Apartments/condominiums, the before and after 11/05

Specialty Lines Markets

Apartments/condominiums, the before and after

By Larry G. France

Because input for this article was being assembled prior to Hurricanes Katrina and Rita, we will look at this class of business from a “before and after” viewpoint.

In the last few years, the apartment and condominium market has been reasonably stable. The property rate spike that hit the market after 9/11 tapered off, and new construction in this class reached an all-time high.

Before the hurricanes

Metro Insurance Services’ niche market is primarily the nonstandard apartment business, says Steven Gross, chairman and CEO. “Nonstandard to us is the best of the worst. This includes risks that have been rejected by the standard market due to age, loss experience, subsidies and other reasons.”

According to Gross, rates have continued to soften in the property and casualty areas of the apartment and condo business. “More standard carriers appear to be offering coverage for the best risks; however, it still appears that a large portion of the apartment class still goes to the alternative markets, including RPGs and surplus lines. Condos continue to be written in standard markets. Property rates have dropped at least 50% since 2003, when rates appear to have peaked. In my estimation,” he continues, “property rates are now at levels that they were prior to 9/11 and appear to be stabilizing. I don’t think that business is profitable at these rates and that they will be sustained for very long.”

Underwriters do appear to be a little more disciplined in terms of underwriting criteria and risk selection than in previous softening markets, observes Gross; however, it is still very early in the cycle and the jury is still out on that issue.

“Loss control is still of the utmost importance to this class of business,” Gross observes. “The insured still must be cooperative in responding to loss control recommendations and have interest in upgrading properties on a regular basis. Life safety is of critical importance to the underwriting of apartment and condo business. Obtaining certificates of insurance from independent contractors is essential. This practice helps mitigate numbers of losses through subrogation where the owner has hired a contractor to be responsible for certain areas of their property. Examples are elevator contractors, snow removal, paving and plumbing contractors.”

Willis Programs offers ResortGuard℠, a specialized program for this class of business. According to Linda O’Der, senior vice president and program director of marketing and compliance, property pricing is stabilizing but GL rates continue to rise in order to build toward profitability of that line. Nonprofit D&O capacity, as well as following form umbrella coverage that will drop down over the D&O is readily available.

The American Resort Development Association (ARDA) reports that interval ownership is the fastest growing form of vacation ownership in North America, says O’Der. “This growth is driving the industry toward different and more complex and diverse forms, therefore creating tough risks.”

O’Der says that the trend is toward larger timeshare companies managing many properties in order to offer their customers more vacation choices. These trends create opportunities for the agents and brokers who are able to understand the various structures timeshare companies present.

After the hurricanes

A large percentage of the property on the Mississippi and Alabama coasts was made up of condos, interval ownership/timeshares, and resort-based condos, so this class of business will contribute significantly to the total loss figures. Property loss projections are astronomical. “Guesstimates” place them between $35 billion to $60 billion. It will probably be mid-year before any credible figure will be established.

The condo and apartment sector had been extremely soft in the recent years leading up to Hurricanes Katrina and Rita, mainly owing to the fact that the additional surplus in the industry spawned increased competi-tion among insurers, according to Michael Sillat of WKF&C Agency. “As in any transition from a softening market to a hardening market, it creates opportunities for E&S carriers,” Sillat says. “The traditional carriers begin to unload some of the business and reduce capacity. This, in most cases, is the scenario in a hard market. Simply put, the carriers that stay within their business plan may well be poised to take advantage of a hardening market while those that do not will take steps backwards. Unfortunately for us in the insurance industry, we have never had a ‘normal’ market; it’s either soft or hard.”

Sillat does not see an immediate dramatic impact on pricing but did see accounts renewed with no rate reduction. “As we get closer to the renewal season on the Catastrophic Treaties, expect the high costs of reinsurance to be passed down into primary carriers, thus forcing insurers to increase rates tremendously.”

