Global Intermediaries » Excess Liability Insurance http://www.globalre-int.com Public Entity Wholesale Insurance Wed, 18 May 2011 23:02:43 +0000 en hourly 1 http://wordpress.org/?v=3.1.1 March/April Newsletter – XS Liability Market Conditions – Avoiding EPL Claims http://www.globalre-int.com/newsletter/marchapril-newsletter-xs-liability-market-conditions-avoiding-epl-claims/ http://www.globalre-int.com/newsletter/marchapril-newsletter-xs-liability-market-conditions-avoiding-epl-claims/#comments Fri, 08 Apr 2011 19:23:41 +0000 GIE http://www.globalre-int.com/?p=1208

 
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Wholesale Public Entity Insurance

Visit www.globalre-int.com
March/April Newsletter
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Excess Liability Market Conditions

Excess Liability Market Conditions – Hard or Soft? Select or Not So Select?

Depending on the account, the excess liability insurance market can feel very hard or very soft right now. I know that sounds strange, but it’s true!

Global Intermediaries just worked on a large county in the Northeast where the expiring carrier came back with a 33% increase due to loss activity. We eventually stimulated competition and brought the increase down to 17%, but it was still an increase. On the other hand, one of our recent Northwest accounts received an unsolicited quote from a newer market that didn’t even receive a submission!

The difference here is simple. Both public entities had different account profiles, specifically the loss ratios and the tort environments. It appears that the markets are gaining intelligence and cherry picking the “select”, loss free, accounts and going after them with gusto, whereas loss laden accounts are seeing increases. This new approach is a departure from our old thoughts of risk diversion and adverse selection, where markets applied the same rate to similar accounts, independent of loss ratios.

What does this mean for public entity insurance?

With the help of GIE, public entities and their brokers will need to determine if they fall into a “Select” program or a “loss laden” program. Select accounts will be largely loss free and will benefit from great coverage and a premium decrease. Loss laden accounts will have to work harder, with a more creative approach to the marketplace. No matter where your account stands, Global Intermediaries is here to help you and your agent plan the best marketing strategy; be it Select or Not So Select.

***One of the new items we’re working on is a stable rate product for Select accounts.  If you would be interested in such a product, please contact us and we’ll include your thoughts in our market approach.
Recent Public Entity News

Global Intermediaries wants to make sure all of our contacts stay informed of what's going in the Public Entity World. Below you'll find articles and studies relative to achieving that goal.

EPL Claims – Is there a way to avoid them altogether?

Civil Service and Joint Labor/Union Boards provide an efficient alternative for employment grievances.

April 7th, 2011 – Employment related practices (EPL) claims are among the largest and most catastrophic claims facing public entities today. Verdicts can be virtually unlimited due to the fact that most claims can be filed as Federal, Section 1983 claims, effectively eliminating any state tort statutes. Read More…

Low Self-Insured Retention vs. High Policy Limits

What’s More Important? A Low SIR or High Policy Limits?

February 16th, 2011 – In today’s volatile public entity insurance marketplace I find myself regularly answering this question. Everyone jumps to “stability”, and public entities believe stability means grabbing hold of your SIR and not letting go. Read More…
     
2011 PRIMA Fun Run
Prima_funrun11resize

GIE is doing it again! Get ready for the 2011 PRIMA Fun Run/Walk. The event is designed to be a fun, organized, morning stroll with your Risk Management friends. We hope to reach 200 participants this year!

Registration Form

Route Map
More Info
KS/MO PRIMA

Lake Ozark, MO
April 13-15, 2011

Judd Feldman and Nate Simmons will be at KS/MO PRIMA convention at Lake of the Ozarks again this year. We have been loyal sponsors of the KS/MO PRIMA convention for over 13 years, and enjoy paying a visit to our loyal clients and public entities.
Lines of Coverage
Excess Liability
Excess Workers Comp
Property Programs
Police Professional
Buffer Layers
Med/Mal
Contact Us

Nate Simmons
Marketing Manager

Phone: 541-344-5411

E-Mail: Nate@globalre-int.com

Global Intermediaries of Eugene
411 East 3rd. Ave, Suite 300
P.O. Box 7035
Eugene, OR 97401


]]> http://www.globalre-int.com/newsletter/marchapril-newsletter-xs-liability-market-conditions-avoiding-epl-claims/feed/ 0 Excess Liability Market Conditions – Hard or Soft, Select or Not So Select http://www.globalre-int.com/blog/excess-liability-market-conditions/ http://www.globalre-int.com/blog/excess-liability-market-conditions/#comments Fri, 25 Mar 2011 18:20:47 +0000 GIE http://www.globalre-int.com/?p=1193 Depending on the account, the excess liability insurance market can feel very hard or very soft right now. I know that sounds strange, but it’s true!

