Help W/ a Zurich/Universal Underwriters Policy

Aug 28, 2015

  1. myfakename
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    myfakename Super Genius

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    Working on a motorcycle dealer that is with Universal UW.

    The insured is claiming UU is covering flood on his building & contents.


    I have a copy of the Dec pages, but not the forms or complete policy.
    I dont see any mention of flood coverage on the dec (EQ is excluded), and cant imagine flood being covered without being very specifically spelled out.

    Any help?
     
  2. Matt37
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    Matt37 Super Genius

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    I use to work for Universal for 5 years.

    Yes .. you can endorse for flood on their policies... also their big selling point is their umbrella have no aggregate (except on products/comp. ops)

    HOWEVER .. look at their deductibles .. they usually like to offer high deductible policies to control cost and exposure.

    as a Universal rep you quote your own accounts from home and then just submit to Zurich for approval .. so you can structure on your own.

    I use to put $2500-$3000 comp/coll deductibles on my tow accounts and it allowed me to beat carriers putting $1k ones.

    Who are you quoting with? Universal can be beat but it is a VERY good policy.
     
    Matt37, Aug 31, 2015
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  3. myfakename
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    myfakename Super Genius

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    Auto-Owners.

    Ive got Zurich beat by 2k or 4k (depending on pay in full) and watercraft liability, but no flood coverage. IMHO flood should be an issue he is 19" about grade in a 500y zone.

    Just wait and see now.
     
  4. Matt37
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    Matt37 Super Genius

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    Ahh.. that's a bad Universal salesmen.

    I use to smoke AO in coverage ... he needs to put out to the insured that Universal has no aggs on their excess.

    I am just messing .. hope you get the bind order!
     
    Matt37, Sep 1, 2015
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  5. myfakename
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    myfakename Super Genius

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    Didnt write this account last year, but did this year.
     
  6. insurance1822
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    insurance1822 Guru

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    what's the premium on this?
     
  7. hesse
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    hesse Guru

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    How does AO broad form products and completed ops compare to Zurich?

    AO has a pretty good garage policy
     
    hesse, Sep 1, 2016
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  8. myfakename
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    myfakename Super Genius

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    On average they range from 20ish to 50ish.
    There are several factors (like anything) that determine premium. ADPD and employee count being the biggest factors.

    ----------

    They do it tracking GL limit with a 250 or 500 deductible.
     
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