Looking for Placement for BPP...

[insrox]

Have a client that just needs to up their business personal property. Do you have suggestions on a mono policy that will cover 237k in business personal property? They are a high performance auto shop by the way.

Thanks

 

[nyc2phi]

why not earn the business by proposing a BOP with more BPP on it? That or you could get a BOR and just up the coverage.

 

[Tucker444]

Yea I dont understand the need to ask?? If he wants higher BPP then simply endorse the current policy.

And I would hope he has a BOP already.

 

[iiinycboi]

maybe he wants a monoline inland marine for his stuff?

i see it can be a way in, but i would do as the other 2 said, offer a new policy with upped bpp or bor and up it.

i always use "i cant find out the price and up your bpp if im not your broker, sign this and make me it so i can solve your problem!"

 

[insrox]

I wanted to rewrite the BOP (garagekeepers) policy but am declined all over the place due to the risk involved. I have tried everyone from standard to colony. They current have Traveler's. I don't believe the previous agent disclosed the true nature of the business or the risk involved. The owner wants to leave the policy they have alone knowing the chances of claims being denied in the future anyway. However the personal property on their Travelers policy is only 1500. We need it to be 237k. If we take this to Travelers (not sure if they even if go that high on PP) the owner is afraid it will raise flags and they will cancel their policy. This has been a nightmare! I've never had something denied from so many carriers....

 

[iiinycboi]

I wanted to rewrite the BOP (garagekeepers) policy but am declined all over the place due to the risk involved. I have tried everyone from standard to colony. They current have Traveler's. I don't believe the previous agent disclosed the true nature of the business or the risk involved. The owner wants to leave the policy they have alone knowing the chances of claims being denied in the future anyway. However the personal property on their Travelers policy is only 1500. We need it to be 237k. If we take this to Travelers (not sure if they even if go that high on PP) the owner is afraid it will raise flags and they will cancel their policy. This has been a nightmare! I've never had something denied from so many carriers....

i did some joint work for GKLL and it was always surplus lines. have you tried to goto non admitted markets? Try some online guys like tapco or auw

 

[Tucker444]

However the personal property on their Travelers policy is only 1500. We need it to be 237k.

His BPP limit is $1,500? and it needs to be $237,000?

 

[Scottyj]

If its a high performance shop no standards will touch it. One word MGA... there are plenty of surplus carriers that will write that risk competitively. As far as the Inland marine coverage I do not doubt the need for $240k.... he probably has a dyno... a tuning computer for ECU testing and remapping.... tons of tools to boot
Pretty typical of this type of garage operation. good luck

 

[iiinycboi]

if he bolts everything down, he can use his coverage a?

 

[kuri3460]

No offense, but I think you're letting the tail wag the dog here. If he doesn't want liability coverage at all, and is worried that having the carrier take a closer look at his policy will cause problems, walk away before he has a claim that isn't covered.