Need Help on a Huge Prospect!

[Jerbond]

I am looking to partner up with a broker or an agency that can assist with an 11,000 employee account. It's 8 hospital/med centers in California. They have
Work Comp
Managed Care
Loss Control
Property & Casualty ( I presume GL, commercial auto and umbrella)

This type of client is beyond my market ability. Looking for a veteran to assist.

 

[JCK818]

I just fainted

 

[Air Jer]

If you find someone to partner with, make sure they have a market or two for hospitals. It has become a specialty line and there are not a lot of markets. Additionally, professional liability for doctors is going to be very tricky.

 

[djs]

Good luck with this!
You are going to need a P&C agency that has been down the hospital route before, meaning it is a limited number of people.

Dan

 

[Bertolinoins]

There are only a handful of carriers that are true players for this type of risk. What is your relationship with the decision maker/makers? These types of accounts typically send out a RFP and select a broker prior to marketing the renewal because there are so few options. I had one for several years before losing it to a large national brokerage who essentially did it for free and flew the controller and risk manager to London so he could "negotiate" their PL renewal... but I think the only thing he negotiated was the London strip club scene.

Don't put much work into this unless you really have an in. If you do... you can send me a PM and I can point you in the right direction.

 

[Jerbond]

Thanks for all the feedback, and assistance. I spoke to the head honcho. A 1.5 million premium, not to shabby. But they of course have a long standing relationship with a couple of agents. Will either have to wait for those guys to retire, or creep in on something else. Thanks again for the help guys- You really come through on this board!!!

 

[djs]

From what you described, I can assure you they were paying a lot more than $1.5M in total premium......

 

[b61mack]

if you have a few months to quote it... shop it around. once a quote is given, lets say by chubbs... they chubbs won't let another agent quote over you...the big boys jump in their and quote all the insurance companies.. blocking everyone else out...that is their game plan