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Distinguished offers a Renewal Certificate Endorsement , now available for eligible Contractor’s Pollution Legal Liability Plus (CPL) and Contractor’s Pollution & Professional Legal Liability Plus (CPPL) policies. Property and Liability products are distributed through a national network of agents and brokers.
A Managing General Agent (MGA) is a specialized type of insurance intermediary that has underwriting authority granted by an insurer. Unlike agents or brokers, MGAs can bind coverage, price policies, and handle claims they essentially act as an extension of an insurer. How do MGAs Differ From Insurance Brokers?
Whats Covered The policy covers a wide range of risks for direct physical damage, including fire and theft, under an all-risk policy structure with broad coverage. Property and Liability products are distributed through a national network of agents and brokers.
One common question is whether the contractor and the property owner can be named insureds on the same Builder’s Risk policy. The answer lies in both parties’ financial interest in the property and how that impacts the insurance policy’s structure. Property owners may also choose to add Premises Liability coverage to the policy.
Youve submitted an application for City Insurance or New York Brick & Brownstone coverage through the Broker Connect portal now youre ready to bind a quote. Follow the steps below to bind your policy: Step 1: Log into the new portal Access the Broker Connect portal here. So, whats next? Step 10: Youre all set!
Distinguished has been an outstanding partner, and this expanded collaboration enables us to better serve brokers in the community association sector,” said Greg Douglas, President of Berkley Program Specialists. Together, our combined expertise ensures brokers can offer tailored, top-tier solutions backed by two industry leaders.”
While Builder’s Risk policies for both types of projects offer similar coverage, such as insuring for damage to the structure from fire, theft, and other covered perils, there are important distinctions between residential and commercial coverage. We offer 3-, 6-, 9-, or 12-month policies, with extensions available upon review.
If you missed our recent 30-minute webinar, “Hotel Primary Insurance: A Check-In to Success for Insurance Brokers,” don’t worry. Hear from industry experts as they discuss critical differences in Hotel Primary policies and key risks to consider. A: No, our policy does not exclude human trafficking.
Notify your insurer and broker as soon as possible, detailing how, when, and where the loss occurred and what property may be damaged. Review Your Insurance Coverage – Take the time to examine your liability insurance policy to confirm that it includes volunteer coverage.
Unlike competitors retreating from the market due to aggregation risks, our Fine Art and Collectibles insurance program brings fresh capacity and a willingness to underwrite policies tailored to Californias unique challenges. Many carriers encourage clients to insure their collections with specific Fine Art and Collectibles policies.
If you missed our recent webinar, “Fine Art & Collectibles Insurance: Q&A for Brokers,” don’t worry. A: We are currently available for commercial policies in California, but we do expect to have approval for personal collections very soon. Brokers with similar accounts are welcome to send them in for review.
Different Builder’s Risk insurance policies vary from one insurance carrier to another. Typically speaking, Builder’s Risk policies will cost anywhere from 1-5% of the total project cost. Who Should be Named in a Builder’s Risk Policy? Naturally, they must be named on the policy. Access our online Broker Portal.
Types of Valuations Insurance policies can be written on an agreed value/scheduled or blanket basis. If it’s a piece that increases in value, as with contemporary art and any high-value fine art collection, the agreed value in the policy could fall significantly short of its market value. Think Warhol, Banksy, and Haring.
Who Needs to be Insured by a Builder’s Risk Policy in Alabama? For a Builder’s Risk policy anywhere in the United States, it’s important everyone with a financial stake in the project be named in the policy. Cost of the project : The larger the project’s TIV, the more expensive a policy will be.
However, a general rule of thumb for Builder’s Risk is to expect a policy to cost anywhere from 1-5% of the total project cost. Who Needs to be Insured by a Builder’s Risk Policy? Developers : In larger commercial projects, developers need to be included on the policy. Access our online Broker Portal.
Brokers can now leverage industry data and loss profiles from similar organizations to provide their clients with more sophisticated insight into coverage limit adequacy and potential loss gaps. . “Now, it’s not only faster, but it’s also smarter. For more information on Zywave, visit www.zywave.com.
Public art insurance is a specialized insurance policy designed to provide coverage to all artwork or valuable collectibles owned or loaned to a public institution. For instance, a city could take out a public art insurance policy that would cover any artwork, historical artifacts, or even outdoor sculptures owned by that city.
For example, this has been ongoing since COVID but continues to have an impact – labor and product supply, and how that impacts whether we can extend a policy depending on the circumstances. Our max policy term is 24 months total, meaning the 24 months includes the initial policy term plus all extensions.
Unfortunately, these unique risks are rarely appropriately covered by standard homeowner insurance policies. Avid collectors who rely on their homeowner’s policy are likely to encounter low coverage limits — if their collectibles are covered at all. For most, this will mean a collectibles policy.
Our Builder’s Risk policies come standard with all of the most important coverages your clients will need to protect their under-construction properties. Distinguished’s Builder’s Risk Insurance policies are customized based on the needs and situations of your clients. How Much Does Builder’s Risk Cost in Georgia?
However, if your clients have been lucky enough to come across a rare Illustrator Pikachu Card ( worth over $550,000 ) or a vintage Boba Fett toy ( worth over $500,000 ), they’re going to need an insurance policy that properly covers them. This means a specialized collectibles policy. How Do You Insure a Toy Collection?
We cover both owned and loaned exhibits, with adjustable policy terms to accommodate planned exhibitions. These collections require layered policies to address complex ownership structures and geographic distribution. Property and Liability products are distributed through a national network of agents and brokers.
Register your agency with us to get your clients access to our exclusive private collections policies (if you haven’t done so already). Property and Liability products are distributed through a national network of agents and brokers. Then, complete an application form and submit it through our online portal.
Turnarounds of weeks or days to evaluate, quote, and bind policies are simply not acceptable in today’s hyper-competitive market. Whether it’s travel, aviation, marine, cyber, or any other specialized field, the ability to accurately assess and rate risk is paramount.
The risk transfer is essentially from the insured to the insurer, with no expectation of reimbursement from the insured for claims paid out, except in cases of fraud or violation of policy terms. Insurance Products: In insurance, when a claim is filed, the insurer evaluates the claim based on the policy’s terms and conditions.
Commercial General Liability policies typically have specific exclusions for intellectual property violations, including copyright, trademark, and patent infringement, and the Umbrella policy follows suit. Property and Liability products are distributed through a national network of agents and brokers.
As a wholesale broker, understanding the intricacies of management liability insurance is essential to effectively guide your agents and clients through the process of securing the right coverage for their unique needs. This is why making sure executives are backed by comprehensive management liability insurance is so important.
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