Commercial Carriers

[GeorgiaAgent]

For the first year, I have planned to write the majority of my commercial business through Traveler, Hartford, CNA, Safeco, and ACE.....along with using Burns & Wilcox and Tapco for special cases.

Beyond these, are there any commercial carriers out there that do not have a minimum premium requirement to keep a direct appointment. I want to offer my clients as many quotes as possible, but realize I can't meet every companies expectations.

Thanks for the advice.

 

[djs]

What markets are you looking at for commercial? Afterall, you probably aren't going to quote Hartford and Tapco to the same client.

Don't try to quote everything under the sun to clients, if you do, you are selling price, not a winning strategy. You need to know who covers what, who has competitive prices in different markets, and be the advisor to the client.

It seems you have things covered well enough unless there is a market you can't address that you want to focus on. With commercial, youi can't be all things to all people, just pick a few areas and go to town.

Dan

 

[saieddie]

I agree w/djs. Price isn't always the only consideration. Find the companies that have a good program for the markets your looking at.
Getting a contractor a cheap rate is meaningless if the company doesn't have the endorsements he needs.

 

[warrenins]

Well said djs & Saieddie. Endorsements can be a make or break deal. Some of the endorsements that companies are asking for these days are just a big pain in the A*s and some carriers won't write them. Hired and non owned-pretty simple right? Not if you're a paper general contractor. The one I love most is a "waiver of subrogation". Subrogation-the basic foundation that allows an insurance company to recover losses that might be owed to them-not anymore!

Georgia who are you going through to get to the standard carriers you mentioned? There are probably a few other markets you need to consider, particularly for work comp. Ace is good but they have several minimum premium classifications ($5,000 and up) before they will look at an account.

 

[saieddie]

Yeah, I had a problem recently w/a contractor and additional insured completed ops endorsement.
You'd think all the major carriers would offer it. Think again.

 

[bobson]

For the first year, I have planned to write the majority of my commercial business through Traveler, Hartford, CNA, Safeco, and ACE.....along with using Burns & Wilcox and Tapco for special cases.

Beyond these, are there any commercial carriers out there that do not have a minimum premium requirement to keep a direct appointment. I want to offer my clients as many quotes as possible, but realize I can't meet every companies expectations.

Thanks for the advice.

I have a hard time believing any commercial carrier will not have premium requirements.

Anymore than 5 carriers and you spread yourself to thin. You want to get to know your underwriter(s).

 

[SoCalBroker]

Sounds like the the Orig Poster is using a cluster group or a preferred wholesaler like NIA - networked ins agents. That list sounds like it came straight off their homepage :-)

42 yr old agency and we use em too :-) Got Travelers that way this year, get to Chubb that way too. In California, markets are golden.

The challenge in commercial is matching the carriers appetite, competitiveness, and coverage form to your prospects business operations ... that takes some time to sort out from and experience context.

But IF your using a Gen Agent like NIA / or ATM or the like - they can help you wing it.

Im a 97% Commercial poducer - other 3% is Personal Lines and some group and 2-3 life cases a year. I like to niche' - cuz theres just too much to know trying to keep pace with all the different industry segments out there and the carriers ever changing appetites and competitive carriers entering and exiting markets alls the time.

Where I live - there are enough businesses in a handful of niches to make me wealthy beyond my wildest dreams - I just need to get more of my share :-) So focus on a few good ones is the advice that works for me - your mileage may vary.

 

[Soaringagent]

So, when someone asks for a quote for a type of business that is outside of your niche.. do you refer it to another agent?

 

[SoCalBroker]

Sometimes. For example - if its a large group benefits case - I have a source ... If its a Condo Association - I have a friend that writes 80% of them in Orange County. I send it to him.

Many times there's another producer in our office that can run with it.

Many times I will place it if I have enough expertise in that area.

I dont typically Pro Actively PROSPECT outside of my niches though. Im not going to spend $ mailing / phoning / buying lists, going to networking functions to attract say .... General Contractors or Restaurants. Can I write them? Can I skillfully assess their needs and produce a compettitive and competent solution to their needs? YES to BOTH. Will I write them - You Betcha.

So, when someone asks for a quote for a type of business that is outside of your niche.. do you refer it to another agent?