March Newsletter: The "Rules" for Handling a Renewal
3/23/2011
Dear Friends of Beacon Hill,
The year is moving along quickly, and the Beacon Hill team has been busy! Compared to last year’s numbers, we received a 36% increase in new business submissions for the month of January and a 27% increase for February. Business appears to be on the upswing for many insureds, and environmental insurance opportunities are out there! Please continue to contact us if you would like to discuss a specific account or new opportunity.
Visit our blog to get the latest environmental insurance news or find us on Facebook, Twitter, or LinkedIn. As always, thanks for reading the Beacon Hill newsletter!
The “Rules” for Handling a Renewal
Many agents are feeling pressure to bring significant reductions to the table at renewal. While we understand the need to be competitive, we think it’s important to focus on factors beyond just price. When thinking about marketing an upcoming renewal, please consider the following… Read more.
Railroad Protective Liability
by Allison McGreal
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. Read the complete article.
Main Account Types Handled by BHA
- Environmental Contractors and/or Consultants - All lines
- Environmental facilities (landfills, TSDS, recycling, transfer stations, etc.) - All lines
- Hazardous Materials/Waste Transporters- All lines
- Non-Environmental Contractors
- CPL and E&O (including mold)
- TPL
- Non-Environmental Facilities (manufacturing, schools, etc) - CGL with EIL & TPL
- Non-Environmental Transporters - TPL and EIL
Success Stories
Type and Size of Risk
|
Type of Coverage Purchased
|
Policy Limits
|
Premium
|
| $4M Tank contractor and soil tester |
GL, Pollution, and Professional |
$2M/$4M |
$21,000 |
| $38M mechanical contractor/design build contractor |
Professional and Pollution/Mold |
$1M/$2M |
$30,000 |
| $44M HVAC contractor |
Mold and Pollution |
$1M |
$20,500 |
| $42M Industrial Contractor working in Petro-Chem Facilities |
GL, CPL, and Excess |
$1M Primary
$11M Excess |
$191,000 |
| Former warship turned into historical museum - 1 location |
Site Pollution |
$1M/$1M |
$3,866 |
| $410k Environmental consultant |
GL, CPL, and Professional |
$1M/$2M |
$5,128 |
| $1.7M Air duct cleaning and HVAC services |
CGL, CPL, Professional, and Excess |
$1M/$2M Primary
$1M
Excess |
$17,484 |