PROPERTY
SUM PROPERTY APPETITE UPDATE
As the commercial property market experiences unprecedented capacity restrictions, we want to update you on our current property capacity, competency and appetite. Please do not hesitate to contact any member of our property team to discuss your placement needs, but please do note our areas of competency and success, as well as constraints and restrictions below.
USUAL TERMS OF TRADE:
- Our capacity varies by risk characteristics but less than $5,000,000 is our usual appetite;
- $2,500 minimum premium;
- 15% commission;
- policy fees may apply
TARGET:
SPECIAL and NON-STANDARD RISKS such as
- PLASTICS - sales, manufacturing, recycling
- WOODWORKERS - cabinet, furniture, boats, truss, pallet BUT NOT wood recycling
- HOSPITALITY - motels, hotels, restaurants, cafés, pubs, bars, nightclubs, exotic
- MANUFACTURERS - Furniture, machine shops, rubber products, low hazard chemicals
- CANNABIS - landlords, cultivators, processors, micro-cannabis, retail, product manufacturers
- VACANT - including fire damaged and industrial
WITHIN APPETITE SUBJECT TO RISK PARTICULARS:
Where being non-renewed by Standard Market
- REALTY - apartments, townhouses, resorts, campgrounds, hangars
- RETAIL SERVICES - Retail plazas, Auto and motorsports sales
- HEALTHCARE - retirement homes, special needs residences, spas, shelters
- RECYLING - scrap metal, plastics, electronics, bottle and glass
- COURSE OF CONSTRUCTION - remote locations, partially started, smaller projects
- INLAND MARINE - CONTRACTORS - general, electrical, etc including stand alone equipment schedules, installation floaters
- NEW VENTURES - R & D, start ups, proto-types
- SUBSCRIPTION POLICIES (non-lead subject to best terms- no split rating) commercial, industrial, and small property schedules
- RECREATION - curling rinks, indoor playgrounds, bowling alleys, zip lines, indoor golf
SORRY, WE CANNOT WRITE:
- FORESTRY, BIOMASS, SAWMILLS
- FARMS, FEED MILLS, CROP COVERAGE, FISH PROCESSING
- OIL AND GAS, MINING, PAPER & WOOD RECYCLING
- AUTO WRECKERS, RUBBER RECLAIMING, GOLF COURSES, PUBLIC STORAGE
- CHURCHES, MARINAS, DAMS, PIERS
- BAILEE COVERAGE, FINE ARTS
- FIREWORKS, EXPLOSIVES, GUNS OR AMMUNITION, AIRBORNE OR WATERBOURNE EQUIPMENT RAILROAD ROLLING STOCK
- PERSONAL LINES - RENTED OR HIGH VALUE DWELLINGS
- GREENHOUSES
- SUBSCRIPTION RISKS > $50MM TIV, PROPERTY SCHEDULES > 5 LOCATIONS
- USA LOCATIONS, EXCESS PROPERTY LAYERS
- BLANKET COC, OR ANY WOOD FRAME > 4 STOREYS
We continue to underwrite each risk on its merits. A complete submission, including a narrative on the marketing situation of the account and goals of your marketing effort, are key contributions to our underwriting process.Thank you as always for your support and collaboration.
A perfect complement to our casualty offerings, we can now offer Property, Inland Marine and Crime covers on most risks. Our appetite includes standard and sub-standard Realty, Hospitality, Leisure, Manufacturing, Construction and Mercantile risks from A to Z. We can bundle these covers with our primary casualty products or write cover standalone.
Features include:
- Up to $5,000,000 in limits on most risks
- Wide variety of coverage forms, including hook and baillee type covers, transportation floaters and much more
- Written on IBC based broad form or Fire & EC wordings, replacement cost available
- Can include Boiler & Machinery and Business Interruption covers
- Modest inspection and policy fees