Our commercial and specialty lines product updates – what you need to know
It’s crucial for our commercial and specialty lines producers to stay in the know, so here are the latest product and program updates – and inside information – that you need.
Everest expands on its California territorial filing for July 1
Everest has expanded its territorial filing parameters for a more detailed zip code review in the state, to better define its territorial filing definitions. Territories that earlier were lumped into a less competitive county rate area are now separated. More territories now have no debits or even credited factors applied. Territories with big positive credited swings you should take advantage of are:
San Bernardino/ West Riverside
Blanket Waiver charges now included in Everest quotes
Effective July 1, we’re amending the way we handle the charge for all Everest quotes that request Blanket Waivers of Subrogation. The charge will now be included in the original quote charges; no longer will we issue the policy, then go back and endorse the Blanket Waiver. The charge now will be reflected in the net rate represented on the quote, allowing producers to include this charge upfront on your quote and deposit requirements. The Blanket Waiver will be included in the net rate, thus spreading its cost over the policy billing cycle (MSR/Installments). Filed charges are two percent of manual premium / $350 minimum.
Questions? Contact your marketing manager for details.
Arrowhead’s new Quake Assist earthquake business interruption program was recently featured in Independent Agent magazine. This innovative new California program provides coverage for business closure due to an earthquake, even if the customer doesn’t incur damage to their property.
- Business Interruption Coverage (including loss in business income and expenses)
- Coverage triggers on business closure, even if no damage occurs
- Daily Limit of Coverage provided up to 90 days of business closure
- Quote and bind instantly online via Arrowhead Exchange
- Direct billing with flexible installment and credit card payment options
- Carrier is rated A.M. Best “A” X (Excellent)
- Review our program summary
As experienced after the Northridge earthquake, businesses may be forced to close whether or not they incur damage to their property and premises. The premises may be inaccessible due to road closures or building, sidewalk and parking issues. Or perhaps supplies are undeliverable, utilities are out or employees can’t come to work.
Quake Assist helps protect the viability of businesses by offsetting any loss of income and expenses from business closure. It provides valuable protection and is great for sales/cross-sales opportunities for your small to medium sized Commercial/BOP customers.
Quake Assist is available on Arrowhead Exchange. Please contact us if you would like to enroll and/or schedule any training on the program and system, 877.233.9722 or [email protected]. You can also contact Craig Justice, (805) 465-6908
Franchised Auto Dealers
If you’re looking for a solution for auto dealers or RV, motorcycle, trailer, agriculture or industrial dealers – look no further. While others have left the market, Arrowhead continues to provide producers access to Harco National Insurance Company. In conjunction with IAT Insurance Group, we offer DealerPack, a broad, multi-line package policy for franchised dealerships. Standard coverages may include:
- Property insurance for buildings, contents, and business interruption
- Liability insurance, including products and completed operations along with discrimination
- Insurance for customers’ vehicles and goods while at the dealership
- Physical damage on inventory* and service vehicles
- Protection against employee dishonesty, depositor’s forgery and other forms of crime
- An Umbrella policy providing excess liability insurance under a variety of situations
* Physical damage on inventory not available for Franchised Auto and RV Dealers
Please note: If your clients are currently placed with Harco, existing Harco policies can continue coverage with a signed BOR.
Arrowhead’s Automotive Aftermarket Program includes many coverages expressly designed for the aftermarket industry. As an industry leader, we include many coverages that others exclude:
Employee Tools Coverage
Most commercial packages offer the option to buy a specific amount of employee tool coverage or provide a small sub-limit. This coverage is automatically included in the property limits, helping employees quickly get back to work and generate revenue.
Business Income Actual Loss Sustained
Our policy includes Business Income and Extra Expense – actual loss sustained up to 12 months after suffering a covered loss. Policyholders can pay and retain employees and meet ongoing expenses until the shop is up and running again.
On most basic garage policies, only the resulting damage from an error or omission is covered — not the actual product being worked on. Arrowhead goes beyond, fully protecting policyholders in the event of a costly mistake.
Don’t forget we cover 600+ class codes with our BOP and Advantage Program. Our top SIC descriptions lately: condo associations, restaurants, real property lessors, trade contractors, hotels and flowers/florist supplies. Learn the latest in our June newsletter.