Sillat foresees that owners will probably have to come to terms with increases in their cost of insurance in the near future as reinsurers pass down rate increases they are faced with post-Katrina. “Unfortunately,” he warns, “this will be compounded by the already significantly increased fuel prices. Owners in turn will probably seek reimbursement of these aforementioned increases in costs by passing them down to tenants via increased rents. Let’s hope for their sakes it is a mild winter. Ironically enough, once again the public will likely blame the ‘greedy’ insurance companies.”

Even before Hurricane Dennis, some carriers placed a moratorium on new property writings until the end of the year, which would indicate that capacity was already used up. Pricing will go upwards. The question is by how much, and how large a geogra-phical region will it encompass?

Upcoming Specialty Market articles include, in December, an overall market review and 2006 preview, Contractors in January, and Watercraft in February.

The following have responded to our survey and indicated that they are a market for apartments/condominiums.

Agency Marketing Services, Inc.
P.O. Box 67218
St. Pete Beach, FL 33736
Contact: John Coe (property/GL), Zac Schuck (condo D&O), Kevin Schuck, Jr. (property managers)
Phone: (800) 542-2805
E-mail: jcoe@agencymarketing.com zschuck@agencymaketing.com kjr@agencymarketing.com
An E&S broker/program admini-strator operating in AL, FL, GA, MS, NC, SC, TN and TX with property limits of $20 million-plus (minimum deductible $1,000; minimum premium $850), GL limits of $5 million (mini-mum deductible $1,000; minimum premium $500), condo D&O limits of $5 million (minimum deductible $1,000; minimum premium $500), and property managers limits of $1 million/$3 million (minimum deductible ($1,000; mini-mum premium $1,000). Property and GL coverage available only in FL. Can offer EPL, umbrella, and tenant discrimination. All carriers are A rated.

All Risks, Ltd., All Risks, LLC
10150 York Rd., 5th Fl.
Hunt Valley, MD 21030
Contact: Deanna Deardorff, Ext. 3017
Phone: (800) 366-5810
Fax: (410) 828-8179
E-mail: ddeardorff@allrisks.com
Web site: www.allrisks.com
California
1000 Broadway, Ste. 320
Oakland, CA 94607
Contact: Dawn D’Onofrio, Ext. 105
Phone: (800) 451-9680
Fax: (510) 452-9293
E-mail: ddonofrio@allrisks.com
Georgia
3930 East Jones Bridge Rd., Ste. 300
Norcross, GA 30090
Contact: Gretchen Smith, Ext. 203
Phone: (800) 323-1044
Fax: (770) 351-9051
E-mail: gsmith@allrisks.com
An MGA/E&S broker that operates in most states with unlimited limits. Will consider all classes. Can offer property, GL, D&O, EPLI, excess, H/NOA, and boiler & machinery. All carriers are A rated.

Aon Specialty Product Network
200 E. Randolph St., 18th Fl.
Chicago, IL 60601
Contact: Call toll-free number.
Phone: (877) 275-2776
E-mail: moreinfo@askaspn.com
Web site: www.askaspn.com
A network that operates in all 50 states with various limits. Target class is community associations. Can offer property/casualty through E&S broker Swett & Crawford, and D&O, fidelity/crime and umbrella through E&S broker Ian H. Graham.

Arlington/Roe & Company, Inc.
P.O. Box 80803
Indianapolis, IN 46280
Contact: Michelle Van Dyke; Angela Cale, Ext. 2423; Shannon Helm, Ext. 2415
Phone: (800) 878-9891, Michelle (317) 554-8610
Fax: (317) 554-8551
An MGA/wholesaler that operates in IL, IN, KY, MI, OH and TN with GL limits of $1 million and property limits of $3 million. Carriers are Nautilus, Capitol Indemnity, Lloyd’s, Northland and Western World.

Arrowhead General Insurance Agency, Inc.
6055 Lusk Blvd.
San Diego, CA 92121
Contact: Call Marketing Operations at Ext. 6931
Phone: (800) 333-5553
Fax: (858) 677-6956
E-mail: dhawes@arrowheadgrp.com
Web site: www.arrowheadagents.com
A program manager operating in AZ, CA, NV, OR, TX and WA with contents coverage available in limits of $10,000, $20,000, $30,000 and $40,000. Target class is non-underwritten renters. Can offer mold coverage in TX with limits of 25%, 50% and 100% of contents coverage for an additional premium; liability coverage limits of $25,000, $50,000 and $100,000 available for an additional premium. In Texas, will not cover more than 4 non-relative residents or more than 6 relative residents and mobile homes. All carriers are admitted and A rated.

