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Contract Binding Operations

Overview

The Contract Binding Operations Unit offers property and casualty coverage on a non-admitted basis, produced by a select number of appointed agents on behalf of Endurance. Our experienced underwriting team is adept at understanding, handling and supporting complex and challenging accounts. This dedicated focus enables us to work with our binding authority agent network to develop programs and provide coverage for unique risks that others will not write, often due to their size.

The Contract Binding Operations Unit targets small to medium-size risks that are traditionally hard to place due to the types of operations or their size. We consider a variety of programs exhibiting a low exposure to frequency and moderate exposure to severity. Our target risks include:

• New entities
• Contractors (general and trade)
• Retail stores
• Lessor's risk
• Packages
• Additional niche product lines

Products

Capacity

Casualty Business

• In-house limits available up to $1M per occurrence/$2M aggregate
• Attachment points will typically be first dollar or over a small deductible

Property Business

 

• We underwrite risks with TIVs of up to $1M per location. This capacity, while generally utilized on a primary basis, may also be utilized on a quota share or first loss basis.
• Earthquake/Flood: We do not write earthquake or flood.
• Wind: In wind exposed areas, deductibles (typically 2% to 10% of TIV, including loss of use) will be used to mitigate exposure and we will generally require brick construction or better

Minimum Premium

• In most states minimum policy premium of $500

Policy Forms

• Generally follow ISO, with additional company-specific exclusions and coverage parts. We provide coverage extensions and/or limitations on manuscript basis.

Underwriting Capabilities

• Highly experienced underwriting team, adept at understanding, handling and supporting complex and challenging accounts
• Limiting appointments to a select number of binding authority agents provides a competitive advantage and promotes long-term relationships
• Service-oriented team provides agents with prompt claims and coverage responses
• All rating, quoting, binding, issuance and endorsements are transacted via our state-of-the-art web portal accessible by our appointed agent network

Account Requirements

• Standard applications and supplements, signed and dated
• 3 years of currently valued carrier loss runs
• Complete outline of all operations
• Timely policy issuance

 

 

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