Church Insurance Market Soft

Matt37

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I was just working on a church in Western PA and I cannot believe how thinly priced that market it.

All these mutual companies and other carriers beating themselves up for them.

I do not get it .. most of the property is older and not a great risk IMO.

I think you will see that market start to harden soon.. I just had a church. $18M TIV on the property, GL, Professional, and a $2M Umbrella ... $8600 total premium... that's insane IMO!
 
I was just working on a church in Western PA and I cannot believe how thinly priced that market it. All these mutual companies and other carriers beating themselves up for them. I do not get it .. most of the property is older and not a great risk IMO. I think you will see that market start to harden soon.. I just had a church. $18M TIV on the property, GL, Professional, and a $2M Umbrella ... $8600 total premium... that's insane IMO!

Erie is really competitive on these in PA if the Church is owner occupied (haven't seen too many cases where they are not).

Who have you been placing them with?
 
Erie is really competitive on these in PA if the Church is owner occupied (haven't seen too many cases where they are not).

Who have you been placing them with?

Guide One, Brethren Mutual, State Farm, Nationwide, Phly, Cincinnati, Zurich, Harleysville .... take your pick.. :D
 
A lot of the smaller churches we insure produce less premium than a standard household.
 
there is cheap church insurance and good church insurance!
But there is definitely a softening of pricing on churches lately.

This thread is interesting, in my last conversation with my Phly rep said they were raising their rates because they were getting beat up with claims.
Less religious people means less revenue for facility maintenance, which means more property claims. Also the average age for most church followers is increasing, which leads to more trip and fall claims.
 
This thread is interesting, in my last conversation with my Phly rep said they were raising their rates because they were getting beat up with claims.
Less religious people means less revenue for facility maintenance, which means more property claims. Also the average age for most church followers is increasing, which leads to more trip and fall claims.

Interestingly enough .. my PHLY rep brought up the same thing.

I think PHLY is historically a very conservative carrier compared to the other ones .. certainly more so than some carriers where all they write is churches (church mutual, brethren)

Think PHLY is just increasing ahead of everyone else to prepare for what is coming... but because of the reasons you stated above I think they all will be increasing very soon.
 
I was just working on a church in Western PA and I cannot believe how thinly priced that market it.

All these mutual companies and other carriers beating themselves up for them.

I do not get it .. most of the property is older and not a great risk IMO.

I think you will see that market start to harden soon.. I just had a church. $18M TIV on the property, GL, Professional, and a $2M Umbrella ... $8600 total premium... that's insane IMO!

If churches have G-d, then why do they need insurance?
 
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