New at Arrowhead this quarter: More specialty programs 

Additional specialty programs have been the focus of Arrowhead in second quarter 2017. We recently announced our joint work with QBE to begin rolling out Arrowhead Core Commercial, focused on small commercial needs, and our acquisition of TriCoast Insurance Services, LLC to expand our residential earthquake program. Prior to those announcements, we introduced earlier in the quarter four more specialty programs. Three of these moved from our subsidiary OnPoint Underwriting – LIBRIS Booksellers, Builders & Contractors and Managed Care – providing better economies of scale and savings in licensing and other fees. The fourth program, Automotive Aftermarket Express, is a program now open to new appointed producers. Here are more details on each.

 

Automotive Aftermarket Express Package 

Previously known as Universal Underwriters, this Commercial Package (property, GL, auto, garagekeeper's liability and umbrella) is now open to independent agencies and is designed to support preferred classes of business within the aftermarket industry. Teamed up with Zurich, rated A+ (XV) by A.M. Best, we now offer this same program with an online platform to rate, quote and bind accounts below $50,000.  Targeted classes include auto body and mechanical repair shops, glass, brake and muffler shops, tire stores and more. Eligible accounts below $50k can be rated, quoted and bound online via ArrowheadExchange

Coverage highlights include:

  • Business auto liability and physical damage
  • Crime – employee dishonesty, forgery or alteration, money and securities
  • Equipment breakdown coverage
  • Garage keepers – direct or legal liability basis
  • General liability and employee benefits liability
  • Property coverage extensions
  • Umbrella liability – excess and umbrella

"We actually opened this program to new producers late last year, and it’s been extremely successful," explained Tom Kussurelis, Arrowhead’s chief marketing officer. "We offer direct bill options plus online training for newly contracted producers. And yes, we are openly onboarding new producers!"

"The product has worked well for large and small agencies, and it’s creating quite a stir in the marketplace," explained Steve Goebel, business development manager. "Some agencies tell us they have all the markets they need; they get quite a surprise when one of their accounts is rewritten to our program by another smaller agency who has added our Express product. Because there are no BORs for this program, there's no way for the former agency to get that client back (outside of writing it with another program).

"So the lesson is, don’t pass on this opportunity to get access to one of the most competitive automotive services insurance products on the marketplace right now!" he added.

Learn more about Auto Aftermarket Express.

 

LIBRIS Booksellers 

Formed by the American Booksellers Association (ABA), LIBRIS was created expressly for bookstores and is backed by “A” rated carriers. For 20 years, LIBRIS (League of Independent Book Retailer Insurance Services) has offered comprehensive protection for independent booksellers.

Coverage highlights are:

  • Specializing in general liability including business personal property policies
  • $2 million per each occurrence / $4 million aggregate liability limits
  • $2 million personal and advertising injury
  • 100 percent loss coverage for up to 12-month business interruption
  • Additional coverage includes workers' compensation, commercial auto, umbrella and property policies
  • Wide range of deductible options 
  • Additional coverage via SafePak:
    • Business personal property seasonal increase of 25 percent of limit
    • New store benefit
    • Coverage for visiting authors
    • Website/computer coverage
    • Used book benefit
    • $100,000 employee dishonesty

“OnPoint, and now Arrowhead, have worked with LIBRIS and the ABA for many years,” explained Judi Yacovazzi, production underwriter.  “Producers tell us their bookseller clients love us for our service, added features and competitive costs.“New producers are always welcome,” she added. “We quote and, if coverage is bound, producers will need to sign an agency agreement, provide a copy of their E&O, send a W9 and resident license. We usually ask for this at binding.” Learn more about the LIBRIS program here. 

 

Builders and Contractors  

Arrowhead's innovative risk management solutions for building professionals in the construction industry are provided by the risk retention group Golden Insurance Company. This risk retention group offers excess liability and primary commercial general liability exclusive to homebuilders, contractors, remodelers and artisans, available through contracted independent agencies.

Coverage highlights include:

  • Primary commercial general liability insurance at $1M/$1M or $2M/$2M for aggregate and occurrence on claims-made basis
  • Excess limits available
  • Products and completed operations are included in aggregate at the $1M limits, as well as personal and advertising injury
  • High deductibles available
  • A blanket additional insured endorsement is also available
  • Minimum premium for most industries is $3,500. Minimum premium for general contractors is $5,000. Excess liability minimum premium is $2,000.

"Since 2001, the risk retention group Golden Insurance, working with OnPoint and now Arrowhead, have provided risk management solutions that are both innovative and customized to the homebuilding industry," said Janet Walker, senior underwriter. "We are open to new producers in all states except New York." Learn more on their Builders and Contractors product page.

 

Managed Care

Another program migrated from OnPoint to Arrowhead, the Managed Care program provides protection to HMOs, providers and employers for catastrophic health care costs associated with a member within their at-risk population. 

Program highlights include:

  • ESL Programs with low enrollment and specific deductible amounts
  • HMO and PEL minimum premium of $150,000
  • Willing to put up to 70% of expected premium into the ASD
  • No average daily maximum or ‘lesser of’ policy language 
  • Different policy terms available
  • Coverage available for HMO, provider groups and employers who participate in healthcare risk

"We prefer a simple ‘amount paid’ policy basis and are comfortable with aggregating specific deductible (ASD) approaches," explained Carl Phillips, program manager. "This delivers broader coverage and benefits without increasing the downside risk." Learn more about the Managed Care program.