Underwriter's Corner
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Interstate has been your outlet for most classes of for-hire and not for-hire trucking accounts for 40 years. Did you know we can also write your public auto accounts?
We are proud to announce the addition of a new A+ rated carrier for passenger transportation risks. With the addition of this new market, we now have in-house underwriting authority with five A-rated carriers for passenger transportation accounts. We truly are your one-stop shop for public auto!
Here is a sampling of our available classes:
- Limousines
- Charter buses *
- Taxis *
- Social Service
- Non-emergency transport
- Churches
- Daycares
- Amish transport
*Charter Buses and Taxis are available for only Maryland and Pennsylvania at this time but other classes are available in all states.
Please contact me if you have an account that you would like to discuss. You can now submit your public auto through our on-line system for 1-4 power units.
Go to our web-site and choose Broker Tools - Public Auto Application. For larger accounts, please complete any passenger transport application and send with
four years currently valued loss runs to submissions@interstate-insurance.com
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Past Articles Click past article titles to see the whole article.
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Great news! You can quote General Liability for Truckers on our Web rating system. The quote will include taxes and fees. It is a bindable quote and provides an application with the info you provided prefilled. To bind, complete the remainder of the application and send to us with the signed paperwork and your request to bind. It is very easy and straightforward. I hope this helps you write more business with Interstate. Eligibility Highlights
- Up to 20 units (this program is most competitive on 1-4 units)
- Short, Intermediate or Long Haul
- Wide variety of freight including livestock, auto transport, and coal/gravel/sand/logs
- Risks with private terminals
- Risks performing repair work on owned vehicles
Rating/Coverage Highlights
- General Liability rates are based on the number of units
- Non-auditable Policy
- No General Liability deductible
- Defense costs are provided outside the limit of liability
- Excess limits up to $5 million available.
12% Commission if done on-line
How to get started.
- Go to our website at www.interstate-insurance.com
- Click on "We now have instant web quoting"
- Choose your class
- The first time you enter, you will be asked to register. You simply enter your name, email address and a password you choose.
- Follow the screens to complete your quote.
As always you can send us an application if you prefer. Thanks, we appreciate doing business with you.
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Mobile home parks are no longer a double wide nightmare embodied in a country song or inhabited by imaginary creatures of a forgotten scientific experiment.
On the contrary, they have emerged into beautiful manicured developments nestled in the midst of suburbia. They contain not only primary residences, but secondary and vacation homes as well. Owners of these unique homes are very particular about the parks they place their investments in. Owners and managers of the parks want to provide the best possible environment and Interstate has the strong protection required for them.
With an admitted carrier that can offer not only general liability with limits up to $1,000,000 occurrence and $2,000,000 aggregate, but property, crime and umbrella as well, we have the ability to fine tune required coverage to fit the needs of any mobile home park. We can even cover:
- Incidental exposures including offices, pools, playgrounds, club houses, and convenience stores
- Minor road maintenance such as snow removal or lawn maintenance
- Water/septic systems provided they comply with governmental code
Our non admitted market can cover permanent parks that have a limited amount of rental units and/or parks with propane tank refueling facilities.
When you think of mobile home parks -- think Interstate.
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Did you know that there are close to 20,000 VFW Posts in the United States? Do you know how many are in your surrounding area? We guarantee the numbers will surprise you.
In most metropolitan areas, there are over 100 VFW’s in the surrounding 25 mile radius. It doesn’t stop there. Aside from VFW’s there are over 80,000 additional Non Profit Fraternal Clubs and Private Membership Groups across the United States. Eligible risks include: American Legion, Ancient Order of Hibernians, Sons of Italy, Fraternal Order of Eagles, Loyal order of Moose, Protective Order of Elks and Lions Club among others.
We have a product specifically tailored for Fraternal Clubs and Private Membership groups that packages General Liability, Property, Crime, Liquor, Directors & Officers and Employment Practices Liability coverage all through one policy with an A.M. Best rated A++ carrier.
PRODUCT ADVANTAGES:
PACKAGE
- Expanded definition of Bodily Injury to include Mental Anguish or Emotional Distress
- Club members included as Additional Insureds
- Fundraisers and certain special events included at no additional cost
- Assault and Battery available on most risks
- Hired and Nonowned Auto Liability Coverage available
- Optional Value Plus Endorsement
- Optional Equipment Breakdown-includes free boiler inspection if required in your jurisdiction
- No designated premises limitation
LIQUOR LIABILITY
Insured has the option of either Basic or Top Shelf coverage:
- Basic Form features Defense costs inside the limits of liability and an exclusion for Assault or Battery coverage
- Top Shelf provides coverage for Defense costs outside the limits of liability, may provide coverage for Assault or Battery andincludes automatic coverage for the Liquor License holder as an additional insured
- Club members included as Additional Insureds
- Assault & Battery coverage available on most accounts
- Credits available for responsible clubs with a formal third party server awareness training program
DIRECTORS AND OFFICERS
- Separate limits of liability for Directors & Officers (D&O) and Employment Practices Liability (EPL) claims (Note: EPL is an optional coverage, which can be purchased in addition to D&O, but not on a monoline basis.)
- Full Prior Acts Coverage
- Unlimited defense outside the limits
- Unlimited Extended Reporting Period for former Directors & Officers
- Punitive Damages, where insurable by law, included automatically
- Optional fiduciary liability coverage
- Automatically includes third party discrimination and harassment
- Free Human Resources Hotline with unlimited number of calls and no time limits (when EPL is purchased)
Submission Requirements:
Contact us today for a quote.
