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Special Section Sponsored by Target Markets Program Administrators Association Fox Point Programs Fox Point Programs is a Delaware-based insurance agency specializing in management liability products. The entity is licensed to do business in all 50 states and has the authority to handle surplus lines transactions in most jurisdictions. All of the insurance carriers that Fox Point represents are rated A or better by A.M. Best. The entity was established in July 2004, to fill a perceived need in the marketplace. “Many small businesses do not recognize the potential liability exposures they face by offering professional services for a fee,” says Albert Holden, manager of the agency. “We have found that most are not interested in the coverage unless it is required as a prerequisite for getting a license. Our own insurance industry even trivializes the product a bit, referring to it as ‘miscellaneous’ errors & omissions. “At Fox Point, we recognize that professional liability insurance is an integral part of any business’s overall risk mitigation strategy. We market the product as ‘universal’ E&O in order to emphasize the importance of the coverage. Through our carrier appointments, we are able to offer professional liability insurance to virtually any business segment.” “Our commitment doesn’t stop at just offering the coverage,” adds Jeremy Theobald, E&O underwriter at Fox Point. “We also recognize the need to make it easily accessible for our agents. For this reason, we have introduced the notion of the quick-quote indication. After supplying skeletal risk demographic information about a company, an agent can receive a non-binding estimate of premium to present to his/her client. We even provide multiple liability limit and retention options. Our Web site contains indication forms that can be completed and mailed or faxed in to us. We have recently developed an online version for faster response time.” According to Al Holden, the agency can provide E&O insurance on a group basis as well. “Having an aggregated block of homogenous business gives us more flexibility in tailoring policy terms, liability limits, and ancillary coverages to fit their unique needs. Trade associations, program administrators, or specialized insurance carriers can benefit from this offering,” he says. Fox Point Programs also administers a book of not-for-profit directors & officers insurance. We see the addition of NFP [not-for-profit] D&O to Fox Point’s product portfolio as a logical extension of our charter to provide insurance options to underserved market niches,” states John Tobelmann, NFP underwriter. “Our focus is on smaller, specialized entities that are either unaware of the risk exposure or are having a difficult time securing insurance through traditional sources. Fox Point has recently been successful in placing D&O coverage for homeowners/condo associations, political action committees, and advocacy groups.” “We also want to help retail agents expand their reach into the not-for-profit D&O arena,” adds John. “Fox Point offers free leads to qualified producers. All we ask in return is that we are utilized as the ‘first market of choice’ when placing the risks. Our Web site also provides numerous tools to assist agents in the sales process. Anyone interested in learning more about Fox Point’s portfolio of products can access their Web site at www.foxpointprg.com. From this site, agents can read about their coverage offerings, download applications and other pertinent information, and make quick-quote submissions online. Inquiries can also be directed to the company via telephone at (800) 499-7242 or through e-mail at information@foxpointprg.com. → |
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