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Alternative Risk Strategies — ART

Your broker is having difficulty finding affordable insurance for all the exposures your company faces. Possibly you have locations in disaster-prone areas. Maybe somebody else, an underwriter, classes your risk profile as distressed in spite of the efforts you have demonstrated to control losses and your excellent track record. If this sounds familiar you could be a good candidate for an alternative risk strategy such as:

  • Captive
  • Self-insurance
  • Risk Retention Group (RRG)
  • Finite Risks
  • Others

We understand some of the advantages and disadvantages of different ART strategies to help you make an informed decision. Once your strategy is decided, we can help give you direction on the tactics needed, and connect you with the resources that can help you actualize your plan.

Casualty

We specialize in writing large difficult to place risks that the standard markets avoid. We access markets as a wholesaler and also have some program authority.

Excess Liability

From small to very large accounts, we can provide excess on most types of businesses and coverage lines.

Environmental

Pollution and environmental liability insurance isn’t just for contractors, oil & gas companies, and manufacturers. Other businesses may also have a pollution exposure. Quadrant offers a selection of coverages which can be purchased individually or combined depending on the carrier. Traditional general liability policies exclude pollution and environmental hazards, making it necessary to purchase separate coverage. Typically environmental liability coverage provides protection from bodily injury, property damage, and remediation expenses arising out of the release of contaminants into the environment.

Most contracting trades have environmental and pollution exposures and need contractor’s pollution liability (CPL) to help mitigate their potential financial risk as a result of their operations. Contractors are engaged in operations that take them to multiple job sites. Different pollution risks may arise from fuel spills, contaminated soil disposal, chemical & toxic gas release, utilities, transportation, and storage tanks. Contractors are increasingly being asked to carry professional liability insurance. A contractor who is not sufficiently insured for professional liability exposures can potentially experience a devastating financial loss if a claim is made.

Many other types of businesses such as real estate agents, banks, retail businesses, and medical facilities are also at risk. Without this coverage they may be open to exposures such as having hazardous waste materials discovered on the business’ property and then may be subject to the high cost for hazardous waste clean-up.

Coverage

  • Contractors Pollution Liability
  • Contractors Professional Liability
  • Environmental Liability
  • Excess or Umbrella
  • General Liability
  • Pollution Legal Liability
  • Protective
  • Site & Accidental Liability
  • Storage Tank Liability
  • Ability to mix and match coverages with some markets

Highlights

  • Can be offered as stand-alone coverage or package depending on the market and risk
  • Flexible limit options from $1M to $30M
  • Coverage may be available for lead, asbestos, mold, and transportation
  • Average minimum premium is $10k to $15k, but may be as low as $2500
  • Multiple retention options
  • Project specific policies may be available

Target Classes

  • Construction Management Firms
  • Contractors & Consultants
  • Air Quality & Industrial Hygiene Consultants
  • Building Contractors
  • Electrical, Mechanical/HVAC Contractors
  • Generalists, Trade, Artisan, or Environmental
  • Industrial & Industrial Cleaning Contractors
  • Underground Storage Tank Installation/Removal Contractors
  • Educational Institutions
  • Energy Risks
  • Environmental or Remediation Engineers
  • Environmental Consultant
  • Environmental Labs & Testing Facilities
  • Financial Institutions
  • Healthcare
  • Hospitality
  • Manufacturing, Commercial, Industrial, Habitational, & Municipal Facilities
  • Real Estate

Energy

Energy Liability is available for traditional, alternative, and renewable resources. We also will consider risks that generate a major portion of their exposure base by servicing the energy industry. Risks involved in oil, gas, hydrocarbon, petrochemical, or wind/solar industries can be considered.

Quadrant has had success in the energy sector with difficult property placements. Using forms like MOP (Manufacturers Output), we have been able to craft coverage for our clients’ specific needs and have deployed a range of deductible options. This approach generally works best with larger accounts that are in excess of $100,000 premium. Primary limits of $100M are attainable on a subscription policy basis.

Coverages

  • General Liability
  • Pollution Liability
  • Site Pollution
  • Products/Products Pollution
  • Property
  • Site Pollution
  • Excess/Umbrella
  • Additional Supplementary & optional coverages may be available
  • Can be offered as stand-alone coverage or package depending on the market and risk

Target Classes

  • Contractors
  • Consultants
  • Manufacturers
  • Transportation & Disposal
  • Utilities
  • No offshore risks

Management Liability

Management Liability insurance is essential for both large and small businesses of all types—from large, complex multi-layered operations to small family businesses. No one expects a claim and no company is immune to litigation. Quadrant can help simplify the process and help you obtain the coverages you are looking for.

