News From Beacon Hill - May 2009

Dear Friends of Beacon Hill,

Life has been busy as usual at Beacon Hill—we have been working with many of our regular agents, as well as new agents, to help them find insurance solutions that fit the specific needs of their clients. In addition to our brokerage business, we also remain very busy in our PartnerOne Environmental underwriting division, which is known for its excellent service and superior products.

Thank you for reading our newsletter and please don’t hesitate to contact us if you’d like to receive marketing information or claim scenarios!

What to do in a Challenging Market?
Get in Front of Your Clients EARLY.

If this difficult market has taught us anything, it’s that timing is everything. The sooner we can get information on what your insureds need, the sooner we can help you sell insurance by educating your clients on the type of coverage applicable to them and the environmental products that are available to them. By making that call early to discuss possible changes in the client’s business and reviewing their existing policies, you will open a discussion that could facilitate a more efficient renewal process, add lines to an account, and give your insured the best possible coverage. Don’t miss out on potential opportunities—get in front of your clients today!

Pollution Coverages for Trade Contractors

It is a misconception that the only people who have pollution exposures are those involved with hazardous substances. Unfortunately, this is not the case. In truth, anybody who works with, or can be held responsible for, the release of a substance into the environment that meets the definition of a “pollutant” in the ISO exclusion has a pollution exposure.

Trade Contractors are in a uniquely challenging position. While their responsibilities are often narrowly defined in the scope of services, they are usually one part of a multi-part process. This means that any claims that arise from a site may be brought against any or all of the contractors who performed operations at the location. And if the claim alleges something that is excluded by the contractor’s CGL policy, defense may not be provided. Read the complete article.

Working with Beacon Hill to Make the Renewal Process More Efficient

One of the ways we ensure that our agents have great options to present at renewal is to have all the materials we need to get your clients the best quotes possible. In order to do this, we need to have the application and all supporting facts in time to produce the information you are looking for. Each item we request serves a specific purpose in the process, and we need your help to make sure each renewal submission is complete! An example of how we are proactively requesting this information is by sending an Agent Renewal Questionnaire to our agents approximately 60 days before the account renews. This confirms that the contact information we have for you is current, we are aware of any significant changes to the account, and we are clear on the date you plan to present to the insured.

Please call us to discuss your renewal accounts as early as possible. We want to help satisfy your clients’ expectations on price while working hard to preserve the integrity of their coverage.

Success Stories

• Large Demolition Contractor with associated asbestos abatement work. Wrote General Liability/Pollution, Auto, and Workers Comp. $6M limits for $135,000.

• Cell phone tower contractor required to carry Pollution coverage by the General Contractor. $1M/$2M limits for $2,700.

• Lab packing and haz mat disposal company with $2.2M in revenues. Placed a primary package including Pollution/Professional, Auto, and Excess for $70,000.

• Commercial Contractor/General Contractor with $14M in sales. Purchased a combined Professional/Pollution policy with $1M/$1M limits, including Mold, for $20,000.

• $2M follow form Excess policy for a $4M environmental consultant renewal. $7,500 in premium and we saved them 15% on their General Liability policy renewal.

• Commercial electrical contractor with in-house design. Placed a Contractors Pollution and Professional Policy including Mold with a $2M/$2M limit for $40,000 based on $60M in revenues.