I would appreciate suggestions/contacts for carriers with an appetite for property insurance for public schools and other public entities, especially in coastal states.
Over the past several years, many public entities placed coverage with various government pools or undisciplined markets.
Poor quality submissions and unrealistic pricing often made it difficult for some markets to respond competitively to RFPs.
With renewal quotes now coming in above expectations, many programs will need to go out to market again.
Hoping to generate more competive quotes, I'll be working with a few agents/brokers and risk management consultants to prepare superior quality submissions specifically designed to be underwriter-friendly.
Since RFP's have short-fuses: I'd like to identify interested underwriters, in advance of the RFPs being issued, to discuss their submission requirements.
Thanks,
John Nixon
Asperta, Ltd.
john.nixon@asperta.com
www.asperta.com
Property Insurance for Schools & Public Entities
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Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
Re: Property Insurance for Schools & Public Entities
Given that you're probably looking at very high TIV's, along with a set loss limit and high deductibles, the key is to get a good lead carrier. I work in the corporate risk department of a large healthcare provider, so I can relate. Look at those carrier that have the capacity and underwriting skills - Chubb, Zurich, CNA, ACE, perhaps Fireman's Fund or Affiliated FM.
From there, you'll be looking at either the E&S market, London or Bermuda to fill out the excess layers.
As to the poor quality submissions, the key is getting the proper information from the public entity that includes all necessary COPE information.
In our case, we keep a working spreadsheet, as we continue to either lease or build additional facilities. FWIW, we KNOW we can't depend upon our broker to obtain the correct information.
Interview the agents/brokers. What experience do they have in handling public entities? How many accounts do they have that require multiple layers of coverage? Will they provide references for you to contact prior to being awarded the coverage placement?
From there, you'll be looking at either the E&S market, London or Bermuda to fill out the excess layers.
As to the poor quality submissions, the key is getting the proper information from the public entity that includes all necessary COPE information.
In our case, we keep a working spreadsheet, as we continue to either lease or build additional facilities. FWIW, we KNOW we can't depend upon our broker to obtain the correct information.
Interview the agents/brokers. What experience do they have in handling public entities? How many accounts do they have that require multiple layers of coverage? Will they provide references for you to contact prior to being awarded the coverage placement?
Re: Property Insurance for Schools & Public Entities
Check out Liberty Mutual Regional Agency Market companies. They are growing the School Insurance program in many states with their regional presence. Not sure where your coastal markets are(east or west) but they are a fine market with great coverage. Good Luck