Coverages and Highlights

  • Directors & Officers Liability
  • Employment Practices Liability
  • Employed Lawyers
  • Fiduciary Liability
  • Crime
  • Kidnap & Ransom
  • Excess Limits
  • Flexible limit options up to $10M
  • Minimum premiums & deductibles vary by class & market
  • Coverages and limits can be purchased separately or in combination

Target Classes

  • Small to large risks
  • Private, Public, and Not for Profit
  • Architects & Engineers
  • Business and Professional Services
  • Consulting Services
  • Contractors
  • Education
  • Employment Services
  • Healthcare/Medical Services
  • Hospitality
  • Insurance: Agents, Brokers, Companies, RRGs, Reinsurance Intermediaries, etc.
  • Law Firms and Legal Services
  • Manufacturing/Construction
  • Marketing, Advertising, and Media Services
  • PEOs
  • Real Estate Services
  • Restaurants
  • Retail and Wholesale Companies
  • Service Industries
  • Staffing Companies
  • Technology Firms

Access
We can accept submissions on most competitors’ applications or you can request an application from us. We also have online applications available to our Select Agents:

Professional Employer Organizations (PEOs), Recruitment Agencies, and Employment Agencies

Obtaining insurance coverages for PEOs and ASOs can be challenging. Some markets decline based on class, while others don’t understand the class. Sometimes a PEO is only seeking insurance for the entity itself, while other PEOs are looking to cover their client companies as well. Quadrant works with carriers that have a specialized form for PEOs and underwriters experienced in serving this industry segment.

Coverages and Highlights

  • Professional Liability
  • Employment Practices Liability
  • Directors & Officers Liability
  • General Liability
  • Excess Liability
  • Note: we do not offer Workers Compensation
  • Limits up to $10M based upon risk and coverage

Target Employment Sectors

  • Accounting, Banking, and Financial Services
  • Commercial
  • Construction
  • Driving/Haulage
  • Education
  • Engineering and Technical
  • Executive Recruitment and “Headhunters”
  • Hospitality
  • Industrial
  • Interim Management
  • IT/Telecommunications
  • Human Resources
  • Legal
  • Marketing, Media, and Communications
  • Medical
  • Nursing
  • Office Professionals/Clerical Workers
  • Oil & Gas
  • Pharmaceutical & Scientific
  • Public Sector
  • Recruitment
  • Retail
  • Sales
  • Social Workers
  • Technology

Professional Liability

Accountants Professional Liability

Accountants Professional Liability offers E&O insurance designed specifically for accounting professionals—whether a Bookkeeper, Tax Preparer, or Certified Public Accountant. The coverage is designed to help protect firms against damages and claims expenses resulting from negligence, errors, and omissions in the performance of professional services.

Coverages and Highlights

  • Accountants Professional Liability
  • Excess limits
  • Limits from $1M to $10M

Target Classes

  • Firms of any size excluding the Top 8
  • Accounting Professionals
  • Bookkeepers
  • Enrolled Agents
  • Tax Preparers

Architects & Engineers Professional Liability

Architects & Engineers Professional Liability offers professional liability insurance designed specifically for professionals in architecture, engineering, and construction management. These professionals encounter potential claims that can present significant financial risk because of the highly specialized services they provide their clients. This coverage helps protect against damages and claims expenses resulting from negligence, errors, and omissions in the performance of professional services.

Coverages and Highlights

  • Architects & Engineers Professional Liability
  • General Liability
  • Privacy & Network Security
  • Contractors Pollution
  • Protective Indemnity
  • Excess limits
  • Coverage availability based upon risk and market selection
  • Some of our markets offer pollution, protective & professional on a package policy
  • Limits up to $10M

Target Classes

  • Architects
  • Engineers
  • Construction Managers
  • Consultants
  • Contractors
  • Design/Build Firms
  • Land Surveyors
  • Real Estate Developers
  • And More

Lawyers Professional Liability

Quadrant offers Lawyers Professional Liability for difficult to place risks, either due to areas of practice or claims experience. Our markets for this class are surplus lines only.

Coverages

  • Lawyers Professional Liability
  • Primary limits up to $5M
  • Excess limits

Target Classes

  • Difficult to place law firms including the following practices:
    • Intellectual Property
    • SEC
    • Real Estate
    • Plaintiff
    • Mass Torts

Miscellaneous Professional Liability

Named professions such as insurance agents, insurance companies, doctors, lawyers, accountants, architects, and engineers typically have a professional liability policy tailored to their profession. However, when a business outside of those disciplines offers professional services its source of similar coverage may be a miscellaneous professional liability policy. Sometimes called errors and omissions (E&O) liability, this policy helps protect a business from negligence while in the performance of professional services that are offered for a fee. In delivering its professional services, a company may make a mistake that results in a financial loss to the customer. A loss due to a negligent professional act is not covered under standard general liability policies, which is why separate coverage for professional liability is needed. A company offering professional services can be sued by their clients or customers over claims such as:

  • Error, omission, or negligence in providing a professional service
  • Failure to provide a service/not providing service according to specified industry standards
  • Misstatement or misleading statement
  • Breach of duty
  • Personal injury (sometimes covered under a miscellaneous professional liability policy)

Coverages and Highlights

  • Miscellaneous Professional Liability
  • Flexible limit options up to $10M
  • Excess limits
  • Minimum premiums & deductibles vary by class & market

Target Classes

  • Small to large businesses offering professional services
  • Business and Professional Services
  • Consulting Services
  • Construction Managers
  • Education
  • Employment Services
  • Financial Services
  • Healthcare/Medical Services
  • Legal Services
  • Marketing, Advertising, and Media Services
  • Technology Firms
  • Travel, Recreation, and Entertainment Services
  • And more

Sexual Misconduct Liability

Why consider Standalone Sexual Abuse & Molestation Coverage (SML)?

