NEW YORK – Restaurant Supply Store – Metal Goods Manufacturing for Restaurants/Bars/Hotels – Very large slip and fall loss 2 yrs prior – $20,000 Premium – NY – Household goods mover MTC account – Trucker’s GL also separately placed – $800 Premium – NY CALIFORNIA – Large Pallet MFG for $13K in premium in CA. – Large Used Car Dealership… Read More »Our March Success List
If you have active business insurance policy, do your best to keep it, and have no cancellation, especially for non-payment’ otherwise, your policy underwriter can say that future “rewrites” after midterm cancellation may be problematic. This means that another rewrite may need to go through brokerage where rates on your class most likely will be higher and forms more restrictive,… Read More »Hard Market – Should you wait for it?
Insurers in California will now be required to disclose cancellation penalties —prior to or concurrent with an application for insurance — thanks to legislation recently signed by Gov. Arnold Schwarzenegger. Previously, the law stated that an insured was entitled to return of his or her premium if the policy is canceled, rejected, surrendered or rescinded. But the new law, AB… Read More »Insurance Cancellation Fees Must Be Disclosed in Calif.
According to Surplus Line Association of California (SLA) it has processed $1.9B in premium for the first 6 months of 2010, a decrease of 15.5% compared to the same period in 2009. The total number of policies filed with the SLA from January 1 through June 30, 2010, was 209,545, representing 4% decrease compared to the 2009 – first 6… Read More »California Processes 15.5% Fewer Surplus Line Premiums