Contractors SBU NEXT EXIT

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John Fowler
6 years ago
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1 Contractors SBU NEXT EXIT

2 GPS to CTR SBU Success Getting on the right road Avoiding the dangers along the way Reaching your destination Closing the deal CTR SBU will get you there! Strategy Coverages Value-Added services 2

3 Focused Marketing for 2018 What does that mean? Route options to get to your destination fastest, avoid congested roads, no toll roads Contractors SBU EXPRESS LANE Target Classes Sure! Beyond those Classes Yes! Key Factor Pricing to exposure presented 3

Contractor-Focused Coverages Additional Insured Coverage Options ElitePac General Liability Extension Endorsement (CG 7300) Blanket for ongoing operations applicable to all parties required by the

4 Contractor-Focused Coverages Additional Insured Coverage Options ElitePac General Liability Extension Endorsement (CG 7300) Blanket for ongoing operations applicable to all parties required by the contract on primary and non-contributory basis CG 7921: Additional Insured Completed Operations Blanket for completed operations applicable to all parties required by the contract on primary and non-contributory basis with no time limitation 4 CG 7943 and CG 7944 When the contract calls for arising out of wording Can be project specific or contractor specific

Contractor-Focused Coverages Additional Insured Coverage Options Contracting, Installation, Service & Repair GL Extended ElitePac Endorsement (CG 7988) Provides blanket additional insured on the

5 Contractor-Focused Coverages Additional Insured Coverage Options Contracting, Installation, Service & Repair GL Extended ElitePac Endorsement (CG 7988) Provides blanket additional insured on the basis of the contract requirement ( in whole or in part or arising out of ) Ongoing and completed operations Applies to all parties required by the contract No time limitation on completed operations coverage Cost: 3% of GL premium subject to $750 min. and $2,500 max. 5

Contractor-Focused Coverages Just to name a few more Worksite Damages Limited PD: CCC * $2M/$4M GL limit Electronic Data Liability (EDL) Per Project Aggregate (automatic on every policy) Contractual

6 Contractor-Focused Coverages Just to name a few more Worksite Damages Limited PD: CCC * $2M/$4M GL limit Electronic Data Liability (EDL) Per Project Aggregate (automatic on every policy) Contractual Liability Railroads* OCIP/CCIP (Wrap Up) completed operations and primary and excess gap* OCPs Contractors E&O 3rd Party Notice: COI issuance (IL 7990 and WC ) Umbrella Waiver of Subro included; Primary & Non-contributory available 6 *Included in CISR endorsement

7 Value Added Services Selective s Standardized Contracts Safety Management Services Claim Services 7

8 Types of Contracts Available Subcontractor & Master Subcontractor Master Subcontractor Short Form Purchase Order Agreement Sample Work Order for use with master contracts Increase the value of your services at no cost to your clients 8

Safety Management Services Discount on online OSHA 10 hour & 30 hour Construction Safety Training Contractor s Risk Transfer Review Industrial hygiene testing (air, noise,

9 Safety Management Services Discount on online OSHA 10 hour & 30 hour Construction Safety Training Contractor s Risk Transfer Review Industrial hygiene testing (air, noise, & light) Fleet safety Accident investigations Assistance in developing a loss control program Safety committee training & participation 9 Free safety video lending program

10 Roadside Assistance for Claims Services 10

11 Complimentary Marketing Materials Multi-function tool to help you reach the right audiences with the right materials at the right time Brochures, flyers and direct marketing materials available at no cost Co-branding available on some items 11

12 Straight Through Processing Number of edits reduced, eliminating referral to an underwriter CPP Contractors straight through rate was just under 50% Plans to improve that rate are on the drawing board for 2018! 12

PaySync A cash flow-friendly method for paying eligible Selective workers compensation (WC) and/or commercial package policy (CPP) premiums Advantages include: No down payments or installment

13 PaySync A cash flow-friendly method for paying eligible Selective workers compensation (WC) and/or commercial package policy (CPP) premiums Advantages include: No down payments or installment fees Pay your premium over a full year (for our CPP program, choose between 12, 24, 26, or 52 payments) PaySync is simply another pay plan option, so no special underwriting guidelines apply 13

14 BUMP AHEAD Avoiding Risks Contractual requirements are no problem! Our coverages address all the commonly requested coverage: Broad Additional Insured Forms Per project aggregate Primary & Non-Contributory Waiver of Subrogation 14

Exclusions CG 2243, CG 2279 or CG 2280 Property Damage Exclusion for work

15 Avoiding Risks Exclusionary Endorsements commonly included by other carriers Property Damage Deductible CG 0300 Professional Liability Exclusions CG 2243, CG 2279 or CG 2280 Property Damage Exclusion for work by subcontractors CG 2294 or CG 2295 Contractual Liability Limitations CG 2139 and CG

