Need help with an Investment Property "Problem"

[TylerP]

Hey all,

Recently, a friend from high school calls me up and says he needs insurance on 87 rental properties. These rental properties are basically located in the slums and not a single one cost over $60,000. I am an independent agent located in MO with access to be about 10 different property and casualty carriers but none that will take on a risk like this.

If you had a sure-fire account (which this one is; he wants me to be his agent) but no easy access to a qualifying carrier, what would be your next step?

Can I call and work a deal with a commercial agency? Can I try to get some form of appointment with a special lines carrier?

Any suggestions?

Thanks all

 

[MGBAgency]

Just write a bunch of DP3s? Get them approved by Underwriting. Good to go? Slap a CASE umbrella on that.

 

[VolAgent]

Do you have Foremost? I seem to recall having a conversation with the carrier rep who was just basically begging for accounts like this. I know many companies will not do more than 4, I seem to recall him saying they would.