Beacon Hill's Environmental Insurance Blog
By Jamie Lewis, Account Executive
In 2012 we began to notice a trend in some of our environmental markets wanting to increase rates in their upcoming renewals. While this certainly did not apply to all carriers or all policies, we did notice slight changes of 3-5% from some carriers. Other markets took a more customized approach, carefully evaluating each policy, and charging an appropriate rate increase for the more under-priced risks.
By Becca Cole, Associate Account Executive
Occasionally insureds have a contract requiring higher limits than they currently carry. Sometimes, they are interested in raising their full policy limit to meet the requirement and provide higher limits for future jobs, but often it may be more practical to provide the higher limits required on a project specific basis. For example, if one particular job is requiring an $8M aggregate, an insured who feels comfortable carrying a $2M policy aggregate generally may not see the need to increase their full policy limit so much for an out-of-the-ordinary requirement.
By Brett Amick, Assistant Vice President and South Central Manager
The ongoing issues with insureds’ contract requirements force insurance professionals to push the envelope each and every day. Trying to keep up with a client’s needs can take a great deal of effort, and with pollution coverage becoming a very real issue for most business owners and operators, it is important to understand the differences in coverage forms. One major point to focus on is the important difference between Sudden & Accidental and Broad Form Contractors Pollution Liability.
Having trouble responding to challenging questions relating to CPL? We have put together some of the most common disputes pertaining to this coverage, and our suggestions for how to handle them.
National Underwriter recently interviewed our very own Bill Pritchard, President of Beacon Hill Associates, asking him to weigh in on changes in the market, pricing trends, and emerging risks. This article was printed in the August 1, 2011 issue of PropertyCasual360.com.
By Bill Pritchard, President of Beacon Hill Associates
Printed in the June 20, 2011 issue of Insurance Journal
The insurance needs of contractors continue to become more complex as the economy works its way out of the recession. Part of that increased complexity involves a company’s environmental exposures and how it chooses to address them. What was once a small concern has become one of the most important exposures a contractor needs to manage. Contractors are responsible to their clients for the environmental ramifications of their work, and the work of their subcontractors. Properly insuring that exposure is critical.
By Michael Tighe, Assistant Vice President
Insurance agents around the country understand the importance of including environmental liability insurance in their clients’ insurance programs, and many have become successful at identifying the coverages needed by the classes of business they work with most often. In order for these insureds to receive the most appropriate coverage for their operations, they must...
By Allison McGreal
Assistant Vice President, Underwriting Division
A typical Commercial General Liability Policy will exclude contractual liability which “indemnifies a railroad for bodily injury or property damage arising out of construction or demolition operations within 50 feet of any railroad property and which affects any railroad bridge or trestle, tracks, roadbeds, tunnel, underpass or crossing”. You may notice that the work doesn’t have to be performed within 50 feet of the tracks. If your client is performing these contracting operations within 50 feet of any railroad property, this is a significant exclusion and should be addressed via endorsement to the CGL policy.