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What is Schinnerer's targeted market?
Schinnerer's targeted market is small to medium size Property & Casualty Agents with up to $25 million in premium volume. At least 60% of premium volume and revenue must be derived from the sale of property & casualty products for a commission. Some claim history is acceptable and is evaluated on a case-by-case basis. Agents must be located in states in which our program has been filed and approved. No more than 35% of premium written can be in Specialty Lines.
How does Schinnerer define "Specialty Lines?"
For purposes of this program, Schinnerer considers Specialty Lines to include the following types of placements: Aviation, Bonds, Professional and Management Liability, Energy, Oil & Gas, Pollution, Entertainment, Animal/Livestock Mortality, Long Haul Trucking, Medical Malpractice, Substandard Business/Assigned Risk Pools (Auto, Property, Homeowners, etc.) and Specialty Marine (coverages not typically included with package policies).
What agencies are not eligible for Schinnerer's program?
There are certain exposures that are inconsistent with Schinnerer's target focus, and therefore agencies with the following exposures are ineligible for our program:
- Agents with more than 35% of premium volume (in aggregate) derived from placing business as a wholesale broker, as a surplus lines broker, on surplus lines, or specialty lines or placements through a wholesale broker.
- Agents with any premium volume in the following states: Florida, Georgia, North Carolina, Texas, Louisiana, and California.
- Agents who predominantly sell Life, Accident, and Health products.
- Agents placing coverage for high profile clients or Fortune 500 companies.
- Agents with any operations in the capacity of Managing General Agent, Reinsurance Broker, Third Party Administrator, Claim Administrator, or providing legal, accounting, or tax preparation advice.
- Agents located in a state in which our program has not yet been filed or approved by the appropriate insurance regulatory authority.
Who can access Schinnerer's Insurance Agents and Brokers program?
Schinnerer writes business on an open brokerage basis. Any appropriately licensed property and casualty agent may place business with us and access this program. We do not have agency appointments or contracts. License information is required in order to bind coverage.
With what carrier is Schinnerer placing coverage for this program?
Schinnerer has partnered with General Star Management Company, a wholly owned subsidiary of General Reinsurance Corporation and a member of the Berkshire Hathaway Insurance Group. Coverage is provided on admitted paper through General Star National Insurance Company (General Star Indemnity Company in CT) rated A++ by A.M. Best and AAA by Standard & Poor's. For more information about General Star Management Company, please visit www.generalstar.com.
What coverage features distinguish Schinnerer's program in the marketplace?
Schinnerer's claims-made policy is written on A++ admitted paper and provides coverage for wrongful acts committed anywhere in the world in the rendering or failure to render professional services. Professional services is broadly defined to include notary services and obtaining premium financing for insured customers, as well as teaching continuing education courses, in addition to placing insurance and proving insurance consultations. The policy includes provisions for both predecessor and successor agencies. Coverage is available for prior acts and insolvency (for placements with carriers rated B+ or better by A. M. Best) to agencies that meet our underwriting qualifications. Other available options include defense outside the limits of liability and coverage for the sale of mutual funds.
Deductible options start at $2,500 per claim/$7,500 aggregate with limits offered up to $2 million dollars.
Is Schinnerer's product offered on an admitted basis?
Yes. Schinnerer's program is written on admitted, A++ paper, filed in through General Star National Insurance Company (General Star Indemnity Company in CT), members of the Berkshire Hathaway Insurance Group.
What are the benefits of placing coverage through Schinnerer?
Our coverage has been tailored to meet the specific needs of small to medium sized property & casualty agents. With over 60 years in the business, Schinnerer understands the exposures our industry professionals face. For over 40 years we've been a leader in the underwriting management business, specializing in professional liability. And we've selected a carrier partner with superior financial backing (A++) to provide a long-term, stable market solution.
How can I get a quote from Schinnerer?
For a bindable quote, a completed and signed Schinnerer application (including any required supplements or attachments) must be submitted. We can provide you with a non-binding indication based on an unsigned Schinnerer application or another carrier's application, subject to receipt and acceptable underwriting review a completed and signed Schinnerer application and any additional information required.
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