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CSA 2010 Regulations Will Impact Motor Carriers and Drivers
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Larry DeFrances, Vice President, Transportation Underwriting Manager
larry@interstate-insurance.com
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Background:
CSA 2010, an acronym for Comprehensive Safety Analysis 2010, is an initiative of the Federal Motor Carrier Safety Administration (FMCSA). The ultimate goal of CSA 2010 is to reduce commercial motor vehicle related crashes.
Until recently, SafeStat was the FMCSA’s system of safety measurement. Unfortunately, it was only marginally successful in identifying motor carriers with safety issues as it did not adequately focus on the behaviors known to cause crashes. The associated Compliance Review (CR) program was resource-intensive, thus permitting only limited effectiveness. Under CSA 2010, a new enforcement and compliance model allows the FMCSA to more quickly identify motor carrier and driver safety issues and to intervene sooner. The new CSA 2010 operational model has three major components:
1.) Measurement
2.) Evaluation
3.) Intervention
Measurement: Under the new Safety Measurement System (SMS), which replaced SafeStat, roadside inspection and crash data is collected for motor carriers and drivers. Performance is measured within the following BASICs (Behavior Analysis Safety Improvement Categories):
- Unsafe Driving (moving violations)
- Fatigued Driving (Hours-of-Service violations, fatigued driving)
- Driver Fitness (improperly licensed or medically unqualified)
- Controlled Substances/Alcohol (impaired operation)
- Vehicle Maintenance (failure to properly maintain vehicle)
- Cargo Related (failure to ensure proper loading and securement)
- Crash Indicator (history of crash frequency and/or severity)
Violations and crashes within each of these categories are then measured based on number, severity and date of occurrence, with more recent occurrences being weighted more heavily. Each motor carrier is then placed in a peer group with other motor carriers with similar numbers of inspections. The total measure of each carrier is then determined within the peer group based on a percentile from 0 to 100, with 100 being the worst. This is the motor carrier’s ISS-D score.
Evaluation: Based on the SMS measurements, the FMCSA then makes a Safety Fitness Determination (SFD) of each motor carrier. This is a relative safety fitness measurement which allows the FMCSA to identify which motor carriers are in need of intervention, and what type of intervention is most appropriate.
Intervention: When the FMCSA has identified a particular motor carrier for safety intervention, they will recommend remedies and corrective action, followed by appropriate penalties when necessary. The intervention process may consist of any of the following based on the severity of the situation:
- Early Contact
Warning letter - Letter to motor carrier outlining specific BASIC deficiencies and possible consequences of continued deficiencies. Motor carriers can review and challenge this data (if they wish), or chart a course of corrective action and improvement.
Targeted Roadside Inspections - Based on specific BASIC deficiencies, the motor carrier may be subject to additional scrutiny during subsequent roadside inspections.
- Investigation
Offsite Investigation - If BASIC deficiencies continue, the motor carrier may be required to provide specific documents relating to specific areas of deficiency.
Onsite Investigation - Focused - If the motor carrier does not cooperate and/or resolve the BASIC deficiencies, they may be subject to a focused onsite investigation addressing issues specific to the area(s) of BASIC deficiency. A focused onsite investigation is usually reserved for motor carriers with two or more BASIC deficiencies.
Onsite Investigation - Comprehensive - This investigation is similar to the current Compliance Review (CR) and takes place at the motor carrier’s place of business. A Comprehensive Onsite Investigation is reserved for motor carriers with continued or worsening deficiencies in three or more BASICs, or a fatal crash or complaint.
- Follow-on
Cooperative Safety Plan - Voluntary plan implemented by the motor carrier (in collaboration with the FMCSA) to address areas of deficiency.
Notice of Violation - Formal notice of safety deficiencies from the FMCSA requiring a response from the motor carrier. Used when regulatory violations are severe but do not yet warrant a civil penalty. The motor carrier must provide evidence of corrective action.
Notice of Claim - "Issued when regulatory violations are severe and warrant civil penalties.
Operations Out-of-Service Order - Order requiring the motor carrier to cease all motor vehicle operations.
Impact on motor carriers:
Roadside inspection and crash data for all drivers employed and/or operating on behalf of a motor carrier is reflected in the ISS-D score of the motor carrier. Third party ability to access this data began on 12/1/2010. A motor carrier now has no choice but to attract and retain better performing drivers or risk loss of contracts and increased insurance premiums as their ISS-D score begins to exceed those of their peers.
In order to improve the screening process for a motor carrier hiring a new driver, the FMCSA introduced the Pre-employment Screening Program (PSP). This program, though voluntary, provides the motor carrier with another evaluation tool. Not only does the motor carrier already have the ability to review a motor vehicle record (MVR) and a prior employment history when considering a new driver hire, but they also now have the ability to order a PSP report that will provide five years of crash data and three years of roadside inspection data from the FMCSA for this driver. PSP will be a critical part of a motor carrier’s driver hiring review process moving forward.
While data accumulated by a driver prior to taking employment with a motor carrier will not directly count against the motor carrier and will not be reflected in the motor carrier’s ISS-D score, it could raise a flag for any FMCSA inspector that is reviewing the motor carrier and feels that their hiring standards are questionable. This concern may lead to a more thorough and revealing review of other areas of the motor carrier’s operations. Additionally, this could also lead to legal issues of negligent driver hiring and retention.
Impact on drivers:
While depressed economic conditions over the past few years have forced many drivers out of the trucking industry, new CSA 2010 regulations will further reduce the driver pool. All roadside inspection violation data and crash data will appear on a driver’s record and remain with the driver even when the driver leaves the employment of one motor carrier and moves on to another. Potential motor carrier employers will be increasingly more reluctant to hire a driver with a questionable driving record, so employment prospects will be further reduced for marginal drivers.
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Interstate loves to write property risks. We understand how to underwrite these accounts and we have the markets to get the job done for you. No account is too large or too small.
