Tips for a Smooth & Quick Binding Process

Dear Friends of Beacon Hill,

As we begin 2012, we wanted to take a few minutes to talk about 2011, and to thank you for our shared successes. Last year was Beacon Hill's twenty-first year in business, and our best ever. All of our benchmark results were very strong, with metrics of particular interest being:

GWP up over 23%
Renewal retention 82.93%
New Business submissions up over 24%
New Business submit to bind ratio 30.24%
New Business writings up 40.11%

We attribute this success to our agents and carriers. We’ve been very lucky to work with agents that understand and can sell coverage. Equally as important have been our group of carriers, all of whom do a fantastic job structuring the right coverage for each opportunity. The combination of excellent coverage from exceptional carriers and producers who find clients that care, has driven all of our success.

The year 2012 will be a transitional year for our marketplace. Rates are clearly poised to climb over the next twelve months. We are confident that the same dynamic insurance professionals who brought us such a good 2011 will bring us even better results in this new environment. Agents who can effectively sell coverage always flourish in a firming market, and carriers who manage their books responsibly always end up ahead.

Tips for a Smooth and Quick Binding Process

To get the year started off successfully, we want to remind you of some ways you can help make the binding process go as efficiently as possible. In order to receive your binder and policy number quickly, please remember to send us the following information along with your request to bind:

- Appropriate E&S forms
- Insured’s TRIA decision, if necessary
- Any other pre-binding requirements as listed on your quotation.

Receiving this mandatory information up front will allow for a quicker response from our underwriters and means less back & forth to get everything finalized. Please don’t hesitate to give us a call if you have any questions.

Site Pollution for Healthcare Facilities
Click here for a product information sheet.

What is Site Pollution for Healthcare Facilities?

It is a policy designed to cover claims arising from pollution conditions at, on, or emanating from a specific scheduled location, whether it is a hospital, rehabilitation center, nursing home, or other medical facility.

How does it work?

• Coverage is designed to respond to issues faced by medical facilities with patient rooms, treatment rooms, community areas, food preparation areas, labs, etc.
  
• The policy focuses on potential indoor air quality problems, including mold and legionella pneumophila.
  
• Coverage can be modified to cover only new conditions occurring from policy inception onward, only unknown pre-existing conditions, or both.
  
• The policy covers clean-up costs for bacteria or viruses required by the health department or Center for Disease Control.
  
• Coverage includes waste disposal activities, as well as emergency response costs.
  
• Coverage can be constructed to apply only to on-site bodily injury, property damage, and clean up; only to off-site, or to both.
  
• Coverage is very flexible.
  
• Coverage is almost always Claims Made.
  

Click here for a product information sheet.
Email us for more information.

Learn about the supporting lines Beacon Hill can access for you.

The most common types of supporting lines we can secure are: Pollution, Auto, Excess, Professional, General Liability, and Workers Compensation. For more information, call us at 1-800-596-2156.

Success Stories

• Hazmat hauler (17 units/trailers)
  Coverage purchased: Auto
  Policy limit: $1M
  Premium = $98,000
  
• $2M Waste broker
  Coverage purchased: General Liability/Contractors Pollution Liability/Professional Liability and Excess
  Policy limit: $1M/$2M Primary, $2M Excess
  Premium = $18,225
  
• Apartment complex - management company (80 buildings; 650 units)
  Coverage purchased: Site Pollution Liability
  Policy limit: $1M/$2M
  Premium = $23,000
  
• Cigar factory
  Coverage purchased: Site Pollution Liability
  Policy limit: $5M/$5M
  Premium = $37,000
  
• $2.5M Industrial cleaner/painter
  Coverage purchased: General Liability/Contractors Pollution Liability and Excess
  Policy limit: $1M/$2M Primary, $4M Excess
  Premium = $26,000
  
• $850k Asbestos abatement & demolition contractor
  Coverage purchased: General Liability/Contractors Pollution Liability
  Policy limit: $1M/$2M
  Premium = $15,772
  
• $2M Asbestos abatement contractor
  Coverage purchased: General Liability/Contractors Pollution Liability/Professional and Excess
  Policy limit: $2M/$3M Primary, $2M Excess
  Premium = $20,000
  
• Retirement community (50 locations)
  Coverage purchased: Site Pollution Liability
  Policy limit: $1M/$2M; 2 year policy
  Premium = $21,000
  
• $800k Fire/water restoration contractor; carpet cleaning; mold abatement contractor
  Coverage purchased: General Liability/Contractors Pollution Liability/Professional and Excess
  Policy limit: $1M/$2M Primary and $1M Excess
  Premium = $8,000
  
• $3.7M Environmental remediation management/consulting
  Coverage purchased: General Liability/Contractors Pollution Liability/Professional
  Policy limit: $2M/$2M
  Premium = $16,000
  
• Trucking maintenance yard and office
  Coverage purchased: Site pollution including TPL
  Policy limit: $1M/$1M
  Premium = $4,771