Homeowners with Excess Loss History

Discussion in 'P&C Insurance Forum' started by TwoLabs, Aug 21, 2017.

  1. TwoLabs
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    TwoLabs Super Genius

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    I'm in Texas and looking for a market for a homeowner's policy for someone who was non-renewed by a prior carrier. He didn't have any losses on the actual house itself, but on the farm and ranch (total loss to a secondary dwelling, total loss to a large equipment storage facility that was a cat loss, and a fire loss to a piece of farm equipment). About $500k in losses in 2016 over three claims.

    I sent it to Myron Steves and they turned me down.

    Any ideas?
     
  2. Rick Deckard
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    Rick Deckard Super Genius

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    Find a new lead...in all seriousness put yourself in any carrier's shoes and would you put your money behind this guy?

    I hate this side of insurance but you file a claim, a rather large one in this case, there's a good reason why he is dropped and why people are going "Thanks but no thanks"

    Find a new lead
     
  3. adjusterjack
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    adjusterjack Guru

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    Contact excess and surplus lines brokers who have access to carriers that will write insurance on high risk insureds.

    Inculcate your prospect that he will pay dearly for the coverage.
     
  4. insurance1822
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    insurance1822 Guru

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    tell him you have no options - not worth chasing stuff like this. send him to the state fund.
     
  5. stevegonzales
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    stevegonzales New Member

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    500K in a year :nah: If he files more claim, won't it affect your lost ratio?
     
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