Global Intermediaries just worked on a large county in the Northeast where the expiring carrier came back with a 33% increase due to loss activity. We eventually stimulated competition and brought the increase down to 17%, but it was still an increase. On the other hand, one of our recent Northwest accounts received an unsolicited quote from a newer market that didn’t even receive a submission!

The difference here is simple. Both public entities had different account profiles, specifically the loss ratios and the tort environments. It appears that the markets are gaining intelligence and cherry picking the “select”, loss free, accounts and going after them with gusto, whereas loss laden accounts are seeing increases. This new approach is a departure from our old thoughts of risk diversion and adverse selection, where markets applied the same rate to similar accounts, independent of loss ratios.

What does this mean for public entity insurance?

With the help of GIE, public entities and their brokers will need to determine if they fall into a “Select” program or a “loss laden” program. Select accounts will be largely loss free and will benefit from great coverage and a premium decrease. Loss laden accounts will have to work harder, with a more creative approach to the marketplace. No matter where your account stands, Global Intermediaries is here to help you and your agent plan the best marketing strategy; be it Select or Not So Select.

***One of the new items we’re working on is a stable rate product for Select accounts.  If you would be interested in such a product, please contact us and we’ll include your thoughts in our market approach.

]]> http://www.globalre-int.com/blog/excess-liability-market-conditions/feed/ 0 Happy Holidays From GIE http://www.globalre-int.com/newsletter/holiday/ http://www.globalre-int.com/newsletter/holiday/#comments Mon, 27 Dec 2010 20:02:56 +0000 GIE http://www.globalre-int.com/?p=1092

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Wholesale Public Entity Insurance

Visit www.globalre-int.com
Public Entity Specialists
happy-holidays1.jpg
Happy Holidays from Global Intermediaries!!!

 

Global Intermediaries would like to wish everyone Merry Christmas and a Happy New Year!


Instead of simply including the standard holiday photo this year, I decided to “Elf Out” the office. Enjoy the GIE rendition of Elf Yourself, hopefully it will bring you some extra holiday cheer!
-Nate Simmons

Click the link or picture below to watch the video!

GIE – Elf Yourself

From: Kathy, Judd, Natalie, and Nate

Elf Picture.jpg
]]> http://www.globalre-int.com/newsletter/holiday/feed/ 0 More Than A Placement Facility http://www.globalre-int.com/blog/more-than-a-placement-facility/ http://www.globalre-int.com/blog/more-than-a-placement-facility/#comments Mon, 15 Nov 2010 19:37:57 +0000 GIE http://www.globalre-int.com/?p=1167 “Placement Facility” is a term I hear all the time from brokerage firms these days. Some brokerages seem to think that wholesalers are only good for transacting business and correctly processing quotes, binders, and policies. What they’re missing is the expertise a niche wholesaler such as GIE provides; like the ability to help set retentions, identify problem areas, and then design solutions for those exposures. Our specialized focus allows us to design the perfect program for each public entity to solicit and present to the correct carrier. Add to that GIE’s constant drive for program creation and dedicated R & D and you’ll find that we’re more than just a “Placement Facility”. In fact, GIE would be one of the few players around if we could have patented all the coverage advances we’ve created or held captive all the companies we’ve introduced to the market. Instead, we released those into the marketplace to benefit public entities and their agents. This allows us to retain our independent status and true wholesale stance, proving our dedication to our agents and their accounts.

What gives Global Intermediaries this strong ability to push the public entity industry along is our robust history. We started as SIRPRO, an MGA for liability in 1993 and rapidly grew into a national powerhouse for self insured public entities. Over the hard market of 1999, we made a strategic decision to become a wholesaler, offering excess liability, excess workers compensation, med/mal, police professional, and property coverage for all companies to all agents. Since then, we’ve brought over 10 companies into the excess liability market and created many significant endorsements and coverage’s commonly used in this sector today.