Please consider us for:
Vacant Property- The current economic situation has resulted in a glut of vacant risks. Most admitted policy forms have vacancy conditions limiting coverage. Are your insureds exposed? Monoline or package options are available. Interstate has a program you can rate and quote in your office.
Protection Class 9 & 10- Producers will sometimes find it difficult to place unprotected risks. We have markets that will consider these exposures with a creative eye. Is your insured paying too much now with another carrier?
Coastal Risks including wind coverage. Also, wind deductible buy backs and excess flood- We write coastal risks in Maryland, Virginia and Delaware. Exposures can be frame and oceanfront. We offer very competitive wind deductibles.
Equipment Breakdown- We have a program with the premier writer of this coverage. This can be written monoline or in conjunction with the property coverage. Every restaurant should consider this a must-have coverage.
Buildings under Renovation- Do you have a risk that started construction and now is requesting coverage and your in-house markets will not consider? Prior starts are not a problem. Coverage is written on a builders risk form. Short term policies can be written for the length of the project.
Recent Successes- Night club, hotel, apartment complex, woodworking shop, coastal builders risk, property manager and large dwelling schedule.
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Why not provide your trucking customers with the value and coverage that they deserve? Many do not carry all of the coverages that they should, or if they do, may be spreading them across multiple carriers. This puts them at risk for possible coverage gaps not to mention complicating the claims process when dealing with multiple carriers and/or overlapping coverages.
In addition, policy retention and loss ratios can improve significantly as a customer moves from a mono-line to a package policy.
With our carriers we can provide package policies for your customers including:
* Cargo * Physical Damage
* Auto Liability * General Liability
Package pricing is competitive and includes:
• Package discounts
• Direct/Agency billing for qualifying accounts
Makes sense - more coverages with one carrier equals better claims management for your customers, and higher renewal retention and revenues for you!
Sandy Beecher, Underwriter
sandy@interstate-insurance.com
1.800.452.0297
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In an effort to keep up with ever changing technological advances, Interstate is implementing a new paperless system, the long term benefits of which will be realized by both Interstate and its retail agents through faster and more efficient service.
One of the first applications implemented with the new paperless system is the ability for you to request endorsements on-line through our web-site (www.interstate-insurance.com). All you have to do is follow four simple steps:
- Obtain a password from Interstate (if you do not already have one) to access your own secure database of insureds.
- Click on “Broker Tools”.
- Click on “Endorsements” and choose the type of endorsement you wish.
- Click “submit” and your request is automatically sent to your Interstate underwriter for processing.
That’s it! If you currently enjoy the benefits of our on-line certificates -- you are going to LOVE on-line endorsements!
If you have any questions on this process, contact your Interstate underwriter.
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What is the definition of a NET? It is an auto or van without emergency lights and sirens, whose principal business is the transportation of those under medical care or the physically disabled (wheelchair bound). This class includes the “for-hire” transportation of the elderly.
We know this is a difficult class of business to place but Interstate can do it. We have the markets, experience, and expertise you need to underwrite this coverage.
Requirements to quote the risk:
- All wheelchair equipped units must have, at least, a four point tie-down restraint system for each wheelchair
- In business, a minimum of one (1) year
- Drivers must have a minimum of two years experience loading & unloading passengers
When submitting a risk we ask that you provide the following information:
- Northland state specific application -- found at www.interstate-insurance.com
- Currently valued company loss runs for past four years
- General Liability coverage in place
- Provide copy of driver training procedures for loading & unloading of patients
Our goal is to write your business! Forward your submissions to submissions@interstate-insurance.com.
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Interstate wants to offer the best coverages for the most competitive rates and make the quoting process fast and easy. But sometimes, a few extra questions will enable our Underwriters to obtain the best pricing terms:
- IFTAs -- Usually at a trucker's fingertips, the (4) four most recent IFTA reports help us determine exact radius as well as their annual mileage and areas of operation.
- COMMERCIAL HISTORY -- Don't always assume new venture! Simply asking about past businesses, working as an owner/operator as opposed to a company driver, prior management experience, and non-trucking insurance histories can all provide extra credits in the rating process.
- LOSS RUNS -- Don't let this scare you! If you know an account is loss free but do not have loss runs in hand, Interstate can usually quote ‘contingent upon’ loss runs showing no activity. We understand that loss runs can take time, but we also do not want to lose out on the ‘extra credits’ some companies give for hard copy loss runs. Normally, they should be received within 30 days of binding.
- DESTINATION CITIES -- Knowing where your trucker is going is half the battle! Make sure you ask your insured what their main delivery points are. This is a crucial piece of information which is often overlooked.
- SHIPPERS -- Asking quick questions about shippers is another good tool to better understand a risk. It is not important that we know who the shippers are. Only that the insured has established shipping contracts, how long the insured has hauled for them, what percent of the time, what commodities, and where (#4).
Don't be afraid to provide extra comments or narratives! We greatly appreciate them, because any additional information we have on a risk can only help us serve you better. Our goal is to write your business! |
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Technology has made it easier than ever to find valuable information about your prospective and current clients. If you do not already have them saved as a favorite you might want to consider adding them.
#6 www.bing.com/maps. You can obtain both an aerial and bird’s eye view of the risk. This is especially helpful for Property schedules with multiple buildings at the same location.
#5 www.machinerytrader.com. This is a great resource for obtaining information about construction equipment. Both new and used equipment is listed for all major manufacturers of construction equipment.
#4 www.google.com/maps. Very similar to Bing.com, but Google provides a Street View. You can get a 360-degree view of the location.
#3 www.bestplaces.net. This is a valuable resource to research the crime in the area of your risk.
