I thought that you may be interested in a case that was heard a few months ago regarding coverage on a Global Umbrella being asked to drop down where the underlying policy was a) wider in certain coverage areas and b) had an aggregate limit in such an area that was exhausted by a claim.
August 2009 Archives
1. Deal in FACTS not PERCEPTIONS - on many occasions we have marketed a risk to an insurer who was hesitant to commit because of perceptions they had regarding prototype issues - once we addressed these issues with facts, the insurers usually came on board.
Since 2004 JLT's construction unit has been at the forefront of product development in respect of casualty capabilities for residential homebuilders in the US, both custom and tract. We were the first intermediary to successfully encourage excess markets, both in London and Bermuda, to follow form of Zurich's Home Builders' Protective Policy.
This blog was written by Galen Brisbane who worked as a Casualty broker within the Construction Division at JLT, from 2005 to September 2010.
Twelve new insurers and existing carriers improving their game - result: competitive market competing across the board with the local US insurers, no matter the size, type or location of a construction project and especially competitive for heavier type risks.
Continue reading London market gears up for US Builders' Risk growth.
