Search found 64 matches

by jimmyr1978
Thu Jul 11, 2013 11:23 am
Forum: Opinions
Topic: The Age Old Question-How much to split
Replies: 10
Views: 30800

Re: The Age Old Question-How much to split

What do you think? I would appreciate some input from other agency owners who have long term producers. I think that if a producer at our agency had $55,000 gross commission after 8 years, they would not be a producer with our agency any longer. Other than he sounds like a nice guy, why are you neg...
by jimmyr1978
Wed Jul 03, 2013 11:14 am
Forum: Hard-to-Place Accounts
Topic: High Mod Residential Roofer - KS, Western
Replies: 2
Views: 26244

Re: High Mod Residential Roofer - KS, Western

How big are they? If they're big enough, there are markets that may bite. If they're small, not sure if there is an Assigned Risk pool in KS.
by jimmyr1978
Tue Jul 10, 2012 10:36 am
Forum: Opinions
Topic: HELP...Waiver, Rider, GL Policy, ??
Replies: 1
Views: 3578

Re: HELP...Waiver, Rider, GL Policy, alot of ???s..HELP

First, do NOT post any documents here. This is discoverable, so you do not want anything to turn up in court that is not specifically requested through the legal system. Second, it appears that the claimant's attorney believes that they will exhaust the Demolition Derby's primary limits (most likely...
by jimmyr1978
Wed Mar 21, 2012 11:18 am
Forum: Hard-to-Place Accounts
Topic: CIBA Insurance purchasing group...Help
Replies: 20
Views: 28659

Re: CIBA Insurance purchasing group...Help

If anyone in the Midwest or South is experiencing issues with CIBA renewals, please share. Word on the street has been that this program was going to implode when the March 30, 2012 program renewal came. The lower layers supposedly were getting hit with some major claims. A CIBA representative told ...
by jimmyr1978
Wed Nov 02, 2011 10:35 am
Forum: Opinions
Topic: Should An Agency Specialize or have a Niche?
Replies: 12
Views: 12690

Re: Should An Agency Specialize or have a Niche?

2-3 industry specialties seems to be a safer bet. Just as you should diversify your investment portfolio, diversification of niches also makes sense. For example, I focus on 3 unrelated industries. This year, my main program for one of the industries is non-renewing many accounts due to poor loss ex...
by jimmyr1978
Wed Aug 31, 2011 10:40 am
Forum: Hard-to-Place Accounts
Topic: CIBA Insurance purchasing group...Help
Replies: 20
Views: 28659

Re: CIBA Insurance purchasing group...Help

I have seen a CIBA quote recently that included a "Modified Replacement Cost," whereas the insured is allowed to "reduce" the building value by 25% but then receive up to 125% RC per building. This allows CIBA to write a policy with a higher rate but on a lower TIV, making them c...
by jimmyr1978
Fri Aug 19, 2011 10:37 am
Forum: Opinions
Topic: Insuring multiple LLC's on the Same policy
Replies: 8
Views: 19166

Re: Insuring multiple LLC's on the Same policy

Some underwriters may be nervous about disparate ownership groups on one policy, and if the operations of each entity are different, then it most likely would NOT make sense to combine all into one policy. For example, a real estate developer uses one entity for general contracting/development, whil...
by jimmyr1978
Thu Aug 18, 2011 10:45 am
Forum: Opinions
Topic: Insuring multiple LLC's on the Same policy
Replies: 8
Views: 19166

Re: Insuring multiple LLC's on the Same policy

I'm not an attorney, but I'm 99.9% sure that an insurance policy has no bearing whatsoever on a plaintiff's right to sue all entities. If they did, defense should be able to easily dismiss the suit for entities unrelated to the claim - the insurance policy doesn't create vicarious liability between ...
by jimmyr1978
Thu Jul 21, 2011 10:39 am
Forum: Opinions
Topic: Newbie Question about Pay
Replies: 9
Views: 7580

Re: Newbie Question about Pay

what do you all consider a solid year for a producer? i have been in the business for 4 years now and i am doing close to $500,000 new premium each year mostly commercial P&C small and medium business. i am an independent agent. i am just curious, i am also in Mass. thanks Reasonable seems to b...
by jimmyr1978
Tue Apr 26, 2011 10:36 am
Forum: Hard-to-Place Accounts
Topic: 13,000 properties needing property insurance
Replies: 7
Views: 8668

Re: 13,000 properties needing property insurance

This is most likely going to be a manuscript form. A Lloyds syndicate is probably your only option. Find a good habitation property underwriter at a national wholesaler (AmWins, Crump, etc.) to work with. Also, please clarify: Is it your intention that the homeowners be insureds (first person covera...
by jimmyr1978
Mon Dec 13, 2010 1:19 pm
Forum: Opinions
Topic: Ex-Dates
Replies: 8
Views: 9806

Re: Ex-Dates

Jimmy, Was wondering if you could give us an update on the program you mentioned now that it's well over a year later? Are you still using them? How did it work for you? Thanks, h. We renewed our contract twice so far, and the ROI has been solid (6x ROI in year one alone). We have a niche commercia...
by jimmyr1978
Wed Sep 29, 2010 10:52 am
Forum: Opinions
Topic: Conflict of Interest
Replies: 13
Views: 13153

Re: Conflict of Interest

patstanley wrote:It is a bit risky offer. His employer would fire him if he gets caught.
His employer would fire him, and if there is an employment contract with a conflict of interest or non-compete, he should quickly hire an attorney to defend against the lawsuit.
by jimmyr1978
Thu Sep 09, 2010 10:40 am
Forum: Opinions
Topic: Unique risks, what's your story?
Replies: 3
Views: 4045

Re: Unique risks, what's your story?

Had to place Professional, CGL and Excess for a millwright contractor that repairs turbines in nuclear power plants (exclusively). Coverage was required, by contract, for their largest client. The insured called after being non-renewed mid-term by another company after an audit - the prior agent had...
by jimmyr1978
Thu Aug 26, 2010 10:34 am
Forum: Opinions
Topic: Discrimination against guests - Coverage question
Replies: 4
Views: 4599

Re: Discrimination against guests - Coverage question

There are Tenant Discrimination policies available, which are typically part of a property management E&O policy. However, they are much more common for landlords subject to Fair Housing Rules. It would seem an EPLI policy or a Miscellaneous Professional E&O policy with third party coverage ...
by jimmyr1978
Fri Aug 20, 2010 10:28 am
Forum: Hard-to-Place Accounts
Topic: Specialized Equipment Dealership w/ Repairs in MO
Replies: 3
Views: 3303

Re: Specialized Equipment Dealership w/ Repairs in MO

Jimmy, IDK if it is offered in your state but Hartford offers a STEP program, Specialized Truck Equipment Ins Program. If you can find access this program it should give you everything you need up to and including the Work Comp... I have found this to be an unbeatable program from a coverage and co...