|
- I've had no claims, why is my premium going up
25%?
- How can I lower my workers' compensation cost?
- What do I do when I have a property claim?
- I started doing commerce over the internet. Do
I need special coverages?
- How do I determine my limits for property
insurance and business interruption?
- What is the time frame to receive a quotation,
as my renewal is coming up?
- How do I start the process of getting an
insurance quote?
- Who will handle my day to day questions and
insurance needs after the effective date?
- I do business overseas. Both my employees and
myself travel on a regular basis.
Does my insurance cover this?
- After you write my insurance how can you help
control my costs?
- Do you cover my type of
business?
I've had no claims, why is my premium
going up 25%?
The insurance industry has aggressively been
pricing business for a number of years at an underwriting loss but
with substantial investment gains. The investment market arena has
changed with substantial increases in losses over and above what
was anticipated. This has caused the insurance market to
re-evaluate its writing to price business with the aim at true
underwriting profits. Accordingly, many markets with under-priced
business have been generating the largest increases to renewal
customers. Other insurance markets who have underwritten more
conservatively over the past years have now come to the forefront
offering more competitive prices with broader coverage than their
less profitable competitors. These are the markets we seek out and
work with at this time.
Top
How can I lower my workers' compensation
cost?
Depending on your size and your locale, the
primary way to lower your workers' compensation cost is to improve
your claims, both on reducing incidences and by properly managing
claims after they take place. There is an array of products
available dealing with claims management, safety and employer
awareness to reduce the impact of claims on your business. There
are insurance products that will offer credits on some programs
and work closely with you.
Top
What do I do when I have a property claim?
Property claims should be reported to your broker and company
immediately. Depending on the type of claim there is a large range
of services that will be offered through us, your broker, to help
present your claim to the insurance carrier for direct damage,
business interruption and extra expense to be sure you will
receive the proper reimbursement/settlement.
It is important to understand that a review of your insurance
exposure and securing the proper insurance prior to your claim is
the most important part of handling a claim.
Top
I started doing commerce over the internet.
Do I need special coverages?
Depending on the nature of your business, there is a broad
selection of internet based type policies available to you ranging
from business interruption, fraud, infringement and third party
liabilities. Coverages are tailor-made to your exposure and can
only be reviewed with a proper professional after a survey audit
to understand your exposures. Top
How do I determine my
limits for property insurance and business interruption?
Both from a financial point of view, and a physical survey audit
will determine the proper amount of insurance for your real and
personal property.
A properly completed worksheet is required and reviewed in order
to determine the business interruption and extra expense needs as
well as what it would take to get you back to full operation at
the time of disaster.
Top
What is the time frame to receive a
quotation, as my renewal is coming up?
In today's environment, the amount of work necessary for
completion by the insured and the broker requires that we work on
a renewal not less than 90 days before anniversary. We need
to analyze the exposures, history and market presentation and
negotiation. Today, most property exposures require inspections
performed by the insurance carriers' engineers that takes time and
to respond to any recommendations, if any.
With engineering reports and inspection recommendations, we will
be capable of maximizing credits and producing the broadest
product with the lowest premium.
Top
How do I start the process of getting an
insurance quote?
Contact our office and we will walk you through the different
processes depending on the line of coverage. We will do a survey
reviewing the exposures for property, liability, automobile,
workers' compensation and all specialty coverages. The initial
meeting may require 2 hours of your time, however, it will be the
basis for which we go forward to produce a comprehensive product
to fit your needs.
Top
Who will handle my day to day questions and
insurance needs after the effective date?
We will have a team of professionals assigned to your account.
There will be a lead account executive that will be your "go to
guy". He or she will have an assistant dealing with certificates,
id cards, etc. There will also be a claims manager assigned to
your account that will be knowledgeable to your service needs.
In addition, the team will present to you reviews of your
insurance on a regular basis. Your account executive will keep you
fully informed as to anticipation of changes in the insurance
market and specific handling of your insurance needs.
Top
I do business overseas. Both my employees
and myself travel on a regular basis. Does my insurance cover
this?
International business requires specialty policies dealing with
employee workers' compensation, repatriation and specific
protection such as kidnap and ransom.
The business that you conduct overseas requires special coverages
that are not picked up under your domestic policy on a regular
basis but can be purchased through an international policy
depending upon the specific needs.
Top
After you write my insurance how can you
help control my costs?
Besides the initial negotiation and structure of your insurance
contracts, the major way to change your future costs is by loss
control and the elimination of claims to your insurance carrier.
"The better your loss ratio, the cheaper your premium". Top
Do you cover my type of business?
We at Herbert L. Jamison & Co., L.L.C. are insurance brokers. Our
business is to place coverage on behalf of our clients with an
array of insurance carriers.
Some insurance carriers have specialty programs that can be
tailor-made to your specific business while other carriers are
more general but broader in scope of the type coverages they
represent. We at Herbert L. Jamison & Co., L.L.C. have the ability
to find the specific market best suited to your needs.
Top
|