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17 Our 2017 Segment Leaders $71.6M 2016 DPW (Million) Electrical Work $57.2M $65.4M $70.6M $57.0M Grading & Excavation GC Residential Lawn/Landscape Concrete Work GC Other Carpentry Building Services Special Trade NEC Painting & Paperhanging $20.5M $28.5M $48.5M $40.5M $20.8M

Driving Success through Contractors SBU Pre-Fabricated Building Erection Contractor $57,300 CPP Segment: Pre-Engineered metal building Operations: Erection of metal Butler type structures with 80% in

18 Driving Success through Contractors SBU Pre-Fabricated Building Erection Contractor $57,300 CPP Segment: Pre-Engineered metal building Operations: Erection of metal Butler type structures with 80% in sub-costs Conducted pre-quote survey: SMS spent considerable time with the prospect discussing the importance of strong contract wording and provided a copy of our two master contracts Agency feedback: Insured was appreciative of the time spent discussing their contract and the reasons to make some changes. Decided to move their account to Selective and start using one of our contracts immediately Key to winning the account: Being able to provide a service not offered by other carriers was the key in converting this risk from prospect to insured 18

Driving Success through Contractors SBU Electrical Contractor CPP All Lines Including WC and Umbrella, $160,000 Segment: Electrical wiring within building Operations: Primarily commercial with some

19 Driving Success through Contractors SBU Electrical Contractor CPP All Lines Including WC and Umbrella, $160,000 Segment: Electrical wiring within building Operations: Primarily commercial with some residential interior electrical wiring Account left us for price 2 years ago to go to one our competitors. Forms were deficient and the premium savings were quickly eaten up in charges for multiple Additional Insured endorsements Agency Feedback: Won the account back, at higher premium than the incumbent, because of our CISR endorsement, ability to offer a $2/4M limit and offering PaySync Key to winning account back: Broad, construction focused coverages and billing options 19

20 Certificate Tracking Solution Pilot Looking to bring Value-added solutions to insureds to help them run their business more efficiently and effectively Opportunity to connect insureds who subcontract work with a vendor that will: Track COIs for the insured Analyze COIs to make sure they conform to the insured s insurance requirements Organize COIs on a dashboard portal that is easily accessible to the insured Vendor is RMC Solutions Starting Pilot phase now would like 12 insureds interested in being a part of the pilot Selective pays 100% of the fees for one year! Any agents interested in having an insured involved in pilot contact Paul Anderson PaulR.Anderson@selective.com or (973)

Driving Success through Contractors SBU General Contractor Commercial CPP GL, Auto and IM $110,756 Segment: General Contractor Operations: Specializes in office renovations furniture/fixtures set up

21 Driving Success through Contractors SBU General Contractor Commercial CPP GL, Auto and IM $110,756 Segment: General Contractor Operations: Specializes in office renovations furniture/fixtures set up for offices and light carpentry builds outs with no structural work. Challenges: 30% of their work was conducted in a major metro area. Significant sub exposure (83%). Current contract had minor deficiencies but insured committed to using our contract going forward and submitted executed copies within a few weeks of binding coverage. Agency Feedback: Our commitment to overcome the urban work convinced insured to make the move. Key to winning the account: Plain old fashion underwriting! Don t run from risk understand and price for it! 21

22 Selective is your fast lane for contracting success in 2018 Focused marketing Broad coverage Free standardized subcontractor agreements Quality services 22

Confidential, unpublished property of Selective Insurance Company of America. Use and distribution limited solely to authorized personnel and appointed agents. Do not duplicate or distribute.

23 Confidential, unpublished property of Selective Insurance Company of America. Use and distribution limited solely to authorized personnel and appointed agents. Do not duplicate or distribute Selective Insurance Group, Inc., Branchville, NJ ( Selective ). Products provided by Selective s insurer subsidiaries; insurers and products available vary by jurisdiction. These descriptions are summaries and not offers to sell insurance; the actual policies show complete coverage, exclusions and limitations details. Policy issuance is subject to underwriting approval. 23

PAINTING & POWER WASHING CONTRACTORS UNDERWRITING SUPPLEMENTAL QUESTIONNAIRE

PAINTING & POWER WASHING CONTRACTORS UNDERWRITING SUPPLEMENTAL QUESTIONNAIRE ALL QUESTIONS MUST BE COMPLETED IN ORDER TO REVIEW FOR QUOTATION SECTION I GENERAL INFORMATION Policy Number: Effective Date: