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Property Catastrophe Insights

Keep reading for essential info on program conceptualization, marketing, placing and servicing programs.

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Posts tagged with loss - loss

Meet OLLE, the Occurrence Limit of Liability endorsement

Author SamanthaKimball , 8/28/2014

Undoubtedly, you’re familiar with many ways that insurers seek to limit their exposures to loss. But how well do you know OLLE?

Sometimes referred to as a Scheduled Limit of Liability Endorsement, an Occurrence Limit of Liability Endorsement (OLLE) has become commonplace on property insurance policies. The endorsement clarifies the amount of insurance that is available in any one occurrence for each location or for each subject of insurance (i.e. buildings, contents, inventory, business income, etc.). Oftentimes, in addition to defining their maximum loss potential, underwriters will impose this endorsement as a reaction to their perceived under-valuation of reported assets.


Marc Roberts / Foter / Creative Commons Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0)

How to secure greater price reductions in the softening property-cat market

Author SamanthaKimball , 5/9/2014
As detailed in our previous post, we’ve entered a softer market for catastrophe-exposed property insurance, as companies are reducing prices due to an abundance of capital to be deployed and recent profitability. But brokers may be able to secure even greater price reductions for their clients. To do so, you should consider potential ways to restructure the programs, drive carrier competition, and obtain the most complete and accurate data possible for underwriters. Becoming more granular with construction detail can often reduce “modeled expected loss” and drive down prices even further.