Manufacturer - Lab/Hospital Ventillation Systems

[insurance1822]

Commercial Guys - I have an in on this account which is a company who manufactures ventilation systems for hospitals, universities, labs etc. They've been w/ the same agent for 14 years who just retired. They are giving me a chance. Gross sales $2,000,000...6 employees...building....3 trucks. Questions below..

1.) The home office is located in Germany. The systems are assembled there & shipped to the USA location for distribution. This means the location in the USA I'm looking to insure is considered a "manufacturing" risk because they're essentially the de-facto manufacturer because the main company is located overseas...correct?

2.) My understanding is the property/auto/comp should be easy & the products completed will be the bear? How do these get pieced together? Is it typical/likely that I'll have to go E&S to place the products?

3.) Are all products completed policies the same? AKA I know that when insuring an LRO building the property forms are fairly straight forward...what about this line of business?

4.) If they're already E&S....is it worth quoting through my E&S wholesaler? Do people bother quoting E&S against existing E&S?

 

[Verbgravy]

My first contact would actually be Chubb. They love the manufacturing sector and it sounds like you're well above the minimum premium. If I was unable to write it with Chubb, I'd use Cochrane & Co and let them hash it out.

I'm not saying this is the best way to do it, just sharing what our initial steps would be.

Good luck!

 

[Arnage150]

Commercial Guys - I have an in on this account which is a company who manufactures ventilation systems for hospitals, universities, labs etc. They've been w/ the same agent for 14 years who just retired. They are giving me a chance. Gross sales $2,000,000...6 employees...building....3 trucks. Questions below..

1.) The home office is located in Germany. The systems are assembled there & shipped to the USA location for distribution. This means the location in the USA I'm looking to insure is considered a "manufacturing" risk because they're essentially the de-facto manufacturer because the main company is located overseas...correct?

2.) My understanding is the property/auto/comp should be easy & the products completed will be the bear? How do these get pieced together? Is it typical/likely that I'll have to go E&S to place the products?

3.) Are all products completed policies the same? AKA I know that when insuring an LRO building the property forms are fairly straight forward...what about this line of business?

4.) If they're already E&S....is it worth quoting through my E&S wholesaler? Do people bother quoting E&S against existing E&S?

I have a similar account insured with Maxum. I've shopped the **** out it many years (including w/ chubb) and no one could ever beat, or really wanted to quote it for that matter. Its really a products exposure risk. The other lines are easy.
If your account is not with E&S now I wouldnt even bother. But yes E&S companies definitely try to compete with each other. There is a rate per $1,000 in sales.
There are some items to consider with products liability policies. Are the occurence or claims made? World wide coverage? Ded? Blanket venders coverage?