Ocean Cargo/Marine

[HHB]

I have an importer I need to write. They import about 75m of minerals/metals per year. Their Ocean Cargo coverage is with Travelers right now, paying 115k per year. I know a couple of the big writers - Travelers, Hartford, Chubb. I have not written very much of this. Any advice as far as markets to look at? My interest would concern coverages, commissions, appetite, etc. Any advice would help. Thanks.

 

[Soaringagent]

Why are they looking to change? Are they looking to save money or get better coverage?

 

[djs]

This is out of my league. For me, it's a time sink, I'd spend a lot of time, have no idea what I'm doing, and end up not making any money.

Obviously, Travelers will write it, Chubb probably will. It's time on the phone. Of course, you need the app to shop it, or it's a waste of time.

One of the big things to know is when they take possession of the product. If they don't own it till it lands here, it's a bit easier. If they have it overseas, it will be a bit of a challenge (no control).

Personally, unless you are looking to get into this market, I would pass on this. Yes, you'll make $10K, but you'll have to learn a lot, hope you do things correctly, and then hopefully, make it happen.

Dan

 

[warrenins]

Go to programbusiness.com or insurancejournal.com and poke around on their programs search engine. You might uncover a market