Atlantic Specialty Lines, Inc.
9020 Stony Point Pky., Ste. 450
Richmond, VA 23235
Contact: Seth G. Johnson, Greg Provenzo, David Adcock
Phone: (800) 368-2095
Fax: (804) 320-7280
Web site: www.atlanticspecial.com
An MGA/E&S broker that operates in CT, DC, DE, FL, MD, NY and VA with limits of up to $10 million. Will consider all classes including student and subsidized housing. Can offer monoline wind/hail, umbrella/excess, property managers E&O, nonprofit D&O, etc. All carriers are rated A or better.

BAT Insurance Corp.
801 N. Brand Blvd., Ste. 310
Glendale, CA 91203
Contact: Tony Trocino
E-mail: ttrocino@choprainsurance.com
An E&S broker operating in CA only with unlimited limits. Will consider all classes; can offer umbrellas. All admitted and nonadmitted carriers are A rated.

Bohrer, Croxdale & McAdoo, Inc.
P.O. Box 2760
Springfield, MO 65801
Contact: Grace Cumley, Marilyn Foster, Twila Hall
Phone: (800) 779-2550
Fax: (888) 869-2550
E-mail: frontdesk@bcmins.com gcumley@bcmins.com mfoster@bcmins.com thall@bcmins.com
Web site: www.bcmins.com
An MGA that operates in AR, IL, KS, MO and OK with limits of $1 million/$2 million. Will not consider fraternity/sorority housing. Can offer umbrella and D&O (homeowners/condo associations). Various carriers are used to place coverage.

Buckingham Badler Associates, Inc.
286 Richmond Valley Rd.
Staten Island, NY 10309
Contact: Jane Dalli
E-mail: info@bbainsurance.com
Web site: www.bbainsurance.com
An MGA/E&S broker/wholesaler operating in CA, CT, NJ, NY and PA. Target classes are habitational, contractors and umbrellas. Can offer all commercial lines and hard-to-place homeowners. Will not write private passenger auto.

Burns & Wilcox, Ltd.
220 Kaufman Financial Center
Farmington Hills, MI 48334
Phone: (800) 521-1918
Fax: (248) 932-9046
Web site: www.burnsandwilcox.com
An MGA/E&S broker that operates in all states except AK, HI, ME and NY with property limits of $20 million and GL limits of $2 million plus umbrella. Target classes are condos and better apartments. Will not consider subsidized housing. Can offer DIC, tenant discrimination and D&O. Carriers include Lloyd’s, Scottsdale, Essex, Burlington, Colony and USF.

Century Surety Group
P.O. Box 163340
Columbus, OH 43231
Contact: Mark Sowle
Web site: www.centurysurety.com
An insurer that operates in all states except MA, ME, MS and RI with limits of $1 million/$2 million. Target class is apartments/condos. Can offer excess.

Continental/Marmorstein & Malone
P.O. Box 586
305 Route 17
Paramus, NJ 07652
Contact: Bill Malone
Phone: (800) 932-0249
Fax: (201) 261-8922
E-mail: bmalone@ca-group.com
Web site: www.ca-group.com
An MGA/E&S broker that operates in NJ and NY only with casualty limits of $1 million/$2 million and property limits of $100 million. Target classes are condos including coastal locations, co-ops, apartment houses/complexes, and all real estate classes. Can offer condo association liability, D&O and umbrella. Nautilus, USLI, First State, General Star, Lloyd’s, Essex, Western World, Tudor, and Chubb Custom Market are the carriers.

