Archive for July, 2015

Equipment Floater from UIG

July 13, 2015 by Jenn State

Whether your client is a large multinational or a middle- to small-market equipment contractor, UIG offers a diversified range of property, casualty and specialty insurance worldwide.

Here’s what you can expect:

Blanket Miscellaneous Tools and Equipment
Blanket Property Limit Available
Leased/Rented Equipment to (from) Others
Rental Reimbursement Coverage Available
Newly Acquired Equipment

ACCEPTABLE CLASSES OF BUSINESS

Contractor’s Equipment

Excavation Contractor
Grading Contractor
Paving Contractor
Landscaping Contractor
Plumbing Contractor
HVAC Contractor
Electrical Contractor
Specialty Contractor

Miscellaneous Property Floater

Mobile Office Equipment
Concession Equipment
Catering Equipment
Medical Equipment
Golf Carts
Recreational Property
Entertainment Equipment
And many others

MISCELLANEOUS PROPERTY FLOATER

Examples of Acceptable Items

Amusement Park Equipment
ATM’s
Bounce Houses
Cameras
Disc Jockey Equipment
Food Trucks
Generators
Golf Carts
Mobile Medical Diagnostic Equipment
Mobile MRI Equipment
Non-Residential Trailers

Examples of Prohibited Items

Art Collections
Clothing
Coins
Firearms
Furs
High-Value Electronics (>$50K)
Jewelry
Stamp Collections

COMPETITIVE PRICING

Pricing starting as low as $575

When it’s your client’s job to be on the road, it’s your job to help keep them there.

July 02, 2015 by Jenn State

Let UIG help. Here’s what you can expect from our Specialty Auto coverage:

Business Auto Liability
Garage Keeper Legal Liability
Physical Damage
Hired and Non-Owned
Uninsured/Underinsured Motorist
Following Form Higher Limits of Liability

Policy limits and deductibles:

$100,000 to $1,000,000 on Primary Auto
$4 million additional coverage limits are available ($5 million total)
First dollar and deductible programs are available on AL policy
Minimum Auto Liability Deductibles start at $2,500
Physical Damage Coverage must have at least a $1,000 deductible

Minimum premium:

$10,000

Target classes:

Commercial specialty auto insurance fleets — private passenger, light, medium, heavy or extra heavy – that are used in following industry segments:

Healthcare — hospitals, ambulance, couriers, mental health facilities
Construction
Manufacturing
Communications
Wholesalers and Distributors
Retail Trades
Financial Institutions
Real Estate Companies (i.e. REITS)
Miscellaneous Services
Public Administration
Overseas Parents Corp. with US-based operations
Dump Operations > 50 Power
Units

Areas of emphasis:

HNOA

Hired & Non-Owned Exposures (Stand Alone & Bundled) — i.e. Hospitals with visiting nurses, couriers with independent contractor exposure.
No food delivery

Extra Heavy Units

Owned units, carrying owned goods, portion of the fleet or entire fleet — many “standard markets” avoid this exposure.

Other Lines in a Specialty Market

Other lines are in captive or in a specialty market. (i.e. engineering firms, aircraft parts)

Long haul exposure

Owned fleets with a long haul exposure, portion of the fleet or entire fleet – many “standard markets” avoid this exposure.

Symbol 10 or manuscript

Symbol 10 or manuscript wording needed to tailor the coverage to a unique situation.

Large sales fleets

In many cases, the WC and auto are the only coverages that need to be purchased in the US.

Public livery

Fleets with “incidental” public transport — (i.e. colleges, hospital with non-emergency transport)
No assisted living

Flexible driver guidelines

Driver(s) do not meet “standard market” driver guidelines—our guidelines are more flexible than many “standard markets”.

Large loss

Incumbent carrier took a large loss and does not want to renew, but otherwise the experience and controls are good.

Unique Equipment

Fleet where a portion of the units have unique equipment attached to the power unit. (i.e. industrial vacuum trucks, welding units)

To find out more about what UIG can do for you drop us a line at info@uigusa.com. Also, feel free to connect with us on LinkedIn and join our Young Agent’s Group.