Tying for #2 are www.tripadvisor.com and www.yelp.com. Both offer reviews of hotels and restaurants. You can check out whether or not the risk has received favorable or unfavorable reviews.
#1 www.interstate-insurance.com. The Interstate website offers webquoting, online submission of applications, online endorsement change request, online certificates, and much more. Check it out today.
These sites are valuable tools that help you evaluate your risk before you ever send it to the Underwriter. Some of them are also great for generating leads for businesses in the area of your clients. They should help you write more profitable business with Interstate Insurance Management. Please call your Underwriter to discuss any questions you have about the tools we use to evaluate your risk.
Janice Street, P&C Underwriter
janices@interstate-insurance.com
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Here at Interstate we would like to give you more product options to help with your marketing efforts. We have a new product that focuses on providing competitively priced packaged products to Non Profit organizations through an A M Best rated A++ Carrier.
- Available coverages include:
- General Liability
- Property coverage
- Directors & Officers Liability with optional Employment Practices Liability
- Eligible classes of business include:
- Community Associations Package
- Fraternal Clubs
- Storefront/Community Churches
- Social Services
- Special Events
- Additional advantages:
- Low minimum premiums
- Quick quote turnaround time
- One policy for multiple lines of coverage
- Some Products offered on an admitted basis
Contact us for a quote or for further details.
Joe Sirianni, Underwriter
joe@interstate-insurance.com
800-452-0297 x175
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We are excited to report that we have 2 new carriers in our office to write your P & C business. We are now able to offer you even more choices of carriers on your property & casualty accounts.
United States Liability Insurance Group (USLI) is an A++ rated Berkshire Hathaway carrier. They focus on low hazard, low premium property & casualty accounts with competitive premiums, BOPs and admitted products. Turn around time within 24 hrs as long as all necessary underwriting information is provided.
Their most successful products include:
- Childcare with professional liability included and one of the broadest Molestation & Abuse forms in the industry
- Special Events for most events up to 10,000 attendees per day with liquor liability also available as part of the coverage
- Janitorial Services - non auditable policy based on number of full & part time employees; optional available coverage includes Rental Reimbursement, Lost Key Coverage, Property Damage Extension, Contractor Equipment
- Vacant Buildings - no restriction on length of vacancy
- Condominium Associations package includes general liability, crime and Directors & Officers
- Truckers General Liability - based on number of units with new ventures acceptable
- Business Owner Packages with over 200 eligible classes including new ventures, risks with liquor sales, apartment units are also eligible
RSUI is an A rated carrier by AM Best. They provide a wide range of products focusing on small to medium size commercial risks with quick turn around time.
Products offered are:
- Property & inland marine - they will consider Apartment / Condominium risks, Institutional and Public Entity schedules, large corporate and real estate schedules, foreclosed properties, Difference In Conditions, multi-location layered programs, coastal properties, builders risk, Railroads, Radio / TV equipment.
- General Liability - for almost any industry and application including manufacturing & processing, wholesalers, distributors, service, products including new ventures, automotive and non-invasive medical, commercial contractors, restaurant, bars & taverns including limited liquor liability. Their focus is on accounts under $100,000 in premium.
These carriers are an excellent complement to our other carriers providing us with even more opportunities to assist you with your commercial account needs. Give us a call to discuss.
Connie Kennedy, P&C - Underwriter Manager
connie@interstate-insurance.com
(800) 452-0297 x156
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With summer vacations in full swing, everyone is as busy as ever and crunched for time. Here at Interstate, we are still dedicated to providing you with superior and fast service.
In order to help you write business, let us quote your next risk. Can't remember the ways to submit or available markets? Check out the guides below! Ways to submit business:
Available Commercial Auto Markets:
| Northland: |
DE, IN, KY, MD, MI, NJ, OH, PA, VA, WV |
| Maxum: |
IN, MI, OH, PA |
| Canal: |
MD & PA |
| Empire: |
MD, MI, OH, PA, WV |
| Chubb: |
DE, MD, OH, PA, VA, WV |
| Argonaut: |
MD, OH, PA, WV |
| Lloyds of London: |
DE, IN, KY, MD, MI, NJ, OH, PA VA, WV |
| Tower: |
NJ, NY, PA |
| Rockwood: |
MD & PA |
| AESIC: |
IN & OH |
| American Mining: |
PA |
Adrienne Secriskey, Commercial Auto Underwriter
adrienne@interstate-insurance.com
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We are pleased to announce the addition of American Equity Specialty Insurance Company (AESIC) to our list of available truck markets. AESIC is a companion to the Northland Truck Program for harder to place accounts. They offer the same great Loss Control and Claim services that you have come to expect from Northland, and many of the Northland coverage enhancements.
The AESIC Truck Program is designed for independent owner operators and smaller fleets who haul for hire. The program targets drivers who are at least 23 years of age whose driving record makes them ineligible for a standard truck program. Liability, physical damage, cargo, and general liability coverages are available.
Give us a call on your next hard to place submission - we're here to help!
Denny Beecher, Commercial Auto Underwriter
denny@interstate-insurance.com
1 800-452-0297 x135
AESIC is a member of the Travelers Group and carries an A+ Rating from AM Best.
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In this New Year, let Interstate help you write business with ease. With our new and improved online quoting system, you can submit a risk for quoting, check the status and bind coverage all through our website. Interstate will even pre-fill the company application for you once the account is bound! Just follow the simple steps below:
- Visit our website, www.interstate-insurance.com, and login to the broker tools (call me if you need set up with a username and password)
- Complete the Commercial Auto Application, print a copy for your records and hit submit
- 1 to 4 power units
- Auto liability, physical damage and cargo
- Available in PA, VA, MD, DE, OH, NJ, MI, IN, WV, KY
- Receive a quote or response within 24 hours. You can also check the status of your quotes any time (pending, quoted, declined or bound)
- To bind coverage, simply access your account and complete the few simple requirements
- Select the account to bind
- Choose lines of business to bind and make sure the effective date and company are correct
- Hit the "Bind Coverage" button
- A policy number and pre-filled company application will then be emailed to you within the hour for the insured to sign (some application will require a few additional questions to be answered)
Adrienne Secriskey, Underwriter
adrienne@interstate-insurance.com
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In the midst of the financial crisis, many businesses are closing. This is resulting in vacant buildings and Interstate can help with their insurance needs!
We write general liability and property coverage on vacant buildings, vacant dwellings and vacant land located in PA, WV, MD, DE and OH. We have several excellent A rated carriers that we can place your business with including Nautilus, Capitol Specialty, Northfield, Maxum and Lloyds of London. Lloyds of London rates are available on our website www.interstate-insurance.com for a quick indication, however our other carriers may be more competitive in some instances such as protection class 9 & 10. Send us your application today for a quick quote!
For all our carriers, some underwriting requirements for vacant property include:
- Buildings cannot be vacant due to any type of bankruptcy situation.
- Must not have any existing damage.
- Cannot be scheduled for demolition or condemned by local authorities.
Property coverage is generally written on Basic perils and ACV valuation at 80% co-insurance. Any buildings undergoing renovations must be written as a builders risk (contact us for additional information on this type of risk). Policy terms can be as short as one month up to an annual policy.
However long your customer's buildings are vacant, we can help! We are just a quick phone call (or email or fax) away! Contact us to today for pricing.
Melanie Norland - New Business Underwriter
melanie@interstate-insurance.com
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Fall is quickly approaching and with the turn of season, why not turn your eyes to Interstate. We want to be your number one broker for Special Event Liability! Our carriers are not afraid of ghosts and goblins and the things that go bump in the night.... in fact their programs for haunted attractions are quite.... attractive! Many haunting special attractions (both short and long term) operating as fund raisers by schools, churches, civic clubs, jaycees etc are a "treat" for many of our carriers. In addition to haunted houses, other seasonal events such as corn mazes, haunted orchards, amusements, carnivals, fairs, hayrides, pumpkin patches, even bonfires and concession exposures are eligible!
Tinsel and ribbons, mistletoe and stockings......wow.... before we know it, the Winter holiday season will be upon us! Please think of us for your Christmas tree farms/lots, Santa sleigh visits, holiday concerts & parades, etc.
When the snow melts and spring arrives there are many blooming opportunities for special event liability. Please remember our markets are "hungry" for concession stands, easter egg hunts, ice cream socials & picnics. Also, golf tournaments, gun shows, rodeos, fishing tournaments and bicycle racing are just a few other classes we're able to write for you.
And.... When the lazy days of Summer come around again we'll be here to write your summer special events. Street dances, wedding receptions, block parties, concerts, festivals, fire department water fights, fireworks displays, logger competitions, derbies & even dog races are on our list of "hot" classes!
With our friendly, knowledgeable staff and relationships with A+ rated markets..... Let us help you (throughout the whole year) to place business!
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I thought I'd take a couple minutes to expand on a market that not enough agents seem to be familiar with and many seem to have questions about. That market is MAXUM Casualty Insurance Company (referred to as "MAXUM"). MAXUM may ask a couple of questions that others don't ask and look at a risk in a different way, compared to other conventional trucking insurance companies, but they have developed a philosophy that appears to work. I'd like to help you get to know them better.
What is MAXUM looking for? In their own words: MAXUM's target account is a stable, well-run insured with high quality and "happy" drivers due to the more predictable and comfortable nature of routes and loads.
They want to see the accounts where the trucking company is contracted by regular shippers a large majority of the time. When it comes to acceptability, it isn't a matter of whether the radius is local, intermediate, or unlimited so much as they care whether their shippers send them on regular routes (repeated over and over), or "controlled" routes. By controlled routes, we're implying that the insured works with shippers who have some customer base and request deliveries, that must go to those customers when needed. They would not be considered regular routes because there is no regularity with the delivery, but the insured, or insured's driver has, in most cases, been to the customer before. Therefore, they feel familiar to where their destination is, and familiar with the type of loads they take to those destinations. The insured could be dealing with one shipper exclusively, or there could be many shippers. They could have a shipper that sends them out and back or possibly a different shipper gives them a return trip. Sometimes, however, it is one of their regular shippers that gives them an outgoing trip, and then they may pick up a return trip from a broker. The thought process behind this is that one of the best measures of stability is how long the trucker has maintained a relationship with their shippers and brokers. The longer the relationship, the more revenue the trucker generally can earn per mile and the more regular the destinations seem. Maybe this whole thing might be better approached by describing what they're not looking for. They are not interested in the un-established or new trucking company with a relatively new relationship with a freight broker that will invariably send them on irregular routes to and from different cities with no consistency in type of cargo they are asked to haul.
The program is competitive for most non-hazardous dry, refrigerated or flatbed freight.
This is pretty self explanatory. If the account fits with other aspects of the program, it can be competitive for most types of cargo. Their prohibited cargo list is very similar to most other carriers.
MAXUM's best priced risks are well run businesses with a low percentage of replacement drivers hired in the past year. There drivers are afforded the opportunity to make a competitive income by transporting loads with newer rigs on familiar routes.
