Help!!! With hard to place risk with 3 claims in 1 year.

May 15, 2018

  1. pins
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    pins New Member

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    I have this warehouse distributor risk that needs GL and Property coverage. They have had 3 theft claims on July, September, and November 2017 all between 50k-120k. Since then they have made several security upgrades. Any advice on which carriers would take this risk? I would really appreciate it.
     
    pins, May 15, 2018
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  2. adjusterjack
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    adjusterjack Guru

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    What carriers have you submitted it to and with what results?

    It would be nice to avoid having people name carriers only for you to say that you've already tried them with no luck.
     
  3. Markthebroker
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    Markthebroker Guru

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    Send it out to surplus lines. I would send it to several different surplus brokers, not just one or two.

    I have background writing pretty colorful stuff like this, let me know if you need more help.
     
  4. Championpatriot
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    Championpatriot Expert

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    Dang, what are these distributors selling....weed?! Three thefts in once year at that scale is crazy, good luck, like Markthebroker says you want to hit up as many surplus brokers as you can..Make it easy , fill out accords and have it ready that is if they are going to pay you for referring them...
     
  5. Markthebroker
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    Markthebroker Guru

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    It depends on their situation, and you need to be careful how you navigate this conversation because most insurance agent aren't qualified to advise on business organization. But it might be less expensive and less trouble for them to reorganize to a new entity, then they can buy insurance as a new entity.
     
  6. CommercialGal
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    CommercialGal New Member

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    This will most likely have to go to an E&S Market.
    I have had similar accounts to this... they will probably hit you with a higher deductible to play ball.
     
  7. EugeneM
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    EugeneM Guru

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    colorful :D
     
    EugeneM, May 16, 2018
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  8. pins
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    pins New Member

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    They sell electronic golf devices.
     
    pins, May 16, 2018
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  9. Todd Shaner
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    Todd Shaner New Member

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    I'd suggest contacting Prime Insurance Services. Primeis. They specialize in hard to place risks. They've helped us place some very challenging commercial accounts in the past.
     
  10. smbinsurance
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    smbinsurance New Member

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    Agree with @Todd Shaner . Prime doesn't offer the greatest coverage, and they are expensive, but we use that as our "market of last resort".
     
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