Success Stories
| Account: | Roofing Contractor (FL) |
| Lines: | Pay-as-you-go Workers’ Compensation |
| Limits: | $500,000 / 500,000 / 500,000 |
| Premium: | $27,000 |
| This contractor specializes in residential and commercial roofing. The client did not have strong cash flow due to lack of work so NIP Specialty Brokerage came up with a solution that offered a “pay as you go” Workers’ Compensation plan. This solution allows the insured to pay premiums based on reported payrolls on a month-to-month basis. |
| Account: | Inspection and Engineering Corporation (FL) |
| Lines: | General Liability/Professional Liability |
| Limits: | $1,000,000/$2,000,000/$2,000,000 |
| Premium: | $38,000 |
| This engineering firm does non-destructive testing and inspections for the aircraft, petrochemical and power plant industries. NIP Specialty Brokerage secured a market willing to offer Primary/Non Contributory coverage and Ongoing completed operations coverage. The carrier also included a designated premises pollution limit. |
| Account: | 100% Paper GC (NY) |
| Lines: | General Liability |
| Limits: | $1M / $2M |
| Premium: | $50,000 |
| This contractor specializes in residential and commercial renovations in New York City. All work is 100% sub-contracted and the client was looking for reduced premium and rates. Expiring premium was $65,000. We contacted one of our A rated carriers and were able to write it for $50,000 for the 10-11 period, saving the client $15,000. |
| Account: | Drainage & Waterproofing Contractor (CO) |
| Lines: | General Liability |
| Limits: | $1,000,000/$2,000,000/$2,000,000 |
| Premium: | $50,000 |
| This contractor specializes in waterproofing around homes and buildings. The account was non-renewed due to high percentage of residential work. NIP Specialty Brokerage secured a market willing to offer blanket additional insured coverage and blanket waiver of subrogation. The agent was able to offer the right terms with an A rated market that specializes in contractors within that territory. |
| Account: | Commercial Steel Fabricator of Stairs & Rails (NJ) |
| Lines: | GL & Umbrella |
| Limits: | $1M / $2M GL and $10M Umbrella |
| Premium: | $25,000 (GL) and $36,162 – $10M (Umbrella) |
| This account was with an admitted carrier when we were contacted to re-market it. NIP Specialty was able to place the account with an E&S on an admitted paper as the risk was domiciled in NJ. Not only was NIP Specialty able to provide the insured $12,000 in premium savings from last year, but we also were able to provide an additional savings of 5% of NJ Sales Tax. |
| Account: | Steel Erector & Welding (PA) |
| Lines: | GL & Umbrella |
| GL Limits: | $1,000,000/$2,000,000 Premium: $36,000 |
| Umbrella Limits: | $3,000,000 Premium: $26,500 |
| The risk is located in Pennsylvania where the applicant performs steel erection, plank erection and welding. This was a new account to an active broker who came to us with exactly what was needed to bind the account. Due to our strong relationships with A rated carriers, we were able to secure the exact coverage, limits and premium necessary to help this agent win the account. |
