Posted by GIE on April 5, 2010 · Leave a Comment
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.
Posted by GIE on April 5, 2010 · Leave a Comment
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| Check Out GIE’s New Website! |
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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!
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Section 287g Insurance Program
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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.
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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
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| Excess Liability |
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Nate Simmons
Marketing Manager
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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
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Posted by GIE on March 5, 2010 · Leave a Comment
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
Posted by GIE on March 4, 2010 · Leave a Comment
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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
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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
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Nate Simmons
Marketing Manager
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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
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Posted by GIE on February 25, 2010 · Leave a Comment
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| SIR Programs — Excess Limits — Reinsurance |
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 Introducing Nate Simmons!
GIE’s Newest Addition!
GIE is pleased to announce the addition of Nate Simmons to it’s team of Public Entity Experts. In the coming months, Nate will be working on updating GIE to ensure that we are incorporating the best technology and resources available. This means that GIE’s clients and agents will see smoother transactions, easier submissions, and ultimately, better results! Also, look for a brand new website in the coming weeks!
Nate graduated from the University of Oregon in 2009 with degrees in both Marketing and Economics. He has experience in web development, digital marketing, and has held various internships at wholesale insurance companies. In his spare time he enjoys hiking, scuba diving, alpine skiing, and whitewater rafting.
Nate will be at PARMA next week, so be sure to stop by and say hi!
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Do You Need A Buffer Layer?
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| Did your SIR go up and you didn’t want it to?
Try a Buffer Layer Approach.
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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 of less than 10 years in mostcases. 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 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
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| Excess Liability |
| Excess Workers Comp |
| Property Programs |
| Med/Mal |
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Nate Simmons
Marketing Manager
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Phone: 541-344-5411
E-Mail: Nate@globalre-int.com
Global Intermediaries of Eugene
1600 Executive Parkway
Suite 205
P.O. Box 7035
Eugene, OR 97401
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Posted by GIE on February 11, 2010 · Leave a Comment
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 of less 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 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!
Posted by GIE on January 27, 2010 · Leave a Comment
Global Intermediaries is proud to announce the launch of their brand 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, Blogs, and Photos
- Detailed information on Products and Coverages
- Events Page – Know what conferences GIE is attending
Posted by GIE on January 26, 2010 · Leave a Comment
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| SIR Programs — Excess Limits — Reinsurance |
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| True One Stop Shopping… |
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Do you have all the markets covered?
Have you been hired by a public entity to provide access to the entire insurance marketplace? Well if you’re not teamed up with a specialty wholesaler like GIE, then you’re missing a vital part of the puzzle. Many great excess markets are wholesale only and can ONLY be accessed by a qualified and appointed wholesaler. GIE is an independent wholesaler who specializes in excess insurance for public entities. We provide access to all the markets, both retail and wholesale.
Call us today to reserve this wholesale only market!
1-541-344-5411
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Bob Penny Says Hello!
Perspective from the past year:
The roiling financial markets created impetus for change; in our municipal financial plans, and in our personal investments. The influx of additional capital and carriers serving the public entity sector has helped our many clients meet their budget challenges; and we were happy to be part of this process. We have access to a changing marketplace and this allows us to help with your insurance placements, many of which changed this year.
This was a year of change for me also. After 30+ years serving you from the carrier side, resolving your claims and underwriting your liability insurance, I adapted to the changing marketplace and adopted another position to continue to serve you. It is a pleasure to work with GIE and to have the opportunity to serve you as a wholesale broker. I look forward to facing changes with you!
I wish you all the best in the coming year.
Respectfully,
Robert Penny
Senior Vice President, GIE
Bob@globalre-int.com
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Sacramento, CA
Stop by booth 218 and catch up! We’ll be holding a scratch lottery for running shirts. If you’re a winner remember to bring your shirt to our PRIMA Fun Run/Walk!
Be sure to attend Bob Penny’s learning session on How to Evaluate Your Carrier’s Ability to Pay Your Claims. More information can be Found Here in section C5.
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| Excess Liability |
| Excess Workers Comp |
| Property Programs |
| Med/Mal |
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Nate Simmons
Marketing Manager
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Phone: 541-344-5411
E-Mail: Nate@globalre-int.com
Global Intermediaries of Eugene
1600 Executive Parkway, Suite 205
P.O. Box 7035
Eugene, OR 97401
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