So instead of using a “placement facility”, give GIE a call and allow us to help push your public entity programs forward!

]]> http://www.globalre-int.com/blog/more-than-a-placement-facility/feed/ 0 More Than A Placement Facility – November Newsletter http://www.globalre-int.com/newsletter/november/ http://www.globalre-int.com/newsletter/november/#comments Thu, 11 Nov 2010 19:54:31 +0000 GIE http://www.globalre-int.com/?p=1068

GI Logo - T5.jpg

Wholesale Public Entity Insurance

Visit www.globalre-int.com

Public Entity Specialists
GIETeamNewVR.jpg
Global Intermediaries – Part of the INSURICA Insurance Management Network
INSURICA-4C.gif
 
Hello, I’m Judd Feldman, president of Global Intermediaries, an independent public entity insurance wholesaler. We specialize in excess liability, workers comp, property, police professional, and Med/Mal placements for self insured public entities throughout the country. As part of INSURICA Insurance Management Network (an Assurex Global partner), GIE is able to maintain its independent focus while benefitting from the added support of a large and respected parent company. Our unique industry position allows us to stay specialized, but at the same time garner respect from all the large carriers. This gives us the best of both worlds, providing solutions for the larger brokerages, as well as many regional and independent brokers around the country. Overall, our expertise, coupled with the support of INSURICA, will save you time and money while providing the best coverage available. I look forward to showing you how our expert team will do much more than just “meet your expectations” as we create programs and solve your issues at Market Speed!
 
Call us today with any questions and see why GIE is considered the gold standard in the excess public entity insurance world!
 
541-344-5411

More Than A Placement Facility
“Placement Facility” is a term I hear all the time from brokerage firms these days. Some brokerages seem to think that wholesalers are only good for transacting business and correctly processing quotes, binders, and policies. What they’re missing is the expertise a niche wholesaler such as GIE provides; like the ability to help set retentions, identify problem areas, and then design solutions for those exposures. Our specialized focus allows us to design the perfect program for each public entity to solicit and present to the correct carrier. Current coverage example.jpgAdd to that GIE’s constant drive for program creation and dedicated R & D and you’ll find that we’re more than just a “Placement Facility”. In fact, GIE would be one of the few players around if we could have patented all the coverage advances we’ve created or held captive all the companies we’ve introduced to the market. Instead, we released those into the marketplace to benefit public entities and their agents. This allows us to retain our independent status and true wholesale stance, proving our dedication to our agents and their accounts. 
 

What gives Global Intermediaries this strong ability to push the public entity industry along is our robust history. We started as SIRPRO, an MGA for liability in 1993 and rapidly grew into a national powerhouse for self insured public entities. Over the hard market of 1999, we made a strategic decision to become a wholesaler, offering excess liability, excess workers compensation, med/mal, police professional, and property coverage for all companies to all agents. Since then, we’ve brought over 10 companies into the excess liability market and created many significant endorsements and coverage’s commonly used in this sector today.
 
So instead of using a “placement facility”, give GIE a call and allow us to help push your public entity programs forward!

Benefits of Adding the GIE Team!

Full market access – Both wholesale and retail markets.

Complete marketing capabilities – We can be your whole marketing department or just part of it.

Large volume with important public entity markets – Most companies recognize our expertise and sit with waiting ears.

Comprehensive marketing reports – A detailed list and explanation of the marketing process.

100 point coverage checklist – Side by side comparison of the top two companies for your client.

Extensive program creation knowledge – We can help design and tweak your program’s coverage.

Nationwide view – No matter where you are in the U.S., we know your area.

Large claims consultation – Our seasoned employees, with decades of claims experience, are waiting to answer your questions.

For more information on the benefits of "Adding GIE to your Marketing Team" visit our website.

