his home to hopefully, be the one house standing if a wildfire occurs.
+++
Lastly, if you've read this far. As Sam mentioned, we have a wholesale HNW operation with Chubb, AIG PC & we are the approved Wholesaler Smart Choice Agents.
What makes us different? We help you close the deal with knowledge, not just a quote. We also have our own App that is deploying soon for our wholesale agencies. If you want to see how the app works, go to YouTube and look up Kelly Klee.
If you'd like to talk about working with us, please email me at [email protected] and one of my team will respond. If you'd prefer to talk to me, just ask so in your email.
Happy to do my best to share what I know and help as I can.
+++
Thanks again Sam for calling me out. I apologize for not being very active these past several years as I've totally focused on Kelly Klee vs the lead business. Happy to discuss processes, carriers or whatever folks. I've learned from many on this forum as well.
Blessings all!
- 2,204
That is a good write up Bob Klee.
Admitted is certainly gone for now, I do agree.
Admitted is certainly gone for now, I do agree.
- Thread starter
- #14
Sammy Martinez
New Member
- 5
Thank you all so much for your help and input, that has me pointed in the right direction!!
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