Excess Liability Insurance for Self-Insured Retention and Primary Insurance Programs
Although most public entities buy primary insurance or participate in pools for their liability coverages, some larger entities have the financial resources to retain a significant amount of their losses. When these entities are also willing to manage their own claims handling or hire a claims adjusting firm, they can often save money over several years by self-insuring losses to some threshold and buying excess insurance to apply above the selected loss retention amount. Some public entities who buy primary insurance also want higher limits of liability than their primary insurer can provide.
We help insurance agents for both these types of public entities find excess insurance with insurance carriers that specialize in such coverages. We use only recognized insurers that will meet your financial security requirements.
Our insurers generally prefer a Self-Insured Retention of at least $250,000, although a lower retention may be acceptable for some risks. Limits of up to $10,000,000 are available from our carriers.
A city with 50,000 to 75,000 people or more, school districts with 50,000 or more students and other public entities who are paying $500,000 or more in primary insurance premiums are good candidates for self-insured retention programs.