MAXUM driver guidelines and qualifications are similar to most other companies. The drivers are entered individually in their rating system and the overall quality of the drivers will result in a modification to the premium. Consequently, a higher percentage of "Clean" drivers lead to a lower priced account (all other factors being equal). Furthermore, the presence of a low driver turnover percentage reflects how "happy" the drivers are - since happy drivers don't have as many claims. Of course some of these other factors that make them happy also contribute to fewer claims. A couple of these things are familiar routes (see above) and the newer, average age of tractors or trucks. Familiar routes means they don't do a lot of extra driving being confused, lost and distracted (by continually reading a map). The newer equipment usually means fewer maintenance problems so they don't spend valuable time broken down on the side of the road somewhere away from home.
Some of the other requirements of quoting a MAXUM account:
- Must have quarterly IFTAs on accounts over 5 power units, preferably showing the number of units they represent. (They can quote 1 - 5 unit accounts without IFTA's if we find the regular destination cities and revenue.) Being able to review the most recent IFTA's on a well-run truck account almost always results in MAXUM being able to produce a more competitive quote. Remember, MAXUM pricing is not really predicated by radius of operation as much as miles per truck. They use IFTA's to verify where the insured travels and number of miles per truck. It only stands to reason that the fewer miles they travel, the less exposure to claims they'll have.
- On accounts over 5 units, current year plus 3 prior years of currently valued company loss runs. (Doesn't everyone want these?) On accounts under 5 units without a BI claim in the past 3 years, MAXUM doesn't require loss runs. (Nobody else does that!) MAXUM doesn't get scared off by a large claim if it appears like it was something unusual and unlikely to happen again. In fact, MAXUM pricing varies little on losses of smaller accounts. Their Underwriters don't usually price any additional premium for non-moving or not at-fault accidents (CWP).... Nor do they include animal hits.
- MAXUM Supplemental Application (with any other company's completed application). This supplemental asks those questions which provide the scenario suggested above, such as shippers, routes, use of brokers and so forth.
- The driver list needs to have the name of the driver, the date of birth, the years of driving experience (in the type of vehicle he/she is driving for the insured) and the DATE OF HIRE. This should accompany a current MVR.
Some added features to MAXUM
- The Claims staff is second to none as every claims examiner at MAXUM has many years of experience adjusting trucking losses. Unlike other trucking insurers, you won't find examiners who were moved over from personal lines auto or general liability departments and don't understand the business of the trucker. MAXUM prefers a "boutique approach" to handling claims and uses only the best repair shops and attorneys to make sure the truckers business is not adversely affected by a claim.
- MAXUM offers broad coverage including automatic TEMPORARY REPLACEMENT COVERAGE for physical damage. Unlike other insurers, this means if an insured puts a truck in the shop for service, they can go out and rent a truck and be provided automatic coverage. This is a especially nice feature if the insured also purchases RENTAL REIMBURSEMENT coverage so they incur no out-of-pocket costs
- For 1 and 2 unit accounts, you can add their "MAXUMIZED COVERAGE". This adds coverage for Hired Liability and Cargo coverage ("if any" basis) along with Non-Owned Liability. It also gives you Broadened Rental Reimbursement, Unlimited Earned Freight and Increased Removal Expenses ($50,000 max). Ask your underwriter for more details.
- Non Trucking Liability Coverage is available
- Optional payment plans offered.
So, are you clear on what they are looking for? Well, if not, send it in to us anyway and we'll work with you to get the job done.
We currently write MAXUM in OHIO, Pennsylvania, Indiana and Michigan
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There are a few
things in the insurance industry that seem to remain relatively
predictable:
- Once you feel you completely understand a coverage line or product
it will be changed!
- The marketplace will continue to be cyclical with the soft market
years always outlasting the hard market.
- There are ways to write business with the people that you have had
the opportunity and taken the time to develop relationships with as you know
they will be there for you no matter what the market conditions.
We at Interstate work hard to develop and maintain relationships
with you - our valued agents. We have been here for you for over 37
years diligently providing access to markets that offer the coverages your
insureds need through strong, financially sound carriers. We are not and
have never been a company that jumps in and out of the marketplace.
We
are always looking for new markets that give us the opportunities to open
doors for you to meet the needs of your customers no matter what type of
business they are in. We have recently begun writing with Ironshore
Specialty and United Specialty Insurance Companies for property including
excess flood, inland marine and general liability coverages. These
carriers have a very broad appetite and are a great addition to our current
property and casualty markets.
We want you to know that you can
depend on us to be here for you whether it is 4:55 on a Friday afternoon or if
your insured needs coverage immediately (aka "yesterday"). It is very
easy in todays fast paced electronic world to lose sight of the importance of
relationships with the people that make things happen for you and are there
through thick and thin. People you can count on.
While we
continue to strive to provide you with access to quick and easy processes such
as on line certificates, endorsement requests and applications, please
remember that our knowledgeable, friendly staff are just a phone call away
ready to work with you no matter how simple or complex the account.
Why
not pick up the phone now and give us a call on that account you are currently
working on?
Connie Kennedy, P&C - Underwriter Manager
connie@interstate-insurance.com
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Our agents spoke and Interstate listened!
In the past, submitting endorsement requests could be a frustrating and time consuming process. Interstate is pleased to announce the expansion of our web services to include Online Endorsement Processing that will truly amaze you. This new capability allows agents to complete endorsement requests through our Broker Tools link on our web site. Our IT staff has developed a completely user friendly system that requests just enough information to create the endorsement and get it to the correct person to process.
Once an endorsement is started, the system does all the work. You enter the first few letters of an insured's name and the system automatically displays a matching list of accounts you have placed with us by insured name and policy number. This feature continues throughout the process by allowing you to quickly search and fill in your contact information. We realize many agents use their own systems and/or forms, and we do not want anyone to have to enter information twice. So as an added bonus we offer you a screen to upload your own endorsement forms directly to us.
