Question on Carriers

[fed up]

And it's just a guy with a lawn mower

 

[Markthebroker]

Exactly. I am wrapping up a file for a law firm, and a gas station, and getting ready to propose an international importer exporter selling childrens toys in China, with cert requests from 2 retailers and a landlord - for now.

 

[EugeneM]

I understand what you're saying, but my question is more basic. But to answer yours, I have a real estate background. That includes commercial. I've also done insurance underwriting surveys for strip malls, restaurants, etc.

So my question is (assume I'm well-versed in restaurants), how do I go about learning the underwriting practices of each carrier? Is it just trial and error or is there a 'faster' way? I'm sure a mentor would help. But do research on my own, where would I go? Let's say I want to offer a line to restaurants and I want it to be something few agents focus on- how do I find out which carriers to go to?

Is there a database or website that lists carriers and what they offer? I have been searching old threads, and have read that you can ask carriers what they write a lot of policies on to get an idea on how much business they're doing in your area.

Let me know if my question doesn't make sense and I'll try to ask in a different way. And thanks for responding.

Not really any cheat sheet for carriers. You learn as you go or get mentored. Mentoring is much much faster... most direct way to the prize. The information is valuable... retailers spend years learning what carriers are best through competing against them and losing accounts, that experience is not cheap!

Keep the end game in mind. Do you want a huge book of commercial property clients? Do you know people in the industry that can send you business? Some brokers do niche in just property. I have a broker that sells earthquake almost exclusively to hoa's...

Maybe look up some commercial property brokerages in your area and look for openings?

 

[juicy]

Not really any cheat sheet for carriers. You learn as you go or get mentored. Mentoring is much much faster... most direct way to the prize. The information is valuable... retailers spend years learning what carriers are best through competing against them and losing accounts, that experience is not cheap!

Keep the end game in mind. Do you want a huge book of commercial property clients? Do you know people in the industry that can send you business? Some brokers do niche in just property. I have a broker that sells earthquake almost exclusively to hoa's...

Maybe look up some commercial property brokerages in your area and look for openings?

thanks! I'm not sure if I'm even going to do commercial. I was told this forum would be better for getting a little perspective on the question though. The example I used was also commercial so that's probably why I was directed here.

I'm still very much in the "research" phase of figuring out what I want to do.
But the information being valuable and only coming from a mentor or with experience, that makes complete sense and that was really what I was trying to ask. I just wasn't very clear about it.

 

[fed up]

How can I find out which carrier types are predominant in my state?
If you are now looking at personal lines you need to understand one thing: There are no secrets in this industry. If Company 'A' doesn't write in the state there is a good reason and a chance that others don't write there. If you are looking for the cheapest carrier, that may not be your smartest move because the coverage you can provide may not protect your customer.

 

[1manshow]

Market share reports will help determine who is a player and in which market they excel

 

[EugeneM]

Market share reports will help determine who is a player and in which market they excel

Surprised by some of the figures. A lot of regional carriers high up on the list.

 

[goillini52]

Let me know if my question doesn't make sense and I'll try to ask in a different way. And thanks for responding.

Your question doesn't make sense.