Small Business
Carrier
Small Business Product
Empire Indemnity Insurance Company is part of the Zurich Group, a non-admitted carrier rated "A+" (XV) by A.M. Best Company. The capacity for this program is $10 million.
Product Info
- Five-minute online premium indications
- Limits available up to $10 million
- Minimum TIV: $250,000
- Minimum premium: $2,500
Target Market
- California only
- Total insured values (TIV) from $250,000 to $10 million
- Policy limits from $250,000 to $10 million
- TIV under $5 million must purchase full limits
- TIV $5 million+ can purchase minimum loss limit of 50%
- $2,500 minimum premium
- Per building deductible 5% - 25%. Five deductible options available online with one click
- Minimum deductible $25,000 for TIV under $2.5 million
- Minimum deductible $50,000 for TIV $2.5 million and over
- Inadequate values will be increased to meet Arrowhead s minimum cost per square foot requirements
- Valuation = Replacement cost | BI = Actual loss sustained
- Maximum 20 buildings at any one location
- $150 policy fee / $150 inspection fee
Program Info
Restrictions
- Risks with tuck-under parking, poorer construction types or older construction will immediately be declined
- Location address used to search soils database to determine adequacy of soils
- Soft soil situations or very high liquefaction will prompt declination No TRIPRA (terrorism) coverage provided
- Property age limitations: --Wood frame: 1960 --Reinforced joisted masonry 1965 (concrete block) --Concrete tilt up: 1976 --Reinforced concrete/steel frame: 1970
- All property locations will be inspected to verify submitted information is accurate
- 90% coinsurance clause applicable to personal property, contents, EDP, stock and materials
- 50% minimum earned premium
- Additional coverages available to include: --EQSL, business income (not to exceed 40% of account TIV) --Building ordinance --Coverage for A, B and C is sublimited to 15% of all building values (must be 1980 or newer)
- Single location with multi building restriction
- No single family dwellings
- HOA, apartments and multi-unit condos are accepted
- No vacant properties
- No HOA s that consist of only common area values
This product is available on Arrowhead Exchange
Arrowhead Exchange is our secure online portal where producers can quote and submit new business and service existing policies. This easy-to-use online facility helps streamline new business and post-sale tasks.
Click here to learn more about the benefits of Arrowhead Exchange.
Underwriting Guidelines
How To Quote Online at ArrowheadExchange.com
- Go to ArrowheadExchange.com, select Producer and login
- Select Commercial Earthquake on your left navigation, then click Get a Quote
- Enter underwriting information
- Premium indication will be calculated (including fees)
- Option to print a quote form to present to your client
- Request to bind coverage online. Arrowhead reviews all submissions before coverage can be bound
- Required upon binding:
- Surplus lines information
- Inspection contact and phone
- Mortgage and loss payee info (if applicable)
- Payment terms are the same as our standard program requirements
- An agency check must be received within 30 days of the month which a policy is effective
- Policy issued after binding
- Quotes are good for up to 60 days
NOTE: You cannot bind the same day. You must request to bind the day before you need coverage.
