Remove Marine Remove Policy Remove Underwriting
article thumbnail

What is a Managing General Agent (MGA) in Insurance?

Distinguished

A Managing General Agent (MGA) is a specialized type of insurance intermediary that has underwriting authority granted by an insurer. Unlike agents or brokers, MGAs can bind coverage, price policies, and handle claims they essentially act as an extension of an insurer. How do MGAs Differ From Insurance Brokers?

Agents 52
article thumbnail

Insurance for Apartment Building Owners: Protecting Your Client’s Investments With the Right Coverage

Distinguished

Not only are they insured in the event of a covered risk, but they can also sleep well at night knowing they have a policy limit that is high enough to cover whatever gets thrown their way. These include $1 million in personal liability, coverage for personal contents, inland marine for scheduled valuables, and additional living expenses.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Protecting Fine Art, Collectibles in California

Distinguished

Unlike competitors retreating from the market due to aggregation risks, our Fine Art and Collectibles insurance program brings fresh capacity and a willingness to underwrite policies tailored to Californias unique challenges. Many carriers encourage clients to insure their collections with specific Fine Art and Collectibles policies.

article thumbnail

Hotel Primary Insurance: A Check-In to Success for Insurance Brokers

Distinguished

Hear from industry experts as they discuss critical differences in Hotel Primary policies and key risks to consider. Underwriters with hospitality industry knowledge and expertise. A: No, our policy does not exclude human trafficking. Our underwriters will look at the security the hotel has in place.

article thumbnail

Builder’s Risk Insurance in Michigan: Online Quotes, Coverages, and Costs 

Distinguished

However, a general rule of thumb for Builder’s Risk is to expect a policy to cost anywhere from 1-5% of the total project cost. Who Needs to be Insured by a Builder’s Risk Policy? Developers : In larger commercial projects, developers need to be included on the policy. Access our online Broker Portal.

Risk 52
article thumbnail

Broker FAQ: How to Bind a Quote for City and New York Brick & Brownstone Programs

Distinguished

Follow the steps below to bind your policy: Step 1: Log into the new portal Access the Broker Connect portal here. Step 9: Bind your policy Click Bind to finalize your policy. If there are NO pre-bind subjectivities (other than a signed application), you will receive the policy and invoice shortly. Step 10: Youre all set!

Broker 52
article thumbnail

Builder’s Risk Insurance Declinations: An Interview With Susan DeCarlo

Distinguished

If we are comfortable with our exposure, we may consider increasing the AOP deductible and the theft deductible , depending on the underwriting analysis. Are there any emerging trends in the construction industry that are impacting builder’s risk underwriting? We bound the policy for a six-month term, and the premium was $1,300.

Risk 52