Professional Athlete Umbrella

[stuartmoore10]

Does anyone know of a good E&S carrier that will do an umbrella for a professional athlete? He is on the PGA Tour, but I am having a hard time finding a carrier that will take this risk.

I know someone obviously writes them, because I would think all Pro Athletes would have them.

Any thoughts or suggestions?

 

[moonlightandmargaritas]

Re: Professional Athelete Umbrella

Lloyd's takes that kind of action.

 

[stuartmoore10]

Re: Professional Athelete Umbrella

Is it usually pretty expensive. Say a $2 million dollar policy?

Also, are a lot of E&S brokers appointed with Lloyd's?

 

[OHInsAGNT]

Re: Professional Athelete Umbrella

Does anyone know of a good E&S carrier that will do an umbrella for a professional athlete? He is on the PGA Tour, but I am having a hard time finding a carrier that will take this risk.

I know someone obviously writes them, because I would think all Pro Athletes would have them.

Any thoughts or suggestions?

What is he looking to insure with the umbrella? Are you seeking insurance on his body and skills?

 

[SoCalBroker]

Re: Professional Athelete Umbrella

What is he looking to insure with the umbrella? Are you seeking insurance on his body and skills?

LOL ...

Both my sisters married high profile pro athletes .. I have to find out the carrier that does it. We have 5 or so pro athletes at the family agency.

If they are somewhat low profile athletes some standard markets will do it. Encompass / Travelers / Chubb / Firemans

We work with Carson Palmer / Mark Brunell / Tony Boselli and some NHL guys.

You might look into Navigators - they wrote a hockey player with a DUI for us - $5m limits over homes and autos - $4500 prem

NOT the Personalumbrella.com navigators program. Their wholesale div that does hairy stuff.

Could you get their whole package with Chubb? Or the other is AIG Private Client thru a wholesaler. They require the whole account or 3 or 4 lines at least. Auto / Home / Umbrella / Jewelry floater - all count as one line or a rental property. They are spendy on auto - but will take it no matter how much hair is on it. They do a lot of our High Net worth clients and big homes near Brush.

 

[stuartmoore10]

Re: Professional Athelete Umbrella

The thing is a have a quote with Auto-Owners, for his car and a renters policy. It comes to something like $600 for the year.

Encompass would do the Cars, Renters and Umbrella for $1600.

So, basically I have $1000 to play with. I just figured I could find a stand alone umbrella (2 million) for less than that. He is a lower profile athlete, but none the less he needs an umbrella for sure.

SoCal, let me know when you think of the carrier.

 

[SoCalBroker]

Re: Professional Athelete Umbrella

Navigators Surplus was the carrier - its the wholesalers name with the pen I cant recall ...

DUDE ... Pro Athlete for all lines with encompass for $1600 !!!

The guy spends that on a big nite at the sushi bar. Sell that - its the right thing for him ... encompass is a sweet program - sell the Elite.

Vs some cobbled together navigators following form excess policy for $1500 min prem - quick wasting your time.

Unless of course State Farm or Erie or some other captive will write that for less ...

Dont fall in love with anyone company unless its the best one for your client.

 

[INTLXS]

Re: Professional Athelete Umbrella

We write these with USLI. E-mail me at [email protected] We write in all states.