In this interview, NAESIP CEO Dave Quinn discusses how agents can add pollution insurance to their book of business to a wide range of clients.
Do you think most agents recognize the sales opportunity for pollution insurance?
NAESIP specializes in pollution insurance, and part of our process is to educate agents about the sales opportunity pollution insurance offers. Most general liability policies today have an absolute pollution exclusion. But, many non-environmental businesses have a pollution risk that often is not covered properly. READ MORE (PDF):https://bit.ly/3eqgmy6
Insurance agents who want to expand coverage offerings are recommending cyber to their clients. With media attention on cyberattacks, agents and their clients are very aware of the need to protect their businesses. Most people don’t link cyberattacks with pollution events, but hacking-related pollution incidents are on the rise. https://bit.ly/3uV0Jpb
NAESIP pollution liability for developers provides coverage that is built for the business situation of the client. This makes it different than standard contractor pollution policies.
NAESIP’s developer pollution coverage includes sites that are: owned, leased, or occupied by the insured. The insuring agreement includes anything emanating from, on-top of, at, or underneath the locations scheduled onto the policy.
Contractor policies do not cover sites that are owned, leased, or rented, and the agreement strictly includes places where the insured does their work. NAESIP can also add a number of endorsements to cover transit pollution away from the site and waste streams that may be taken to non-owned disposal sites.
Some sites, like office buildings, have innocuous exposures. Exposures could increase in locations with a shopping center with a dry cleaning business or a manufacturer that uses chemicals. Site history is important to consider.
For example, a pristine apartment complex may appear to have limited exposure, but what if it is built on top of a landfill that could present vapor issues at a later date?
This is why NAESIP tailors site policies to each client and their exposure.
Click here to read more about how NAESIP helps agents increase their book of business
The most important thing to NAESIP is our relationship with our retail agents. NAESIP invests in our agent relationships to produce unique pollution insurance offerings to the marketplace that are better than what it currently available.
NAESIP also has direct relationships with the majority of our carriers. We focus on creating “exclusive” pollution insurance products such as master policies for certain industries instead of creating “exclusive” markets.
NAESIP writes for a large number of different groups that need pollution coverage. For example, we have an exclusive risk group in 11 states for clients that work in the auto service sector, including dealerships, body shops and car washes.
NAESIP responds to the needs of its agents. We are currently developing another pollution insurance product for home inspection companies in conjunction with a retail agent and his 1,000-member association client.
Welcome to the new NAESIP blog. We are dedicated to helping insurance agents understand environmental and pollution insurance. This is an underserved market. NAESIP takes a hands-on approach to identifying exposures. We have a 60-70% binding rate.
