Non-renewed after 20 years and one fire
An Eastern Washington manufacturer had a fire at its facility that cost more than $600,000. Its insurer, a large captive insurance company that specializes in manufacturers, then declined to renew. We found the business a new home at about the same premium.
A long relationship ended by a single claim
The client is a manufacturer in Eastern Washington. For more than 20 years it had been insured by a large captive insurance company that specializes in manufacturers.
Then a fire at the facility caused a loss of more than $600,000. After the claim, the insurer sent a notice of non-renewal.
That left the business needing a new insurer at the hardest possible moment: with a large, recent fire loss on its record, and a non-renewal that every new application would ask about.
A new program, built for this business
First Underwriters took the account to market and secured replacement coverage for the client.
The new program was customized for how the business operates. It was not an off-the-shelf package offered only because nothing else was available.
Great coverage at about the same premium
The client moved to its new program with great coverage, at about the same premium it had been paying before the fire.
A business that had just been non-renewed after a six-figure loss did not have to accept weaker coverage or a sharply higher price.
Three things that help after a non-renewal
Start right away
A non-renewal notice comes with a deadline. The more time there is before coverage ends, the more insurers can be approached.
Tell the story of the loss
Underwriters want to know what happened, what was repaired, and what has changed since. A clear account answers their first questions.
Look beyond one insurer
A specialist insurer saying no is one company's decision. An independent broker can take the account to others.
Non-renewed, or expecting to be?
Send us your notice and loss runs, and we'll tell you what your options look like.
This case study describes an actual First Underwriters client situation, with identifying details withheld. Every business is different. Coverage availability, terms and premium depend on each insurer's underwriting, and past results do not guarantee a similar outcome.