Excess Lines of Coverage
Liability
Workers Comp
Property

Med/Mal

 Police Professional
Contact Us

Nate Simmons
Marketing Manager

Phone: 541-344-5411

E-Mail: Nate@globalre-int.com

Global Intermediaries of Eugene
411 E. 3rd, Suite 300
P.O. Box 7035
Eugene, OR 97401


]]> http://www.globalre-int.com/newsletter/november/feed/ 0 May Newsletter – PRIMA 2010 Fun Run/Walk http://www.globalre-int.com/newsletter/may/ http://www.globalre-int.com/newsletter/may/#comments Fri, 11 Jun 2010 18:38:53 +0000 GIE http://www.globalre-int.com/?p=745


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Public Entity Wholesale Insurance

Visit www.globalre-int.com

May Newsletter
Fun Run Banner.jpg
PRIMA 2010 Fun Run/Walk

Join GIE for the

Annual PRIMA Fun Run/Walk

Wednesday, June 9 at 7:00am

Back by popular demand! The PRIMA Fun Run/Walk is your chance to start your day off right, with a vigorous run or walk with your risk management colleagues. Join us on the morning of Wednesday, June 9 for this fun and healthy event! The Fun Run/Walk is sure to get you ready for the final day of the conference, and also give you more time to spend with new colleagues and friends! Registration is $10 per person and all proceeds will be donated Manancial Food Bank in Orlando. All participants will receive a Fun Run/Walk T-Shirt!

You can register via:

 Registration Form Found Here

OR

 Register Online via PRIMA’s Website

In order to register through PRIMA you will need to log in using your conference registration information. If you have any questions you can call: Jessica Konrath, PRIMA manager of member services at 703-253-1270 or jkonrath@primacentral.org

Do You Need A Buffer Layer?

Did your SIR
go up and you didn’t want it to?

Try a Buffer Layer Approach.

Last year, public entities across America saw an increase in their SIR’s and many don’t have the loss reserves to support the higher SIR. This leaves these public entities extremely vulnerable in a large loss situation. Should a large loss scenario occur, the risk manager would have to figure out how to externally fund the higher SIR, either with higher taxes or by floating a bond…Not exactly what a risk manager is excited to face with all the other challenges of today.

To counteract this higher SIR move by the standard public entity companies, we are seeing the emergence of a specialty market that offers "Buffer Layers". These buffer layers allow the client to keep the same lower SIR they prefer and are funded for.

Here’s your typical Buffer Layer scenario: 2008 SIR set at $2mil, 2009 renewal offered at a $4mil with some sort of discount. The client isn’t funded for the $4mil SIR, so we provide a $2mil X/S $2mil buffer layer. These buffer layers do cost money, but they have a decent payback period ofless than 10 years in most cases. Usually, the client uses the discount from the insurance placement, and other available resources to purchase the buffer layer.

The emerging companies providing the $1mil or $2mil layers are specialized and use a more primary loss pick rating system approach. These buffer layers resemble insurance that you’re more likely to use than the excess insurance of today, which companies are betting you don’t use…With the use of buffer layers, it is really a win / win situation. You get the SIR you financially need at a price you can handle and avoid the funding issue during a large claim which could lead to oversight of your department decision making powers.

GIE has been a specialized force in the public entity world for nearly 20 years and always stays top of emerging trends in the insurance world. Call us today to learn more about the use of this emerging "Buffer Layer" technique!

541-344-5411

   

GIE Photo Contest

Win a Special Edition Photo Contest Shirt!

Over the years GIE has given away thousands of shirts and we’d love to see them in action! Send us a photo of you or a friend in a GIE (or SIRPRO) shirt and vote for your favorite on our website! Winners will receive a special edition contest shirt!

Check Out The Entries!

Email Photo Submissions to Nate@globalre-int.com

Contest details can be Found
Here.

GIE’s New Website!

 Visit GIE’s New Website

With all of the new features, working and keeping up with GIE will now be easier than ever!

Best of all, Globalre-int.com is powered by 100% Wind Energy. 

Lines of Coverage
 Excess Liability
 Excess Workers Comp
Property Programs
 Med/Mal
Contact Us

Nate Simmons
Marketing Manager

Phone: 541-344-5411

E-Mail: Nate@globalre-int.com

Global Intermediaries of Eugene
411 E. 3rd, Suite 300
P.O. Box 7035
Eugene, OR 97401

 


]]> http://www.globalre-int.com/newsletter/may/feed/ 0 Section 287g Insurance Program http://www.globalre-int.com/blog/section-287g-insurance-program/ http://www.globalre-int.com/blog/section-287g-insurance-program/#comments Mon, 05 Apr 2010 18:44:24 +0000 GIE http://www.globalre-int.com/?p=692 Have a jail and looking for extra revenue? Read this article!

