I thought renewals were going too peaceful this year.
Yesterday I received the renewal policy for a client and the Cabinetry and carpentry is on but code 91583 Contractors and subcontractors has been omitted. Ah the underwriter don't ya just love um?
This is a $10,000 premium account and for years they've been with this same insurance company. Last February they did step out of bounds, one time and needed to rent a boom. This sent the UW over the edge. He stated how he envisioned the boom rolling down the hill, taking down power lines, loss of power to a nearby grocery store, loss of refrigerated products, loss of life, on and on.
I really wanted to tell the UW that he probably wouldn't sleep at night if he knew how many people step outside their bounds of operations. Not on purpose it is just that many clients don't understand.
The UW told me that at renewal, because of the boom incident, there would be a premium increase. He never said that coverage would be dropped.
I am asking that the code be put back into the policy. The business makes cabinets, mill work and installs it. Sometimes they will make the products and sub the installation.
A work around for the short term could be: make 100% sure the sub have insurance (get those certs!!!) have subs provide additional insured in my clients favor, being primary & non contributory as well as having subs sign hold harmless agreements. The previous is something that I had already told them, even when they still had code 91583.
Just when I was about to make a weeks trip around the State to visit clients and do some prospecting. Now a problem follows me.
Non renewal of code 91583
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InsAgentSF
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MAG
Nonrenewal Code 91583
Maybe I didn't understand everything you said but how can the insurer issue the renewal, leave out a specific class code and not give notice to the insured of the "reduction in coverage". I don't know about the insurance code in California but in Virginia there has to be written notice to the insured for ANY reduction in coverage including amendments of current endorsements. A legal notice of reduction in coverage would have alerted you and the insured to the need to remarket.
I don't see cabinet making as that high-risk of a class, again, I am in Virginia and you are in California. We insure 3 (I believe) cabinet makers. The biggest problem I have had is not the installation but the "shop" itself and the dust control, building construction, etc.
If they have a clean loss history, good loss controls in place, up to date dust control on their equipment, etc.....shouldn't you be able to find them a new home?
Good luck to ya!
I don't see cabinet making as that high-risk of a class, again, I am in Virginia and you are in California. We insure 3 (I believe) cabinet makers. The biggest problem I have had is not the installation but the "shop" itself and the dust control, building construction, etc.
If they have a clean loss history, good loss controls in place, up to date dust control on their equipment, etc.....shouldn't you be able to find them a new home?
Good luck to ya!
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MAG
I guess I "assumed" it was a standard carrier, actually didn't think about it being a non-admitted or excess & surplus lines carrier which yes, would most likely have a "conditional" renewal on the policy.
Either way, it won't be an easy risk to re-write and yes, good thing they aren't a GC. However, in Virginia we actually have a market for GC's in the home building industry (thank goodness)
Either way, it won't be an easy risk to re-write and yes, good thing they aren't a GC. However, in Virginia we actually have a market for GC's in the home building industry (thank goodness)
Etime, I have a bunch of carriers that will write Cabinet shops all day, I think in your State. The big issue is installation. Most don't want more then 25% install work. I also have some great non-admitted markets that you could get appointed without using and MGA. Pita333333 is correct they don't want the renewal, however by law they have to make an offer unless they completely eliminate the class. That's not going to happen.
I am not in CA, I am in PA. I have found that Cabinet makers / millwork, that install, have shops, install millwork / cabinets and sub some work aren't the easiest to place in PA.
Most brokers I know have a very hard time with GC's. It's getting better for the GC market but it is still not fun.
Most brokers I know have a very hard time with GC's. It's getting better for the GC market but it is still not fun.
sanddog1 wrote:Etime, I have a bunch of carriers that will write Cabinet shops all day, I think in your State. The big issue is installation. Most don't want more then 25% install work. I also have some great non-admitted markets that you could get appointed without using and MGA. Pita333333 is correct they don't want the renewal, however by law they have to make an offer unless they completely eliminate the class. That's not going to happen.