Does anyone have a CGL market for an importer of consumer goods. Some are private labeled some are not. Annual sales volume is $2,000,000.
Items include: Children's toys, bikes, stuffed animals, children's bikes, children's batter powered vehicles, toy water guns, toy helicopters, picture frames, picture frames, cell phone cases, dog collar & leash.
Evanston declined. Admiral and CNA are at 25k.
I can sell this account at 10-15k.
Thanks,
Sarkis Kaladzhyan
818-906-7900 x119
sarkis @ calcocommercialinsurance.com
CGL for Various Consumer Goods Importer - CA
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Re: CGL for Various Consumer Goods Importer - CA
Considering the products and the fact that the items are being imported, $25k is less than 1.5% OF SALES, is a very good price.
The problem is that if the BI or PD claim is caused by the Manufacturer's product, the claim wil be paid by your importer's insurance company. They are not able to subrogate the loss to the foreign manufacturer. Most all of U.S. preferred companies will not underwrite this exposure.
The problem is that if the BI or PD claim is caused by the Manufacturer's product, the claim wil be paid by your importer's insurance company. They are not able to subrogate the loss to the foreign manufacturer. Most all of U.S. preferred companies will not underwrite this exposure.