Private Risk Management, Personal Lines

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Jonathan Cunningham
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1 Private Risk Management, Personal Lines August 24, 2017

2 Intro to Private Risk Management Topics for Today s Discussion: What is Private Risk Management? The HNW PL Insurance Market The Value of an Independent Broker Target Account Profile Coverage Features Common Exclusions and Limitations Personal Excess Liability The Importance of Loss Prevention Claims What to Expect and What to do

3 Broker Perspective Risk Management services directed at High Net Worth Individuals and Families Carrier Perspective Making our members smarter, safer, and more resilient Advisory service that results in a personalized plan to minimize the potential for personal or financial loss. Strong alignment of interests with our membership through a policyholder-owned model Service model offering; Single point of contact Simplified program mgmt. Claims advocacy Delivery of the best service in the industry as a journey without a destination

4 What does High Net Worth mean? $15B Industry massive opportunity remains. Segment has been growing strong since 2008 Outside-the-box exposures Consequences and opportunities of consolidation Passion Investments Most HNW families wan to better protect themselves but either don t have time or know where to start. Emerging issues

5 The Value of Independent Brokers Deep expertise in serving high net worth individuals and families, acting as the trusted advisor for their clients. Serves the Insured in partnership with the Insurers opposed to representing the Insurer. Coverage solutions for all unique exposures of the HNW Access to multiple markets in all states There are more than 30,000 independent brokers and agencies throughout the U.S. PURE has chosen to work with ~700 of the best.

6 Broker Perspective Owns multiple, high value homes Need for K&R, Aviation, Farm/Ranch, yacht, and other specialized products Requires high limit umbrella coverage Carrier Perspective 70,000 responsible, like minded, successful individuals and families $3M+ Dwelling Value High deductibles More cars than drivers Often renovate properties after purchase or builds home from ground-up: COC policies Substantial jewelry, wine and fine art collections Collector vehicles

Excluded Perils may be added back via Endorsement Earthquake Coverage on carrier s own paper with varying deductible and flexible coverage options Unlimited Loss of Use Extended and Guaranteed

7 Excluded Perils may be added back via Endorsement Earthquake Coverage on carrier s own paper with varying deductible and flexible coverage options Unlimited Loss of Use Extended and Guaranteed Replacement Cost Defense Costs outside of Liability Limits Deductible is waived for losses over $50K Loss Prevention Device Coverage Cash-out option Loss prevention Worldwide Liability and Contents Coverage Auto Policies Settle on Agreed Value basis with No Deductible Applied to Glass Claims

8 Flood Earth Movement Fungi/Mold Landscaping Coverage Equipment Breakdown Lost or Stolen Jewelry Sewer & Drain Backup Settlement Type is Important!

9 Majority of Umbrella losses are automobile-related Half of PURE s losses are the result of Youthful Operators (age 16-19) Greater risk for clients who are considered to have a public profile EPLI Coverage and Domestic Workers Excess UM/UIM Not-for-Profit Board Coverage Aligning Pricing with Risk for $10M+ Excess layers

10 Water damage is by far the leading cause of loss at PURE. New devices hitting the market to prevent water loss. Arborist Services PURE CyberSafe Hail-Resistant Roofs Wildfire Protection Services Earthquake Retrofitting and Gas Lines Equipped with Seismic Shut-off Valves

11 Claims: What to Expect and What to do Immediately seek council of your independent broker PURE s what-if service PURE Member Advocate and Claims Service Delivery Loss Prevention coverage following a loss Transparency and Communication throughout the claims process.

12 Protecting Financial Position Life Insurance Long Term Care Insurance Disability Insurance

13 THANK YOU

14 Matthew Smith Aon Private Risk Management Bryan Luker PURE Insurance 425 Market St., Ste 2800 San Francisco, CA Post St, Ste 1025 San Francisco, CA O: C: O: C: Matthew.smith@aon.com bluker@pureinsurance.com

COVERAGE COMPARISON ACE VERSUS FIREMAN S FUND - TEXAS EDITION ACE PRIVATE RISK SERVICES

COVERAGE COMPARISON ACE VERSUS FIREMAN S FUND - TEXAS EDITION ACE PRIVATE RISK SERVICES The following is a representation of the key coverage differences between the Fund Prestige Premier contract, the Texas Bureau Form, and the Portfolio contract in Texas. Please refer to the respective