Creative Underwriters Corp.
140 E. Main St.
Carmel, IN 46032
Contact: Doug Setters, Ext. 12; Terrence Baker, Ext. 21; Sandy Faucett, Ext. 19
Phone: (800) 769-4321
Fax: (317) 848-7869
E-mail:
doug@creativeunderwriters.com terrence@creativeunderwriters.com sandy@creativeunderwriters.com
Web site: www.creativeunderwriters.com
An MGA that operates in IL, IN and OH with high limits available. Target classes are high-rise, complexes, and multi-unit conversions. Can offer D&O for condo associations. Scottsdale, Western Heritage, Penn America, Lloyd’s, General Star, and Great American are the carriers.

Crusader Insurance Co.
23251 Mulholland Dr.
Woodland Hills, CA 91364
Contact: Sandra Starks
Phone: (800) 669-9800
Fax: (818) 591-9856
Web site: www.crusaderinsurance.com
An insurer operating in CA only with liability and property limits of up to $2 million. Target class is apartments of 5 units or more. Will not consider condos. Crusader is rated B+.

Delaware Valley Underwriting Agency, Inc.
420 S. York Rd.
Hatboro, PA 19040
Contact: Joel Kaplan
Phone: (800) 388-0215
Fax: (215) 672-7983
E-mail: info@dvua.comkaplan@dvua.com
Web site: www.dvua.com
An E&S wholesaler that operates in GA, KY, NC, NJ, NY, OH, PA, SC and WV with various limits. Target class is non-coastal, frame construc-tion or superior construction. Can offer D&O, umbrella, and excess flood (as available). All admitted and nonadmitted carriers are rated A or better.

The Distinguished Programs Group
6 E. 43rd St.
New York, NY 10017
Contact: James A. Tesoriero, Marc Kaye
Phone: (888) 355-4626
Fax: (917) 438-6610
E-mail: info@distinguished.com
Web site: www.distinguished.com
An MGA that operates nationwide and in Canada with property limits up to $50 million; CGL limits of $1 million/$2 million; and umbrella limits up to $100 million. Target markets are apartments, HOAs, condos, cooperatives, homeowner, PUD, property owner, commercial condos and timeshare associations. Can offer crime, boiler, and D&O. Carriers are AIG-Granite State (A+), Arch (A-), Chubb (A++), and Great American (A).

Excel Insurance Service, Inc.
2099 Pennington Rd.
West Trenton, NJ 08628
Contact: Dennis Pellegrino, Dennis Pellegrino, Jr.
Phone: (877) 530-0111
E-mail: mail@excelins.com
An MGA/E&S broker that operates in NJ and PA only with GL limits of $10 million and unlimited property limits. Target class is apartment/condo. Can offer D&O. Scottsdale and Colony are the carriers.

Gary Markel Surplus Lines Brokerage, Inc.
15950 Bay Vista Dr., Ste. 250
Clearwater, FL 33760
Contact: Paula Ross
Phone: (877) 545-9100
Fax: (727) 540-9600
E-mail: quotes@gmarkelsurplus.com
An E&S broker that operates in FL only with liability and property limits of $25 million. Target classes are subsidized and senior housing. Auto is not written. All carriers are A rated.

Gateway Underwriters Agency
1714 Deer Tracks Trail, Ste. 210
St. Louis, MO 63131
Contact: Mary Beth Fox, Michael L. Ehrhardt
Phone: (800) 325-7652
Fax: (314) 238-0065
E-mail: marybeth.fox@gua-stl.com
michael.ehrhardt@gua-stl.com
submissions@gua-stl.com
Web site: www.gua-stl.com
An MGA that operates in IL, KS, MO, NE and OK with GL limits of $1 million/$2 million plus umbrella; high limits for property. Can offer equipment breakdown. USLI, Nautilus, Western World, Scottsdale, and Indian Harbor are the carriers.

Harry W. Gorst
9310 Topanga Canyon Blvd.
Chatsworth, CA 91311
Contact: Fran Locke, Brian Collins, Randy Scott
Phone: (818) 507-0900
Fax: (818) 507-1133
Web site: www.gorst.com
An MGA/E&S broker that operates in CA only with GL limits of up to $10 million. Target classes are apartment buildings with 5 or more units; and condos, homeowners and other community association types where all development and construction operations have been completed. Will not consider apartment buildings consisting of 4 units or fewer or any risk with a mold loss for which proof cannot be obtained that 100% remediation has occurred. Can also offer earthquake. Scottsdale (A+), Colony (A), Western Heritage (A+), and Markel International (A-) are the carriers.