$19.9M Verdict — awarded to a boy who was sexually assaulted by a former Boy Scout assistant troop leader.

We have all seen the headlines with similar shock verdicts. Employers used to look to their general liability policies for sexual abuse & molestation (SML) coverage. However, general liability may offer only restricted coverage.

Coverage and Highlights

  • Sexual Misconduct Liability (SML)
  • Standalone product
  • Limits up to $5M
  • Minimum premium of $7500
  • Minimum self-insured retention (per victim) of $10k
  • Limits can be primary or excess
  • Free access to risk management tool
  • Coverage includes negligent hiring, employment, investigation, supervision, training, or retention of, or failure to report to proper authorities employees who commit acts of sexual misconduct or molestation
  • Coverage for insured events occurring anywhere in the world

Target Classes

  • Coverage for executive officers, directors, trustees, employees, coaches, counselors, clergy, and volunteers
  • Religious Institutions/Organizations—archdioceses, churches, parishes, and Sunday schools
  • Educational Institutions—colleges, universities, schools, and day care facilities
  • Counseling Services
  • Transportation—school buses, non-emergency medical transports
  • Healthcare Organizations—assisted living facilities, clinics, hospitals, and group homes
  • Recreation Centers—spas, health clubs, museums, day camps, and outdoor activity companies
  • Non-Profits—social services, charities, foster care, and mentoring programs
  • Other industries may be considered

Third Party Discrimination & Harassment

Your client may be able to get employment practices liability insurance, but what if third party coverage isn’t available or only a sublimit is offered? Businesses like hotels, banks, restaurants, retail stores and schools are typical targets for third party claims. However, any business whose employees have a great deal of interaction with customers, vendors, clients, suppliers and visitors can have a high risk potential for a third party claim. Often third-party EPL complaints involve accusations of emotional distress caused by discrimination and harassment based on race, sex, religion or ethnicity.

Because of the higher risk of a third party claim some carriers won’t offer third party coverage or offer only a reduced sublimit to these types of businesses. That is why Quadrant developed the standalone Third Party Discrimination & Harassment product (TPD&H).

Here are some ways TPD&H can be used:

  • When an insured cannot get any third party coverage under an EPL policy our product will offer a standalone option.
  • If an insured’s EPL policy is only offering a sublimit for third party coverage our product can be excess and treat the sublimit as an SIR.

Coverage and Highlights

  • Standalone Third Party Discrimination & Harassment
  • Includes wrongful eviction arising from discrimination/harassment
  • Minimum premium starts at $5k
  • Limits from $500k to $2M
  • Punitive damages included (where insurable/most favorable venue wording)
  • Coverage for claims brought anywhere in the world

Target Classes

  • Banks
  • Colleges and Universities
  • Hotels and Motels
  • Resorts
  • Restaurants
  • Healthcare Industry (discrimination only)

Submission Guidelines

  • Completed application
    • Typically we can work from a competitor’s application or you can contact us for a new application.
  • Loss history
    • 3-5 full years of carrier loss runs, currently valued
  • Claims details
    • Summary of what happened, when, what was paid/by whom, current status, and corrective actions taken. Or complete and submit claim supplement.
  • Financials may be required
  • Define the opportunity
  • Who is the current carrier? Is incumbent offering renewal terms? If no, why not? If yes, why is insured marketing it? To whom is it being marketed? Are there any special concerns?
  • Current and desired premium/deductible/limits
  • Coverages needed and any special coverage requests
  • Effective date
  • Quote need-by date
  • Other coverages that the insured may be interested in
  • Send submission to submissions@quadrant-us.com
  • If you have any questions, please feel free to contact us at: 614.841.1425 and ask for a producer.
Quadrant Insurance Managers HQ

Testimonials & Quotes
“Quadrant Insurance has become my go-to resource for all my insurance needs. Not just our company’s but also for our member-insureds. Whenever we need assistance, they’re extremely responsive, creative and helpful. Definitely someone I’d recommend!”

– William T.
President, Risk Retention Group

Things We’re Talking About

ADDITIONAL COVERAGES TO CONSIDER:

  • Cyber/Network Security & Privacy
  • General Liability
  • Excess General Liability
  • Pollution
  • Umbrella/Excess Liability

The coverage information outlined is a guideline only. Please refer to the actual policies for the full terms, conditions, exclusions, and limitations. In the event of a conflict between this document and the actual policies, the actual policies will supersede this document.