Great American Expands Underwriting to Include Single Entity Captives
Cincinnati, Ohio-based Great American Insurance Group announced that its Alternative Markets Division has expanded its underwriting to include single entity captives.
Highlights of Great American’s single entity captive model include:
- Target account premiums of $750,000 and higher
- Multi-line capabilities, including Property
- Multi-state product filings and enhancement coverages
- Excess of Loss (XOL) and Quota Share (QS) risk participation options
- Turn-key service capabilities, as well as unbundled service options for claim administration and loss prevention/risk management services
Great American’s submission criteria include:
- ACORD application or equivalent for all lines to be placed within the captive
- Loss runs for current term and at least 4 full prior years, valued within the past 3 months, including a description of each loss greater than $50,000
- Premium and exposure history to match the time period for which loss information is provided
- Most recent audited financials (and internal statements if audited statements are more than six months old)
- Other information such as Web address, loss prevention reports, copy of safety manual and desired coverage features is encouraged.
Source: Great American Insurance Group, www.GreatAmericanInsurance.com