Hermitage Insurance Co.
1311 Mamaroneck Ave., Ste. 135
White Plains, NY 10605
Contact: Jeff Love
Phone: (914) 683-8008
Fax: (914) 683-8245
An insurer that operates in GA, NJ, NY, PA and RI on an admitted basis and AL, CT, DC, FL, IA, IL, IN, KS, KY, LA, MA, MI, MN, MS, NC, ND, NM, OH, OK, SC, TN, TX, VA, WI and WV on a nonadmitted basis with limits of $1 million/$2 million. Can offer property and liability. Hermitage is a B++ rated carrier.

Hospitality Insurance Solutions
304 Cedar St.
Sterling, CO 80751
Contact: Gregg Dennington
Phone: (866) 286-5889
Fax: (970) 522-7792
E-mail: gdennington@hospitalityins.com
Web site: www.hospitalityins.com
An MGA that operates in all states. Target classes are timeshares and short-term rentals; will not write apartments or FL property. Can offer equipment breakdown, umbrella and crime. The A+ rated carriers are Discover Property & Casualty and Philadelphia.

Hull & Company, Inc.
2150 S. Andrews Ave.
Ft. Lauderdale, FL 33316
Contact: Carl Bartlotti
Phone: (800) 678-4855
Web site: www.hullco.com
St. Petersburg office
Contact: Larry Beller
Phone: (800) 727-4855
NC, SC and VA
Contact: Donna Porter
Phone: (800) 241-4855
TX
Contact: Jack Huff, Carol Gordon, Lori Lemons
Phone: (800) 765-4855
CA
Contact: Jeff Case
Phone: (866) 434-2210, Ext. 224
E-mail: jcase@hullco.com
An E&S broker that operates in CA, FL, NC, SC, TX and VA with limits of up to $25 million. Target classes are condos, townhomes, and homeowners associations. Can offer property, excess property, CGL, umbrellas, HO-6, D&O, and personal articles floaters. Carriers are Empire Indemnity, AIG, Lexington, Colony, Essex, USF&G, USLI, Scottsdale, General Star, Evanston, and Lloyd’s, which are all rated A or above.

Jacobs & Associates
8227 Brecksville Rd.
Brecksville, OH 44141
Contact: Jim Jacobs, Vince Momosor, Lynette Nycz
Phone: (440) 838-1870
Fax: (440) 838-0742
E-mail: jim@jacobsnow.com
Web site: www.jacobsnow.org
An E&S broker operating in OH only with limits of up to $3 million. Target class is apartments under 4 stories. Will not write a high volume of student housing and elderly tenants. Can offer commercial umbrella and property managers. Carriers are Scottsdale, USLI/Mt. Vernon, Western Heritage, Wellington Specialty, and Colony, all rated A+.

Klinger Associates, Inc.
P.O. Box 503526
Indianapolis, IN 46256
Contact: Bob Klinger
Phone: (317) 845-9890
Fax: (317) 845-9800
E-mail: klinger@klinger-insurance.com
An E&S broker that operates in IL, IN, KY and OH with liability limits of $25 million plus umbrella and property limits of $100 million and higher. Target classes are commercial apartments and commercial real estate. No public bidding. Can offer lessor’s risks liability, property, loss of rents, umbrella and others. All carriers are rated A or better.

McLeckie Insurance Group
P.O. Box 770
Naples, TX 75568
Contact: Bill McLeckie, Jason McLeckie
Phone: (877) 905-9090
Fax: (903) 897-0062
E-mail: mcleckie@msn.com
Web site: www.mcleckie.com
An MGA/E&S broker that operates in all states with limits as required. Various admitted and nonadmitted carriers are used to place coverage.