If you are already set up for our online Broker Tools (Certificates, Applications, Loss Run requests, Safety/Loss Control information, etc.), the endorsements are already available to you. If not, please use the contacts below.
To get set up simply email me:
Kristine Hutzell
Of course, you can always give us a call for immediate assistance. 1-800-452-0297
Other set up contacts include:
Laura Eny
and Chris Daubert
And please do not hesitate to share your feedback - we listen!
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Success - according to Webster's dictionary success means "1). Favorable or desired outcome 2). attainment of wealth, favor or eminence..."
Fast track - also according to Webster's dictionary means "1). To speed up processing, production or construction of in order to meet a goal."
No this is not a grammar/spelling lesson but rather an insight into Interstate Insurance Management's philosophy. We understand that in this fast paced industry, new business must be reviewed and quoted in a timely manner. This in turn results in higher profitability for your agency.
To put a twist on an old saying
"The early agent catches the trucker."
Interstate promises its agents that 1 or 2 unit accounts, needed immediately, will be reviewed and quoted that same day, or at least within 24 hours.
One of the tools that Interstate has implemented to achieve this goal is the capability for agents to enter all quick quote information on our web site and submit with the "click of a button"!
Please keep in mind that all information required on the quick quote is essential in speeding up the quotation process.
Try it out at the top of this page!
Click Applications
Click Interstate Trucker/Commercial Auto Quick Quote
......And you are on your way to SUCCESS!
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Interstate has partnered with Beazley Insurance Company to provide you access to
PRIVATE ENTERPRISE/SMALL BUSINESS. This product offers either Professional
Liability or Management Liability for your clients. Beazley is an Admitted Carrier in
most states. They are A. M. Best rated A VIII.
Professional Liability is available for Technology classes and Miscellaneous Professional
classes. The Technology coverage can be provided for both technology products and
services. Broad professional liability coverage is integrated into the policy, addressing
the need to cover both technology and non-technology professional services. Third Party
Consumer and network liability security coverage for unauthorized access, identity theft,
theft of or destruction of data, denial of service attacks and virus transmission involving
the insured's computer systems can also be provided.
Miscellaneous Professional Liability insurance provides financial protection for errors
and omissions arising from services provided by a wide range of businesses. In addition
to coverage for financial loss arising from negligence in the insured's performance of
professional services, the Beazley policy offers the following key coverage features:
Coverage for contingent bodily injury and property damage offered subject to
underwriting; Coverage for unintended breach of contract; Vicarious liability coverage
for negligence of independent contractors in providing professional and technology
services; Defense of injunctive relief claims; and Defense of claims for fraud, dishonesty,
etc., with innocent insured coverage.
Technology classes generally considered include: Software Companies, System
Integrators, Technology Outsourcers, Technology Consulting, Internet Services and
Combined hardware/software and business services providers. Miscellaneous classes
generally considered include: Management Consultants, Staffing Agencies, Research
Organizations, Outsourcing Companies, Security Consultants, and Lawyers (30+ member
firms).
The applications are available on our website. Product sheets summarizing the coverage
available, target market, and limits are available for your marketing use. Contact your
Underwriter to request one. There is also a more detailed listing of classes generally
considered, as well as those not considered available. It's the perfect tool to help you
identify your market of choice for Professional Liability. Your Underwriter can also
provide this for you.
Keep an eye out for more information about the Management Liability coverage available
in a future issue of the Underwriter's Corner. In the meantime, feel free to discuss this
with your Underwriter.
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As one of the largest transportation general agents in the northeastern United States, Interstate Insurance Management, Inc. represents many of the most highly regarded transportation insurers in the industry. Because we have represented most of these insurers for many years and have cultivated close personal relationships with our company underwriters, we are in a position to identify the best possible combination of coverage and pricing for your transportation risks.
As the market continues to soften, it is imperative that you align yourself with a general agent that can effectively and efficiently search the market for the best home for your clients. As that general agent, Interstate will consider all available markets on your behalf. However, if your client insists on assigning specific markets to specific retail agents, we may be limited in our ability to do the best job for you. While market assignments are an inevitable part of the soft market cycle, we ask that you explain to your clients that you are at a disadvantage as a result of this decision. For example, if you receive Empire as a market assignment for a particular risk and a competing retail agent receives Northland, both of which are represented by Interstate, we will be able to quote only Empire for you even though Northland may be a better fit in this case. It will be even more frustrating for you if Northland ultimately writes the account.
Please understand that Interstate does not control whom the insured chooses to do business with at the retail level, nor do we want to be caught in the middle of this decision. Instead, we feel that our time is better spent doing what we do best - identifying the best price and coverage options for your client. Consequently, when we receive submissions from multiple retail agents representing the same client, we ask that you obtain a signed statement on the client's letterhead clearly identifying your agency as the broker of record and Interstate as the agent of record. We can then approach all of our available markets solely on behalf of your agency. If the insured still chooses to assign specific markets, please make every attempt to procure assignments for all of the transportation insurers on Interstate's extensive list (see below). We are here to help you through the soft market, and we will be here for you in the hard market!
Interstate's Transportation Markets (alphabetically): American Mining, Canal, Colony, Empire Fire & Marine, Lincoln General, Lloyds of London, Maxum, Northland, Rockwood.
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It is that time of year when many of us start to think about things to come and make new years resolutions. Make your resolution to have Interstate Insurance Management be your number one broker!
We have excellent relationships with many companies, both admitted and non-admitted, and we want to write your business for you. Whether it is a restaurant, habitational (including student housing), manufacturing, or a contractors risk, we can help.
