PROPERTY & LIABILITY INSURANCE
The negotiation of maximum protection and continuous cost reductions in the Property and Liability insurance coverage areas are Palmer & Cay's core client service functions.
As trusted business advisors, we invest the time to understand the most intimate details of your business, then serve as an extension of your management team or Risk Management Department to remain up to date on the latest developments affecting your risk profile. Knowing your business at this level enables our team to present your account to the insurance marketplace in the most favorable light possible and assures optimal outcomes in terms of coverage design and pricing.
Our experienced professionals facilitate a thorough and comprehensive competitive bid process on your behalf for all lines of coverage. We market your account to leading insurance carriers seeking to underwrite risks in your particular industry segment. We develop world class, "best practice" underwriting submissions customized to match each carrier's underwriting parameters, thereby supporting special considerations and accommodations we seek to obtain on your behalf. The following lines of insurance represent the range of placements we make for clients in every industry sector:
- Property & Business Interruption/Extra Expense
- Builder's Risk & Project Specific General Liability
- Comprehensive General Liability
- Automobile Liability & Physical Damage
- Umbrella & Excess Liability
- Workers Compensation/Employers Liability
- Inland & Ocean Marine
- Director's & Officer's Liability
- Employment Practices Liability
- Fiduciary Liability
- Professional Liability/Errors & Omissions
- Cyber Risk Liability
- Environmental Liability & Pollution Cleanup
- Product Contamination & Product Recall
- Special Events Coverage
- Aviation Liability & Hull Coverages
- Foreign Package & International DIC Policies
The special relationships Palmer & Cay has with its insurance company partners throughout the global marketplace enables our team to successfully address the most challenging risk issues with creative and flexible solutions. While we will always implement our basic service plan and its built-in competitive bid process, we also encourage clients to establish long-term relationships with their carriers wherever possible. This long-term relationship strategy frequently pays off later in a difficult claim scenario or a hardening insurance marketplace.
At Palmer & Cay, we take market security extremely seriously. An insurance carrier's financial position can change quickly, therefore it is critical to use only those markets that are the strongest financially, particularly on coverages with long claim duration such as Workers Compensation and other liability coverages. We always inform our clients of the proposed carriers' financial strength ratings during the placement process. While there are no guarantees of an insurance company's future financial health, we only utilize carriers with an A.M. Best rating of A- Class 7 or higher.