Metcom Excess
P.O. Box 559
Ridgefield Park, NJ 07660
Contact: Sam Khalil, Ext. 341
Phone: (800) 521-1717
E-mail: skhalil@metcomexcess.com
Web site: www.metcomexcess.com
An MGA/E&S broker operating in NJ, NY and PA with limits of $10 million. Target classes are coastal and high-rise. Can offer BI, property, liability, umbrella and boiler & machinery. Various carriers are used to place coverage.

Metro Insurance Services, Inc.
100 Morris Ave.
Springfield, NJ 07081
Contact: Steven R. Gross, Linda Rosenwald, Arthur Petzel
Phone: (973) 467-4467
Fax: (973) 467-4468
E-mail: sgross@metroins.com
Web site: www.metroins.com
A managing underwriter that operates in all states except AK and HI with GL limits of $1 million/$2 million (per-location aggregate offered) and property limits of $25 million per location. Target classes are apartments, apartments with mercantile, and condos. Will not write 100% Section 8. Can offer non-owned auto and ordinance and law. United National (A) and Lloyd’s (A+) are the carriers.

Midlands Management Corp.
3503 N.W. 63rd, Ste. 305
Oklahoma City, OK 73123
Contact: Roger Park, Sonya Purvis
Phone: (800) 800-4007
Fax: (405) 840-5432
E-mail: info@midman.com
Web site: www.midlandsmgt.com
An MGA that operates in OK and the contiguous states with limits of $20 million-plus. Will consider most classes except college/student apartments. Can offer GL. Various carriers are used to place coverage.

NAPCO LLC
333 Thornall St., 9th Fl.
Edison, NJ 08837
Contact: John Pagoumian
Phone: (732) 603-2092
Fax: (732) 516-3192
E-mail: jpagoumian@napcollc.com
Web site: www.napcollc.com
A wholesale broker/reinsurance intermediary that operates in all states (global programs are available) with all-risk limits of $10 million - $1 billion; and wind, flood and earthquake limits available up to $500 million. Target classes are residential and commercial: apartments, condos, HUD of all types, government and Section 8. Can offer property, boiler & machinery, casualty umbrella coverage for all states; can include crime for select states. All carriers are rated A- or better—includes various market channels: standard carriers, reinsurance capacity, surplus lines and London marketplace, as well as various European companies and Bermudian capacity.

NIF Group, Inc./NIF Pro
30 Park Ave.
Manhasset, NY 11030
Contact: See Web site for list of offices or call Marketing at 800#
Phone: (800) 892-8892
Fax: (516) 365-7392
E-mail: marketing@nifgroup.com
Web site: www.nifgroup.com
An MGA/E&S broker that is admitted in all states and nonadmitted in AR, AZ, CO, CT, DC, FL, GA, IL, IN, LA, MA, ME, MI, MN, MO, MS, NC, NH, NJ, NM, NY, OH, PA, RI, TN, TX, UT, VA and WI with limits of $3 million/$3 million. Target class is condo associations. Can offer D&O and umbrella. Carrier is A rated.

NorthCoast Excess & Surplus Agency, Inc.
2244 E. Enterprise Pky.
Twinsburg, OH 44087
Contact: Jeff Burke, Michele Burke
Fax: (330) 405-9893
E-mail: jburke@ncoastxs.com
An E&S broker that operates in OH only with limits of $1 million/$2 million plus umbrella. All carriers are nonadmitted and rated A+.

Pacific Specialty Insurance
P.O. Box 40
Anaheim, CA 92815
Contact: Regional Sales Manager
Phone: (800) 303-5000
Fax: (714) 998-3158
Web site: www.psic-onespot.com
An insurer that operates in CA, GA and TX with Coverage C-Personal Property limits of: HO-4 (CA, GA) minimum $5,000, maximum $100,000; HO-4 (TX) minimum $4,000, maximum $100,000; Coverage C-Personal property limits of: HO-6 (CA, GA) minimum $5,000, maximum $250,000; HO-6 (TX) minimum $4,000, maximum $250,000. Can offer (HO-6 only) Coverage A (Alterations and Improvements) limits. Pacific Specialty is an A rated company.