We are also able to write BOP coverage on certain classes of business including day cares, beauty salons, restaurants and mercantile operations with premiums as low as $350. The greatest benefit of a BOP is the additional coverages, which are included at no additional charge. These include Business Income and extra expense coverage on an Actual Loss Sustained (ALS) basis, Pollutant Clean up and Removal, EDP Coverage, employee dishonesty, Limited Coverage for Fungus, Wet Rot, Dry Rot and Bacteria and many others.
We have developed great relationships with our companies and work closely with them in this ever-changing marketplace to provide the best possible coverage and pricing. Relationships are important and we want to provide you with the best possible customer service, quick turn around on quotes and a knowledgeable, friendly staff. Our number one priority is YOU and we want to help YOU write business.
As always, don't hesitate to contact us. Interstate is here for YOU!!
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We all face difficult times. As prices erode and competition increases it becomes more and more difficult to write new accounts. Under these conditions timing becomes nearly as important as price in landing a new piece of business. Being the first person to present a quote with a fair price can go a long way toward heading off your competition and getting that business on the books.
All of the companies that we use have certain underwriting requirements that must be met to confirm both pricing and eligibility prior to releasing a quote. That requires information and that is where we need your help..
The more information you can provide up front, fully completed applications, supplements where warranted, loss history, narrative descriptions, web site addresses and so on allow us to get you the best quote in the shortest amount of time. While it may not be possible to provide every thing we need every time, the more information we have the faster we can turn things around for you.
There is a section on our website, (click here), with submission requirements for a number of lines of insurance and classes of business. There is also an extensive library of supplemental applications provided.
We strive to provide you with the best service possible, but we do need your help.
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On a "new venture", since there is no prior loss history to verify the quality of the risk, it's important
for us to have prior employment history to verify the experience of the driver. First example: you
get a call from a seasoned trucker who has been a company employee his entire trucking career. He
now purchases a tractor and wants to go out on his own. This "new venture" is one that we would
like to take a look at. Has the driver always driven the same type of vehicle? Is he familiar with the
routes that he will travel? Find out where he worked for the past 3 years, what type of equipment he
operated, and the dates that he worked there. Getting this information is an important part of the
underwriting process that you, as brokers, need to obtain. We count on you! We have a driver
employment history form that will help you gather that data-just give us a call.
Second example: You get a call from a young man (or woman!) fresh out of truck driving school,
brand new CDL. He has decided that he wants to be an independent owner operator, hauling
produce from Miami. This "new venture" is one that would not be acceptable. Without "over the
road" experience, familiarity with the routes traveled and the equipment being operated, he (or she!)
doesn't qualify for our markets.
Our excellent markets can package all lines for you-liability, physical damage, cargo, and general
liability. Give us a call anytime!
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Few people would argue that price is unimportant when selling insurance policies. Unfortunately, we are all guilty at some time or another of acting as if it is the only thing of importance. Keep in mind that our customers are purchasing financial protection for their business operations, and look to us to provide not only a competitive price, but also proper protection for their business.
None of us live in the least expensive house in our hometown, nor drive the least expensive car that was available on the dealer's lot. Similarly, the least expensive insurance policy is often not the best deal - like a car or home purchase, many times you get exactly what you pay for. We are accustomed in our lifestyles to paying extra for added features and benefits for most purchases - why should insurance purchases be any different? An analysis of our claims book gives a multitude of examples of what was paid in a claim situation, and what could have been paid had the coverages and / or carrier been different. At the time of loss, the policy pricing suddenly means little to the insured - what now becomes of utmost importance are the policy coverages.
Not all policies are created equal. Compare not only the financial strength of the carriers, and their length of time as a commercial coverage writer, but also the policy forms to help determine what is actually the "best deal" for your customers. Look for coverages like the following:
LIABILITY:
- Is Broadened Pollution Coverage included or excluded?
- Is the Radius Limitation Endorsement strict in interpretation, "usual & customary", or is no radius limitation endorsement used at all?
- How are temporary substitute autos handled?
- Are there add-on coverages such as Family Emergency Travel Coverage, or Non-Trucking Coverage for leased owner / operators?
PHYSICAL DAMAGE:
- Does the policy offer Comprehensive or Specified Perils only?
- Is a Combined Deductible included or available?
- Does the carrier pay Towing Expenses after a covered loss? If so, are the towing expenses considered as part of the stated value, or are they offered in addition to the stated value limit?
- Is Financed Value (Gap) Coverage included or available?
CARGO:
- Is a Combined Deductible (w/ phys dam) included or available?
- Does the form include Pollution Coverage, and / or Debris Removal? If so, what limit applies?
- Does the form include Earned Freight Coverage? What limit if so?
- Is Refer Breakdown included? Does a separate, higher deductible apply to this coverage if so?
- Does the policy form contain a Coinsurance Clause?
These are just a few short examples of coverage differentials that exist among carriers and policy forms.
Take for instance an owner / operator who just totaled his rig in an accident. He is facing separate deductibles for the tractor physical damage, the trailer physical damage, and the cargo coverage. In addition, the vehicle is financed to 100% of value, has depreciated 15% since he drove it off the dealer's lot, but still has a near 100% loan balance since the first few months of his payments have gone primarily to interest charges. In addition, the towing company has just presented a $7,500 towing and recovery bill. Will the few hundred dollars premium savings at renewal matter now to this insured? More likely, what will be important is a policy form that includes combined deductibles, gap coverage, and towing paid outside of the stated limit. These coverages can mean $20,000 or so in addition claim payments to the insured in this example.
Price is important, but it should properly be only one factor in the decision process for an insurance purchase. Talk to our underwriters about policy forms and coverages - we will be glad to discuss what is included or available on our quote proposals, and what differences there may be among carriers. Most of all, talk to your insureds - there's no one other than us to deliver this message, and sound advice is what turns short-term purchasers into long-term clients for our agencies.
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