New Game: How Much is this Business Paying for Their Insurance?

Discussion in 'P&C Insurance Forum' started by Rick Deckard, Jul 17, 2017.

  1. Matt37
    Offline

    Matt37 Well-Known Member

    Posts:
    188
    Likes Received:
    0
    State:
    Florida
    1) Green XYZ is going to be underpriced in some market probably written on a BOP, unless they are doing some kind of specialized servicing with regards to energy saving or something ..... walk away.

    2) Joe the Plumber - probably gets calls from insurance agents 3 times a week and has about a million markets that will write him, probably under priced and will be hard to beat ..... walk away.

    3) ABC Hurricane Impact Glass - now we are talking, is ABC manufacturing and installing the glass or just installation? they have a pretty juicy products exposure.. so a lot of carriers will shy away, they are doing some specialized work which a lot of brokers will be to dumb to know what coverage they need ... this one is worth more research.

    when I entered this industry my dad gave me the advice of never targeting the "CTR" (Contracting, Trucking and Restaurant) .. he said you will constantly be rebuilding your book... so I hunted for a niche and something that I and only I would be the go to broker.

    well.. by accident and I don't have time to tell the story.. I ended up getting a program with a carrier to write Accident and health policies for 1099 exotic dancers who were not picked up under WC .... lots of high heel ankle rolls..
     
  2. Rick Deckard
    Offline

    Rick Deckard Well-Known Member

    Posts:
    232
    Likes Received:
    0
    Gracias Matt, great info much appreciated.
     
  3. shawnmwalker
    Offline

    shawnmwalker Well-Known Member

    Posts:
    801
    Likes Received:
    0
    State:
     
    No Matt,


    No......We now need to hear the story! as A forum Guru (hahaha) I insist!
     
  4. Matt37
    Offline

    Matt37 Well-Known Member

    Posts:
    188
    Likes Received:
    0
    State:
    Florida
    Ha-ha .. I actually had a female "friend" who had an injury at work .. and she got shafted with a $6,500 bill...

    I went home and crunched the numbers and realized this was a serious issue.. and I was in South Florida at the time, the prospecting territory was fantastic, I mean it was only about $800 per policy, but you would write 20-25 a day once I got going.

    Now.. talking a carrier into entertaining it.. that was another story.

    They actually loved the idea and the exposure, but did not love becoming know as the "go to carrier for strippers accident and medical"

    Unfortunately, what did it under was some very large bogus claims submitted by dancers.

    But to this day ... there is no program out there that I know of for them.

    point of the story was: think outside the box, target something, and pound it to the pavement!
     
  5. shawnmwalker
    Offline

    shawnmwalker Well-Known Member

    Posts:
    801
    Likes Received:
    0
    State:
     
    I am not going to comment form here on out. but will wait for Ins 1865 to jump in.....HAHAHAHAh
     
  6. Gulfman
    Offline

    Gulfman Well-Known Member

    Posts:
    423
    Likes Received:
    0
    State:
    Florida
    Not to Mention the characters you ran into...
     
  7. AZDave
    Offline

    AZDave Well-Known Member

    Posts:
    508
    Likes Received:
    0
    State:
    Arizona

    One size (policy) fits all? DoubleD surcharge? Did you need a bill counter? :laugh:
     
Loading...

Share This Page