Producers in construction offer advice for producers breaking in
“Affiliate with another agency that knows the industry and has the right markets. There are a limited number of markets out there for contractors and they vary in whether they want residential or commercial. To be successful, it’s critical to have the right markets to line up with contractors.”
David Sinclair, Sinclair Group, Wallingford, Conn.
“Know the business. You absolutely have to understand the construction business. They have their own vernacular just as the insurance business does. And you can acquire that knowledge by joining construction related associations. You should spend some time with the experienced loss control reps with your carriers they have a great deal of construction background. There are education programs… A contractor can spot a fraud a mile a way.”
Melody S. Peevy, Waldman Brothers LLP, Dallas
“You need to look at contract reviews, and understand the contract language and insurance policy forms. Because the residential side is in surplus lines, know the forms because all the forms are different. The additional insured is critical. You have to understand the contract language indemnification agreements versus insurance agreements and be able to explain what’s covered under the insurance policy.”
Lisa Heppler, Wick Pilcher Insruance, Phoenix
“Read up, read up, get some exposure and after you have a basic knowledge of the market, which is all excess and surplus lines, proceed with caution.”
Tony Martely, Elliott, McKiever & Stowe Inc., Fla.
“Absolutely learn all you can about the particular ins and outs. There are pitfalls in the coverages and in the marketplace and you must know all you can before talking to prospects or you’re going to be embarrassed.”
Rubin Alspector, Kornreich/NIA Organization, N.Y.
“There’s a bunch of ways people sell. It’s OK if you sell by being an entertainer. That’s a good way to attract business, but when you are working on the business you better know the product. The seller better beware just as the buyer has to beware. It’s very complicated and getting more so by the day.”
Charles Comiskey, Brady, Chapman, Holland & Associates, Inc., Houston
Topics Construction
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