Public Entities across the country are signing contracts that allow the federal government to use the empty beds in their jails. This program allows public entities to bring in extra revenue, but at the same time introduces new risk. In reponse, GIE has designed a program specifically for Section 287g contracts and the liability associated with these programs. The program is designed for entities that either want to segregate their claims for ICE, or would like to buy down their SIR for the ICE program.

Here are the program basics.

Coverage provided:

  • A13 carrier
  • Non – admitted policy
  • Attachments down to $50k
  • Limits up to $5mil
  • GL for the jail portion used
  • Police professional for the jailors
  • Coverage for any law enforcement related auto accident
  • Coverage for the nursing staff at the Jail

Items needed to quote:

  • Police professional application
  • Full loss runs for the jail for the last 6 years
  • Number of inmates, jailors, autos and nurses specific to just the 287g program.

Our program is a great way to limit your exposure while bringing in extra revenue!

Get Started On Applying! Call Us Today!
541-344-5411


For more online resources visit the links below.

]]> http://www.globalre-int.com/blog/section-287g-insurance-program/feed/ 0 GIE March/April Newsletter http://www.globalre-int.com/newsletter/march-april/ http://www.globalre-int.com/newsletter/march-april/#comments Mon, 05 Apr 2010 18:38:24 +0000 GIE http://www.globalre-int.com/?p=683

GI Logo - T5.jpg

Public Entity Wholesale Insurance

Visit www.globalre-int.com
March/April Newsletter
GIE Photo Contest
Check Out GIE’s New Website!
GIE is pleased to announce the launch of its
New Website!


Working and keeping up with GIE will now be easier than ever!
Here are just some of the new features:

  • Dedicated Application and Resources Page
  • Custom Fillable PDF Forms
  • Access to GIE Newsletters, Articles, Blogs, and Photos
  • Events Page – Know what conferences GIE is attending
  • Detailed Information on Products and Coverages
  • Featured Programs, Contests, and More!
Best of all, GIE’s website is powered by 100% Wind Energy!
Visit www.Globalre-int.com Today!

Section 287g Insurance Program

Have a jail and looking for extra revenue? Read this article!

Public Entities across the country are signing contracts that allow the federal government to use the empty beds in their jails. This program allows public entities to bring in extra revenue, but at the same time introduces new risk. In reponse, GIE has designed a program specifically for Section 287g contracts and the liability associated with these programs. The program is designed for entities that either want to segregate their claims for ICE, or would like to buy down their SIR for the ICE program.

Here are the program basics.

Coverage provided:

  • A13 carrier
  • Non – admitted policy
  • Attachments down to $50k
  • Limits up to $5mil
  • GL for the jail portion used
  • Police professional for the jailors
  • Coverage for any law enforcement related auto accident
  • Coverage for the nursing staff at the Jail

Items needed to quote:

  • Police professional application
  • Full loss runs for the jail for the last 6 years
  • Number of inmates, jailors, autos and nurses specific to just the 287g program.

Our program is a great way to limit your exposure while bringing in extra revenue!

Get Started On Applying! Call Us Today!
541-344-5411


For more online resources visit the links below.


GIE Photo Contest
Win a Special Edition Photo Contest Shirt!

Over the years GIE has given away thousands of shirts and we’d love to see them in action! Send us a photo of you or a friend in a GIE (or SIRPRO) shirt and vote for your favorite on our website! Winners will receive a special edition contest shirt!

Check Out The Entries!

Email Photo Submissions to Nate@globalre-int.com

Contest details – Found Here
PRIMA 2010
FunRun2010.jpg

GIE is doing it again! Get ready for the 2010 PRIMA Fun Run/Walk. The event is designed to be a fun, organized, morning stroll with your Risk Management friends.

