Personal EQ for a high volume home

[InsAgentSF]

I don't have his HO. If i had i could place him with CHubbs

[Lucky One]

If you don't have home, sounds like he is playing you like a drum. If a guy has a home that big, he certainly would need excess liability, collections, etc. I can't imagine he only wanting the quake from him. You need to find who the underlying carrier is, this is the x factor.

[mhutch69]

Why did the owner not select EQ with his homeowners? Or, are you looking for HO with EQ end? If he found HO, I thought it was required that EQ be offered? Even though the deduct and pricing stinks...

Interested to know. Chubb will do the high value homes but will not like the EQ requirement.

[sanddog1]

Remember? Only CA Admitted carriers are required to follow that Law.
A home that size is no way with and CA admitted, most likely for that reason EQ must be offered.

[Lucky One]

what do you mean, not admitted, what about Chubb, Fireman's Fund, or AIG Private Client Group. They are the players with Atlantic Mutual also moving into the market. If the underlying is with a non admitted, you can go in with these products and wrap up the entire deal.

[CoastalSoCa]

I write these all day long

Coverage can be written (if it has accptable PML) with no problem with a reasonable deductible of 5% of TIV or 7.5 or 10% per unit (all depends on that PML again) 5 Mil is the max with one company, but have another where their max is 10 mil or can write a primary/xs basis. Carriers are admitted or non admitted depending.

And if it has a high deductible due to PML, I normally do a Earthquake Deductible Buy Back.

So, it is available, but right now due to reinsurance problems stemming from Katrina, not cheap..

M

[sanddog1]

LUCKYONE , I am not trying to offend you but were getting a little off topic and appointment with Firemans Fund, AIG and Chubb is a tough one to get. Chubb personal lines isn't to hard. These people are not going to write a 9 million dollars EQ policy in CA. Will I guess for the right price ? InsAgentSF needs help placing this business not getting and impossible appointment. I said if their admitted and on the hook for the home, by LAW they must make and offer of coverage. I doubt very much that any of the above carriers as big as they are, will want to write that PKG for that reason. So I say again a non-admitted carriers is probably on the hook for HO-3 or 5. Maybe even a DP-3. They don't have to make and offer of E.Q.

[sanddog1]

There you go SFINSAGENT CoastalSoCa has a stand alone program. If stand alone E.Q. of course it doesn't matter if your non -admitted or admitted Geee. Like i said money is the answer. It can't buy you Love but sure and the hell gives you a better selection.

[CoastalSoCa]

Oops I forgot - the carriers I was referring to in my post were NOT homeowners carriers - they are stand alone Quake carriers, one whose form was specifically designed for homes.

M

[kls]

You can try Monarch E&S in Pasadena or The Gorst Co. in also in Pasadena. They write with Essex and Redlands Insurance.

[CoastalSoCa]

Most every wholesaler has access to the same markets as other wholesalers. If the person posting the question has a wholesaler he deals with, then I would suggest he call them and tell him he needs a stand alone quake quote on a high value home.

A lot of the carriers mentioned who write the hi value homes sometimes do not want to do the quake for perhaps good underwriting reasons, construction, capacity, soil conditions, and have taken the stance that quake will have to be offered by someone else and it has never been a problem as long as it is offered, not necessarily by them. Or the client does not want a mini or broadened mini what ever they are called and buys a stand alone. Price is higher, deductibles are usually better, coverage is broader.

And I dont know of many standard carriers that are going to give you an appointment based on 1 house, 9 mil or not. There are hugh volume committments that come along with those appointments. That 9 mil house is worth about 35,000 quake wise, and with whatever the homeowners coverage turns out to be, that still ain't enough to get you an appointment.

Sometimes ya gotta go outside the box to put things together.

M

[InsAgentSF]

Thanks guys. I appreciate the feedback from all of you

[smathia]

Try Suzanne at RPS scottsdale - they do all kinds of hard to place high value personal lines

[Matt]

Our high value limits are $50 million with only 200 ft of brush clearance required and we can fully customize the coverages how ever you see fit!!!Call Abram Interrstate and ask for Matt Abram 916-780-7000.