Commercial Lines Carriers

[KIA]

Hey Everyone,

I was hoping maybe some of you might be able to give me some advice. I have an ~$500k commercial book. It is compromised mostly of habitational, offices (medical, law, tech, real estate, consulting, etc), and stores. In addition I have a bunch of commercial auto, workers comp, and contractors.

Here is my current dilemma. My only direct commercial appointment (other than commercial auto) is with Travelers [Other's are either co-brokered or through Surplus]. However, over the last couple of years their appetite has been getting stricter and their prices have been getting significantly larger.

I'm considering dropping Travelers, and picking up 2-3 carriers to serve my current commercial book. With a better appetite and more competitive pricing I should be able to increase the book much more easily as well.

As such, I'm looking for advice on some good carriers to pick up to serve this book. I understand most will want a commitment which is why I'm limiting this to 2-3(max) carriers to split up the current $500k book.

What I'm looking for in carriers is a pretty broad appetite, competitive pricing, and a good system for quoting/issuing.

Any recommendations for me? (I'm in MA)

Thanks so much!

TL;DR: What would you recommend for commercial carriers that do business in MA that have a good appetite and competitive pricing on habitational and office/store risks? Contractors, after-school programs, and workers comp are a big plus. Thank you!

 

[AdvisorsIns]

I think I would keep travelers appointment as carried appetites change all the time. You might need them one day. I would look at The Hartford and maybe Montgomery. Main Street America, , Auto Owners.

 

[blue_wynd]

Redditor? Welcome to the forum.

 

[KIA]

I think I would keep travelers appointment as carried appetites change all the time. You might need them one day. I would look at The Hartford and maybe Montgomery. Main Street America, , Auto Owners.

I've been apprehensive about it for this very reason. I also have them for personal lines and I see the same issues - huge rate increases on already above average prices. The service is great and the people I work with are wonderful, but they're a fit so rarely. Usually, I have to rewrite after a year or two anyway.

Other carriers are giving me incentives to transfer the personal lines books (and I'd probably pick up another PL carrier). As for commercial lines I just find myself losing out on or having to co-broker for less commissions far too often than I'm comfortable with.

What do you like about Montgomery and MSA? Any comments on how they might fit with my criteria?

Thanks for your help!

@blue_wynd: On occassion - and thank you!

 

[best14rates]

What about Zurich and Progressive Progressive can write some GL with the autos and Zurich has a lot of options also Here both Hartford and Travelers are EXCTREMELY high Liberty Mutual has some great stuff too.

 

[AdvisorsIns]

I've been apprehensive about it for this very reason. I also have them for personal lines and I see the same issues - huge rate increases on already above average prices. The service is great and the people I work with are wonderful, but they're a fit so rarely. Usually, I have to rewrite after a year or two anyway. Other carriers are giving me incentives to transfer the personal lines books (and I'd probably pick up another PL carrier). As for commercial lines I just find myself losing out on or having to co-broker for less commissions far too often than I'm comfortable with. What do you like about Montgomery and MSA? Any comments on how they might fit with my criteria? Thanks for your help! @blue_wynd: On occassion - and thank you!

What kind of commercial market are you looking to grow? What kind of businesses do you currently insure? Hartford has been competitive here in SC. I also write with a few other carriers I listed. Just depends on the class your writing.

 

[jason5436]

I am new to commercial insurance on my own. I used to be in the Granite Business and have some contact who are willing to let me quote there business. The Hartford is the only company I have that will write the business that I know of. I have plenty of place to put the commercial auto. I am looking for advice on some carriers to get that will write Granite Fabrication shops. Anyone know who I should get?

 

[AdvisorsIns]

Try liberty mutual. You could definitely get done in a surplus market.

 

[nyc2phi]

Does Utica National write up by you? They may be a good consideration. Other carriers to consider would be Harleysville, Merchants, Hartford, Guard, Tower, ect. All those carter to some of your risks but not one really caters all well

 

[1manshow]

Have you looked at the regional carriers? Seem to be much more stable over the long haul in my agency.