Church Insurance.........

[shawnmwalker]

It is a shrinking, Consolidating Market.

I would think most don't use the guy in the church because there are only three big Church insures out there. Local guy sitting in the congregation does not have access to the product.

Guideone guy above- your world as a Guideone agent is changing dramatically right now correct?

 

[hesse]

just the roof exposure for the 3-7 k premium isn't worth it IMO

Get a wind or hail loss church mutual or somebody else comes in and low balls the price because they have a new roof. even at 7k you will never get your money back on a 100k roof

 

[LostDollar]

just the roof exposure for the 3-7 k premium isn't worth it IMO

Get a wind or hail loss church mutual or somebody else comes in and low balls the price because they have a new roof. even at 7k you will never get your money back on a 100k roof

Not an agent. Was a member of a very small church board many years back-been too long to remembeer well, but Church Mutual vaguely rings a bell.

However it sounded like op was asking about some very specific coverage. Does Church Mutual do that too, or do you have to purchase ethics and bonding types of coverage separately from the building coverage.

 

[1manshow]

Guideone just reduced rates in my market by 20+% shawn and gave me authority on IRPM, so I guess things are changing in a good way.

More than three key players in my market. And CM is weak on service and big on undervaluing property so they give me a wedge on my way in the door. Tough market to cold call and get in the door, but loyal once the deal is done.

And why would I care about the roof exposure? It's not coming out of my reserves. My book of church biz is approx 10% LR for past 5 years so I don't think anyone is losing their shirt over roof claims here.

 

[LostDollar]

Guideone just reduced rates in my market by 20+% shawn and gave me authority on IRPM, so I guess things are changing in a good way.

More than three key players in my market. And CM is weak on service and big on undervaluing property so they give me a wedge on my way in the door. Tough market to cold call and get in the door, but loyal once the deal is done.

And why would I care about the roof exposure? It's not coming out of my reserves. My book of church biz is approx 10% LR for past 5 years so I don't think anyone is losing their shirt over roof claims here.

I can certainly identify with that. A church is in an entirely different "business" if you will. And in a small group of people some of these kinds of things are beyond any experience they have. To have a supportive "expert" to help and to explain things is quite important to them. I think that, combined with some of the "business" characteristics of a church, leads to the loyalty you talk about.

 

[Matt37]

Guideone just reduced rates in my market by 20+% shawn and gave me authority on IRPM, so I guess things are changing in a good way.

More than three key players in my market. And CM is weak on service and big on undervaluing property so they give me a wedge on my way in the door. Tough market to cold call and get in the door, but loyal once the deal is done.

And why would I care about the roof exposure? It's not coming out of my reserves. My book of church biz is approx 10% LR for past 5 years so I don't think anyone is losing their shirt over roof claims here.

20% rate credit 60 days after being downgraded...

Ratings Outlook for GuideOne Insurance Revised to Negative: A.M. Best

cue the circus music...

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just the roof exposure for the 3-7 k premium isn't worth it IMO

Get a wind or hail loss church mutual or somebody else comes in and low balls the price because they have a new roof. even at 7k you will never get your money back on a 100k roof

correct.. if you are going to write old property that the owners cannot afford to fix at least write a class you can get some premium out of.

Not to mention.. there are a bazillion carriers writing them.. Cincinnati, Zurich, PHLY, Guide One, Church Mutual, Selective, Brethren Mutual....

 

[1manshow]

Ouch....downgraded...didn't know that

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Maybe if I listen to this "get more premium for the exposure" talk I can finally bump our million a year in new biz to the numbers these superstars are hitting. Yes, that's sarcasm or maybe I'll just have that underwriter mentality

 

[jlanier]

still don't understand why carriers are still diving into the church market.

they are all low on funding so they just look for the lowest price, old buildings with electrical/plumbing issues with no money to fix, and are already priced very thin, and hundreds of them closing due to low membership everyday.

seems like a terrible class to me.

I disagree with this at least in my region. I started insuring churches in 2012 and now insure over 100 churches. I've had a few small claims but not regularly. I also insure several other niches and church are by far the most profitable to this point.

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Anyone know of a carrier who is BOP'ing churches and offering sexual misconduct? Currently writing with Guideone and need other options occasionally

I use GuideOne, Celina, Erie (sexual misconduct reimbursement endorsement available only) and we are looking at adding Southern Mutual Church Insurance Company. It really just depends on the state and regionals that are pursuing it.

 

[Matt37]

I disagree with this at least in my region. I started insuring churches in 2012 and now insure over 100 churches. I've had a few small claims but not regularly. I also insure several other niches and church are by far the most profitable to this point.

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I use GuideOne, Celina, Erie (sexual misconduct reimbursement endorsement available only) and we are looking at adding Southern Mutual Church Insurance Company. It really just depends on the state and regionals that are pursuing it.

Well that is a kudos to you .. you have selected good risks and developed a good book.

as a whole when you develop experience nationwide .. its not a good class.

 

[LostDollar]

I disagree with this at least in my region. I started insuring churches in 2012 and now insure over 100 churches. I've had a few small claims but not regularly. I also insure several other niches and church are by far the most profitable to this point.

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I use GuideOne, Celina, Erie (sexual misconduct reimbursement endorsement available only) and we are looking at adding Southern Mutual Church Insurance Company. It really just depends on the state and regionals that are pursuing it.

As a former small church board member, I would just say, Thank you for helping those people. I would expect that among your clients you have some for whom this is a stressful area with which they don't know how cope, and they appreciate your efforts on their behalf.