Ask Your Peers - I need an Aggressive Umbrella market by Karen Murphy

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Karen Murphy, Commercial & Marine, LLC - Mobile, AL 36602

Reputation: 66 - Total posts: 9

I'm quoting a large Ready Mix operation in TX. I have a very competitive underlying Package quoted but I'm needing a very aggressive Umbrella carrier or carriers to quote a $10m limit. I'm up against Federated and would need to be around $100k premium. I know, that's crazy and impossible but that is what I will need to land the account. Any suggestions would be helpful!

10 year(s) ago

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Christopher Rein, Scottish American - Greenvale, NY 11548

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0 Verified Reviews - 0 of 5.0

Christopher Rein, Scottish American - Greenvale, NY 11548

Reputation: 165 - Total posts: 29

Karen,

I just tried to call but there was no answer. I would love to market this account to some of my umbrella markets. Give me a call when you have a chance.

Chris
[email protected]
631-446-3035

10 year(s) ago

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TeEvans, N/A - Phoenix, AZ 85028

Reputation: 442 - Total posts: 70

Who is the underlying with? I don't usually find a more competitive monoline carrier for the umbrella.

10 year(s) ago

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Nicholas C. Petrillo, IAG Insurance Services - Irvine, CA 92618

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Nicholas C. Petrillo, IAG Insurance Services - Irvine, CA 92618

Reputation: 30 - Total posts: 4

You should be able to purchase a $10million Umbrella from about 18-25K. What needs to be around 100K in premium? The entire package inclusive of the Umbrella?

10 year(s) ago

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Brent Albright, Titan Global Insurance Brokerage Inc - San Diego, CA 92130

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Brent Albright, Titan Global Insurance Brokerage Inc - San Diego, CA 92130

Reputation: 97 - Total posts: 11

Are you trying to get a $10M excess umbrella for $100k in premium?
If so that sounds high.
Please confirm what you are looking for and send email to [email protected], as I can assist.

10 year(s) ago

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JamesD, JVI Group/Total Management - Franklin Sq, NY 11010

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JamesD, JVI Group/Total Management - Franklin Sq, NY 11010

Reputation: 20 - Total posts: 4

Karen,

Did you try Norman Spencer's Readymix Package Program? If not, its worth a phone call.

10 year(s) ago

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Karen Murphy, Commercial & Marine, LLC - Mobile, AL 36602

Reputation: 66 - Total posts: 9

This is for a large ready mix concrete operation with over 100 ready mix heavy trucks and anticipated revenue of $73m. I'm needing a $10m Umbrella for $100k premium and have saturated the market place and can't find a taker for this price. I've got a competitive underlying quote.

10 year(s) ago

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Nicholas C. Petrillo, IAG Insurance Services - Irvine, CA 92618

Reputation: 30 - Total posts: 4

Go to Allianz

10 year(s) ago

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Brent Albright, Titan Global Insurance Brokerage Inc - San Diego, CA 92130

Reputation: 97 - Total posts: 11

Send me the full submission to [email protected], along with markets approached, as I can most likely get this competitively quoted.

10 year(s) ago

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Karen Murphy, Commercial & Marine, LLC - Mobile, AL 36602

Reputation: 66 - Total posts: 9

Hey Nicholas, do you have a contact for Allianz?

10 year(s) ago

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Stephen Pierce, The Maplewood Group Ltd. - Granville, OH 43023

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Stephen Pierce, The Maplewood Group Ltd. - Granville, OH 43023

Reputation: 35 - Total posts: 5

We have written primary and Umbrella for some of the largest ready mix & paving contractors in the U.S.
We should be able to turn this around for you quickly?
Please forward Acords and underlying quote info to [email protected]

10 year(s) ago

1 Verified Reviews - 5 of 5.0

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Karen Murphy, Commercial & Marine, LLC - Mobile, AL 36602

Reputation: 66 - Total posts: 9

Hey Stephen, thank you for your response. I've got the markets saturated with this risk in hopes of getting something competitive. I'm needing to be around $100k or less in premium for a $10m limit writing over a $1m underlying with Technology Insurance (AmTrust). GL is $75k; AL is $135k with 120 Xtra Heavy Trucks (mixers) and the EL is with Texas Mutual. I don't want to waste your time if this is impossible.

10 year(s) ago

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Stephen Pierce, The Maplewood Group Ltd. - Granville, OH 43023

Reputation: 35 - Total posts: 5

We've written a much larger one, with marine exposure.. $10m umbrella for $38K. IF interested , we will need a complete submission with markets already approached.

10 year(s) ago

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Karen Murphy, Commercial & Marine, LLC - Mobile, AL 36602

Reputation: 66 - Total posts: 9

Stephen, if you can get me $38k for a $10m Umbrella on this account then you got the order!!! But, I'm afraid I will have to see it to believe it. I've sent the submission to you and we are pressed for time unfortunately. My underlying quotes are strong. If I don't get them an Umbrella quickly then I'm going to miss the boat.

10 year(s) ago

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TeEvans, N/A - Phoenix, AZ 85028

Reputation: 442 - Total posts: 70

If a carrier is writing this for $38k (2% of underlying per mil) that is just irresponsible.

10 year(s) ago

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Ask Your Peers I need an Aggressive Umbrella market (Closed)