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 energy-related accounts and some large multi-line accounts. 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.
As always, thanks for reading the Beacon Hill newsletter! We appreciate your business and look forward to working more with you this year.
Winterizing Your Clients’ Insurance
Most areas of the country are being rocked by winter weather—freezing temperatures, ice, snow, and cold winds. Many businesses see an increase in work during the winter months, especially those that specialize in any kind of machinery maintenance. For many companies, cold weather means a significant increase in projects involving heating systems, plumbing, snow removal, chimney maintenance, fuel delivery, tank cleaning, etc. It's crucial that these companies have coverage in place to protect themselves from pollution claims.
Some of the companies that see an increase of activity in winter months include:
- HVAC Contractors – Maintenance for heating units
- Plumbers – Fixing frozen pipes and busted water heaters
- Auto Repair and Vehicle Maintenance Facilities
- Heating and Oil Contractors
- Chimney Sweeps/Maintenance Contractors
- Snow Removal/Street & Road Contractors
Make sure your clients aren’t “left out in the cold” this winter; call them today to make sure they have the right coverage for their operations.
Bill Pritchard Featured in Rough Notes Article ‘Environmental Insurance: Emerging Risks, New Coverages’
Beacon Hill’s President, Bill Pritchard, was featured in a recent article titled “Environmental Insurance: Emerging Risks, New Coverages,” published in Rough Notes magazine. Bill was interviewed by a staff writer for the publication and asked to provide his insight on current issues relating to both environmental and non-environmental risks, as well as available products to address these concerns. Read the article.
Add Value to Your Account: Offer a Multi-line Program
We work with agents around the country to place environmental insurance for their clients. Many of these accounts are like puzzles, and require us to fit different coverages together to create a complete insurance program. While we focus primarily on helping our agents write environmental coverages to protect their clients’ businesses, we also help them build their accounts by offering supporting lines, adding value to these accounts and making them difficult for competitors to take away.
Top 3 Advantages of Offering a Multi-line Program:
1. Streamline your client’s insurance account by offering all coverages with the same carrier. This saves time and the insured will often receive a multi-line discount on premium.
2. Simplify all communication with the carrier. By working with one carrier to handle all lines of an account, there is typically one contact who handles all questions and claims.
3. Eliminate the possibility of multiple carriers having differing views on a claim or discrepancies on handling the insurance coverages.
The most common types of supporting lines we can secure are: Pollution, Auto, Excess, Professional, General Liability, and Workers Compensation. For more info on multi-line accounts, contact us.
Recent Success Stories
A $6.6M petroleum storage facility and pipeline storage facility construction company purchased a General Liability/Contractors Pollution Liability/Site/Professional/Auto/Excess policy with a $16M limit for $121,000 in premium.
Large safety and health consultant looking to expand their coverage to include E&O. Insured purchased a combined form General Liability/Contractors Pollution Liability/E&O policy as well as a $5M Excess policy via our PartnerOne program for $23,210 and $21,069, respectively.
A $15M construction firm purchased a Contractors Pollution Liability policy with a $1M/$2M limit for $10,000 in premium.
Manure/bio-solid spreading contractor performing work for agricultural clients throughout the Midwest. Insured purchased Contractors Pollution Liability/Transportation Pollution Liability coverage for $7,490 based on $2.3M in revenues.
A $6.2M oil & gas insulation contractor purchased a General Liability/Contractors Pollution Liability/Auto/Excess policy with a $6M limit for $92,000.
Startup weatherization contractor purchased General Liability/Contractors Pollution Liability coverage for a minimum premium of $2,525.
A $30M street/road/bridge contractor bought a combination Contractors Pollution Liability/Professional/E&O policy, with Site Pollution coverage for the contractors yard for $24,000.
Chemical distributor/chemical blender with $27M in revenues purchased a General Liability/Products Pollution/Site Pollution policy for their facility, with a $2M/$2M limit for $40,000.
A $6M gas station build out, tank installer, and emergency response/vac truck contractor. Package GL/Contractors Pollution Liability/Professional coverage, with a $4M Excess, plus Auto with broadened Pollution/MCS 90 and Workers Compensation. Total premium was $130,000.
Asbestos abatement contractor with $510K in revenues purchased a multi-line policy including GL/CPL/Professional/Excess/Auto/Workers Compensation for a total premium of $28,576.