New client: Multi-state MHC owner with an un-insured location due to cancellation
Line of Coverage: All Lines
Issue
MHC owner came to Tartan due to one location in their portfolio having its insurance coverage cancelled due to a large dog-bit claim. Current agent was unable to find a solution.
Action
Tartan built a comprehensive plan for addressing the "problem" location, leveraging the entire portfolio to paint a consolidated look at the overall risk profile, while also working with the client to specifically address risk mitigation around claims activity.
Outcome
An underwriting company who had previously disregarded the community was able to take the additional information and get comfortable with the risk. Terms were offered that not only addressed the un-insured community but reduced the costs for the overall portfolio by over 20%.
Commentary
Claims will happen. Without effective communication, the underwriting community will assume claims are indicative of poor risk controls that will lead to more loss activity. It often requires creativity, data, and an effective narrative to help underwriters get past significant claims and see the true risk profile of a client.
Kommentare