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My business card says "Senior Vice President - Casualty Division" but my internal paperwork says "Senior Broker". One is to impress, one is descriptive. Guess which is which.
So I'm a wholesale insurance broker who specializes in third party corporate liability (to dumb it down). Basically, we're all familiar with the special insurance companies for bad drivers, right? The same thing exists for corporations and it makes up about 7% of Property/Casualty insurance in the US.
My clients are, as a rule, other insurance agents, usually working for the top 100 insurance agencies/brokerages in the country. I don't have a territory, so I get to go wherever I want. When they have something that is too difficult or they need specialized coverages or higher limits, they call me. Most of my time is spent schmoozing and overseeing my assistants' work with the markets. The accounts that I write tend to be large (median premium is around $65,000) and either have a potential for nasty claims or have had nasty claims. Chances are that you've seen something that I placed the Product Liability on in the last 24 hours.
To make things even more complex, I do General Liability, Umbrella/Excess, Auto (if there's an Environmental exposure), Product Recall, Wrap Ups (both OCIP and CCIP), Contractors Pollution, Environmental Impairment Liability and Product Warranty.
I'm the third largest producer of non-admitted casualty business in Minnesota even though I don't live there. If you bought a house built in Las Vegas between 2002 and 2006, there's a 18% chance I wrote the GL coverage for it (don't file a construction defect suit). There is - literally - not a single product manufactured or imported into the US that I cannot find coverage for, no matter how bad it is. Yes, including nuclear. Yes, including lead-filled children's toys from China. Yes, including log splitters that remove hands. No exceptions.
I typically field calls while typing posts here. I find that it gives them a pleasingly disjointed look at times and a downright undecipherable one sometimes. And I like it that way.
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"They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety." - B. Franklin
"There ought to be limits to freedom." - George W. Bush
"We have met the enemy and he is us." - Pogo
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