Click Here For More Info
Lines of Coverage
Excess Liability
Excess Workers Comp
Property Programs
Med/Mal
Contact Us

Nate Simmons
Marketing Manager

Phone: 541-344-5411

E-Mail: Nate@globalre-int.com

Global Intermediaries of Eugene
411 East 3rd. Suite 300
P.O. Box 7035
Eugene, OR 97401

]]> http://www.globalre-int.com/newsletter/march-april/feed/ 0 NYMAGIC Excess Workers Comp http://www.globalre-int.com/blog/nymagic-excess-workers-comp/ http://www.globalre-int.com/blog/nymagic-excess-workers-comp/#comments Fri, 05 Mar 2010 19:35:45 +0000 GIE http://globalre-int.com/?p=552 Global Intermediaries has seen the expert Underwriters at Midlands Management, the MGA for New York Marine & General Insurance Company’s (NYMAGIC) nationwide Excess Workers’ Compensation program, increase their focus on large public entities around America. What this means for you, the public entity or the public entity broker, is another great choice in carriers!

NYMAGIC performs great on accounts over $100,000 in policy premium and really shines on large accounts where you need an Underwriter to listen to you.  From large single self insureds, to JPA’s, to larger pools, the seasoned Underwriting staff at Midlands Management has the expertise to understand your risk and offer creative solutions.  If you do not yet have a quote on your Excess Workers’ Compensation account from Midlands Management on behalf of NYMAGIC, don’t hesitate, contact GIE today to see just how good they are!

Contact GIE Today – 541-344-5411

Judd@globalre-int.com

NYMAGIC Excess Workers Comp Details


]]> http://www.globalre-int.com/blog/nymagic-excess-workers-comp/feed/ 0 GIE PARMA Edition – Thank You http://www.globalre-int.com/newsletter/parma/ http://www.globalre-int.com/newsletter/parma/#comments Thu, 04 Mar 2010 21:23:43 +0000 GIE http://globalre-int.com/?p=542


GI Logo - T5.jpg

Public Entity Wholesale Insurance

Visit www.globalre-int.com
PARMA Edition
PARMA Banner.jpg
Featured Product

NYMAGIC Excess WC

Global Intermediaries has seen the expert Underwriters at Midlands Management, the MGA for New York Marine & General Insurance Company’s (NYMAGIC) nationwide Excess Workers’ Compensation program, increase their focus on large public entities around America. What this means for you, the public entity or the public entity broker, is another great choice in carriers!

NYMAGIC performs great on accounts over $100,000 in policy premium and really shines on large accounts where you need an Underwriter to listen to you. From large single self insureds, to JPA’s, to larger pools, the seasoned Underwriting staff at Midlands Management has the expertise to understand your risk and offer creative solutions. If you do not yet have a quote on your Excess Workers’ Compensation account from Midlands Management on behalf of NYMAGIC, don’t hesitate, contact GIE today to see just how good they are!

Click Here or Contact GIE For More Infomation!

541-344-5411
PARMA 2010 – Sacramento

Thank You From GIE

Wow, what a rush! PARMA is always a blast for Global Intermediaries. Great people, great food, and great times, what more could we ask for?

We’d like to thank everyone who attended PARMA this year. Despite the economic situation, there was quite a showing of people ready to learn and have a little bit of fun. A special thanks to everyone who dropped by our booth to say hello! It’s always nice to meet new faces. Congrats to those of you who won our running/exercise shirts. If you’re going to PRIMA, be sure to register for our Fun/Run Walk. Click Here For More Info
Sincerely,

Global Intermediaries
PRIMA 2010
Congrats to Joseph Mazza! Winner of a Brand New Garmin GPS!

PARMA GPS Winner1.jpg

Thanks to everyone who entered our drawing. After a few good shuffles of the cards, Joseph Mazza ended up being our winner! He’ll never be lost again with his new GPS!

PRIMA 2010
FunRun2010.jpg

GIE is doing it again! Get ready for the 2010 PRIMA Fun Run/Walk. The event is designed to be a fun, organized, morning stroll with your Risk Management friends.

Click Here For More Info
Lines of Coverage
Excess Liability
Excess Workers Comp
Property Programs
Med/Mal
Contact Us

Nate Simmons
Marketing Manager

Phone: 541-344-5411

E-Mail: Nate@globalre-int.com

Global Intermediaries of Eugene
1600 Executive Parkway, Ste 205
P.O. Box 7035
Eugene, OR 97401
]]> http://www.globalre-int.com/newsletter/parma/feed/ 0