Philadelphia Insurance Companies
One Bala Plaza, Ste. 100
Bala Cynwyd, PA 19004
Contact: David Brenner
Phone: (800) 873-4552
E-mail: phlysales@phlyins.com
Web site: www.phly.com
An insurer that operates in all states except LA with GL limits of $3 million - $10 million, with umbrella. Target classes are properties that are less than 20 years old, 75% owner occupied, and noncoastal. Will not write commercial condos, timeshares, short-term rental or apartments. Can offer boiler & machinery. Philadelphia Insurance Companies is rated A+, as is Philadelphia Indemnity.

Prime Insurance Syndicate, Inc.
P.O. Box 4439
Sandy, UT 84091
Contact: Any Underwriter
Phone: (877) 243-8181
Fax: (877) 452-6910
E-mail: uda@primeis.com
Web site: www.primeis.com
An insurer that operates in all states with all limits available. Will consider any coverage. Prime Insurance is rated B.

Quaker Special Risk
P.O. Box 415
Sea Girt, NJ 08750
Contact: Frank Walsh
Phone: (800) 447-4180
Fax: (732) 223-9072
E-mail: fwalsh@qsr-insurance.com
Web site: www.quakerspecialrisk.com
An E&S broker that operates in all states with limits of $25 million for property and excess liability, $1 million/$2 million for GL. Can offer coverage for coastal condos, high-rise condos and garden apartments. Indian Harbor, General Star, Mt. Hawley, Chubb Specialty, American Empire, Nautilus, and Penn-American are the carriers.

Robert A. Schneider Agency
5620 Smetana Dr., Ste. 225
Minnetonka, MN 55343
Contact: Sue Karkhoff (liability), Chris Kaarre (property)
Phone: (800) 832-6038
Fax: (952) 938-0701
E-mail: jim@rasinc.com
Web site: www.rasinc.com
An MGA/E&S broker that operates in IA, MN, ND, SD and WI with GL limits of up to $2 million/$2 million (umbrella available) and property limits of up to $100 million. Target classes are (GL) all nonstandard apartments and condos. Will not write property for habitational without pig-tail for aluminum wiring, hazardous waste, operations, monoline earthquake or flood. Can offer D&O, boiler & machinery, equipment floater, fine arts, and accounts receivable/valuable papers. Carriers are (GL) Nautilus (A), Essex (A), Penn Star (A-), Western Heritage (A+); and (property) Chubb, General Star, Investors, EMC, AIG, FLI, and Seneca.

Roush Insurance Services, Inc.
P.O. Box 1060
Noblesville, IN 46061
Contact: Gabe Derzhavets, Scott Sackers, Tony Armor
Phone: (800) 752-8402
Fax: (317) 776-6891
Web site: www.roushins.com
An MGA that operates in IL, IN and OH only with customary GL limits of $5 million and property limits of $15 million (higher limits may be available). Can offer loss of rents and equipment breakdown. Carriers are Scottsdale (A+), Essex (A), Evanston (A), Century Surety (A-) and Atlantic Casualty (A-).

Russell Bond & Co., Inc.
295 Main St., Ste. 866
Buffalo, NY 14203
Contact: Jayme Kralick, Ext. 263
Phone: (800) 333-7226
Fax: (800) 677-6779
E-mail: jkralick@russellbond.com
Web site: www.russellbond.com
An MGA/E&S broker that operates in CT, NJ, NY and PA with primary liability limits of $1 million plus $40 million umbrella; personal property limits of $200,000; and improvements/betterments limits of $100,000. Target classes are risks with claim experience, dog exposures, secondary, seasonal (not rented to others) and co-ops. Can offer umbrella and D&O. All carriers are rated A- or better.

S.H. Smith & Co.
41 N. Main St.
West Hartford, CT 06107
Contact: Jeff Parmenter, Christina Campbell, Earl D’Garro
Phone: (800) 356-0168
Web site: www.shsmith.com
An E&S broker that operates in all states with limits of $1 million/$2 million plus excess. Can offer property and tenant discrimination. All carriers are A rated.

