New! Get Information Based on Your Agency Specialization
2/16/2012
Dear Friends of Beacon Hill,
The year is moving right along – can you believe it's already the middle of February? We hope you are staying warm and taking advantage of all the great opportunities out there to write environmental coverage! We have had some recent success with new business, specifically Site accounts and some CPL accounts generated from our OnTarget Program. If you need help with a unique client, or would like some suggestions for finding new opportunities, feel free to call us at 1-800-596-2156 or email us.
New! Get Information Based on Your Agency Specialization
Many agencies focus on a specific type of client or industry. This allows them to provide customized guidance, support, and knowledge on the common exposures these insureds regularly face. Beacon Hill has now made it easier for you to get information relating to your specialized fields. We have put together all the product information and applications needed to help sell the right coverage to your insureds:
Filter Through the Pollution Market
By Bill Pritchard, President of Beacon Hill Associates
Printed in the February 2012 issue of American Agent & Broker
Understanding the developing trends in any market segment is critical to having a successful year. 2012 promises many changes in the insurance industry, but particularly in the environmental segment. Events are finally moving the business in a positive direction, and now is the time for agencies to get on board with the huge opportunities presented by pollution coverage.Read the complete article HERE.
Spotlight on: Endorsements – TSHS and TPL
By Allison McGreal, Assistant Vice President – Underwriting Division
Generally speaking, the Contractors Pollution Liability (CPL) form provides coverage for your operations performed away from premises you own, rent, lease, or operate. Many contractors may have reason to store hazardous waste or material on their sites. If Site Pollution is a usual exposure, as with a gas station, recycling plant, or other facility, the Environmental Impairment Liability, or Site Pollution Liability (EIL) form, is appropriate. However, when the site storage is a temporary exposure or is incidental in nature, the "Temporary Storage of Hazardous Substance" endorsement (TSHS) may be used. This is just one of the important endorsements that can be added to a policy to make sure an insured’s exposures are properly being addressed. Read more.
Success Stories
- $850k environmental consultant and engineering firm
Coverage purchased: General Liability, Contractors Pollution Liability, and Professional
Policy limit: $1M/$2M
Premium = $7,929
- Apartment complex - management company (80 buildings; 650 units)
Coverage purchased: Site Pollution Liability
Policy limit: $1M/$2M
Premium = $23,000
- $850k Asbestos abatement & demolition contractor
Coverage purchased: General Liability/Contractors Pollution Liability
Policy limit: $1M/$2M
Premium = $15,772
- $1.45M Environmental contractor, majority of operations are emergency spill control
Coverage purchased: General Liability/Contractors Pollution Liability/Professional/Auto
Policy limit: $1M/$2M
Total premium = $38,834
- $500k biosolid pumping and spreading contractor
Coverage purchased: General Liability, Contractors Pollution Liability, and Transportation Pollution Liability
Policy limit: $1M/$2M
Premium = $3,167
- $900k Fire/water restoration contractor and carpet cleaning contractor
Coverage purchased: General Liability and Contractors Pollution Liability
Policy limit: $1M/$2M
Premium = $9,558