Specialty Programs & Facilities Managers
790 E. Colorado Blvd., Ste. 510
Pasadena, CA 91101
Contact: Jon Rains, Kathleen Turknette
Phone: (626) 395-0850
Fax: (626) 395-0853
Web site: www.specialtyprograms.net
An MGA that operates in AZ, CA and NV with GL limits of $1 million per occurrence/$2 million per location (no deductible), and property limits of $1 billion per occurrence on a master property policy (special form coverage excluding quake and flood, $5,000 deductible). Target class is apartments/condos with 1,000 units or fewer (per insured). Will not write government subsidized housing, low income properties, senior housing, hotels/motels or high rises. Can offer GL that includes hired and NOA, and property with no coinsurance; replacement cost coverage; rental income of actual loss sustained with a 365-day extended period (automatic limits for building ordinance). Carriers are Discover P&C (A-) for property and Alea North American (A) for GL.

Surplus Insurance Brokers Agency, Inc.
P.O. Box 749
South Bend, IN 46624
Contact: Sean Urbanski, Carol Dhoore, Martha Salwin
Phone: (800) 742-5706
Fax: (800) 578-7758
Web site: www.surplusins.com
An MGA that operates in IL and IN only with primary limits of $3 million. Target class is apartments. Scottsdale (A+) and Northfield (A) are the carriers.

Swett & Crawford
21650 Oxnard St., Ste. 1400
Woodland Hills, CA 91367
Contact: Craig Rubin
Phone: (800) 262-6099
E-mail: info@swett.com
Web site: www.swett.com
An MGA/E&S broker that operates in all states with limits as needed. Target class is high limits and/or distressed properties. Can offer GL, excess liability, DIC, property and HOA. All carriers are rated A- or better.

Symons International Group (Florida), Inc.
2300 Glades Rd., Ste. 135E
Boca Raton, FL 33431
Contact: Barbara Berenbaum
Phone: (800) 275-4348
Fax: (561) 392-9719
E-mail: bberenbaum@sigfl.com
An MGA/E&S broker that operates in FL only with limits of $1 million/$2 million. Target class is apartments/condos. Can offer coverage for condo/homeowners associations. Burlington is the carrier.

Western World Insurance Co.
400 Parson’s Pond Dr.
Franklin Lakes, NJ 07417
Contact: Timothy P. Hochkeppel
Phone: (201) 847-8600
Fax: (201) 847-1010
Web site: www.westernworld.com
An insurer that operates in all states with GL limits of $1 million/$2 million and property limits of $500,000. Target class is smaller, lighter risks. Western World is rated A+, as is Tudor.

WKF&C Agency, Inc.
One Huntington Quadrangle, Ste. 2C18
Melville, NY 11747
Contact: Thomas Wilson, Gary Hibbard, Tom Lemire
Phone: (631) 756-3000
Fax: (631) 756-2500
Web site: www.wkfc.com
An MGA that writes property and weather in all states; GL in all states except AK, CA, HI, ND, NH and TX, and wind deductible buy-back (WDBB) in AL, DE, FL, GA, LA, MA, MD, MS, NC, NJ, NY, RI, SC, TX and VA. Property limits are up to $10 million ($25 million in NYC) and up to $75 million (amount subject); weather limits are $2 million and WDBB limits are $500,000. Target markets are apartments and condos. Will not write assisted living. Carriers are: property and GL—Indian Harbor (A+ nonadmitted), property—Greenwich (A+ admitted), weather—St. Paul Travelers (A+), and WDBB—Lloyd’s.

Yates & Associates Insurance Services
2100 E. Fourth St., 2nd Fl.
Santa Ana, CA 92705
Contact: Alex Zardeneta, Linda Peters, Bob Mestayer
Phone: (800) 660-1125
Fax: (800) 378-8588
Web site: www.yates-assoc.com
An MGA that operates in CA only with various limits including excess and umbrella. Will consider all classes. Can offer property, D&O, E&O, DIC, and excess/umbrella liability. All admitted and nonadmitted carriers are A rated. *