Do you need assistance placing a high hazard property risk? Chase Complex Risks is here to help!
Since our launch last year, we have been successful supporting our partners by providing solutions for their more challenging property placements.
Too often, we find that insurers surprise holding brokers on these placements at relatively short notice, by reducing their capacity, increasing premiums or declining renewal as they ‘adjust’ their portfolio risk. Chase offers a ‘low touch’ competitive solution. We can provide coinsurance support or an alternative 100% replacement capacity. Our appetite for challenging property risks is broad and our capacity is substantial.
Recent success stories
Pharmaceutical Manufacturer, WA – Total Insured Value (TIV) approx. $450,000,000
This risk was held by a multi-national insurance broker. We partnered with a local AR and placed 100% of the risk at a significant saving within two weeks.
Lubricant Manufacturer, VIC – TIV approx. $35,000,000
This manufacturer was placed with two local composite insurers. Rates had increased annually for many consecutive years. Chase was able to place 100% of the risk at a significant saving for the insured.
Island Resort, SA – TIV approx. $25,000,000
Our broker partner was struggling. No local insurer or agency showed any interest. Chase was able to write 100% of this risk including $10,000,000 bushfire cover. The quote was turned around in five working days.
Regional pub/hotel/accommodation, WA – TIV approx. $40,000,000
The holding, local insurer decreased its capacity to 50% two weeks prior to renewal. Chase was able to write 50% of the risk to assist. We turned the quote around in five working days and also presented 100% capacity with terms in the same time frame.
Cold Storage, NSW – TIV approx. $50,000,000
Our broker partner was under attack from a multi-national insurance broker. The holding, local insurer came off risk. We helped our broker retain their client with our offer being 10% cheaper than the attacking broker.
Waste Disposal Facility, VIC – TIV approx. $10,000,000
There was no interest from any local insurers or agency. Chase was able to write 100% of this risk despite the challenging business occupation.
Target business segments
- Abattoirs
- Alpine risks
- Cold storage
- Expanded Polystyrene (EPS) construction
- General warehousing & storage
- High value hospitality risks
- Manufacturing and storage, including
» chemicals
» plastics
» recycling industry
» paper processing
- Pharmaceutical industry
- Risks located above the 25th parallel
- Timber mills and woodworkers
Our aim is to simplify the marketing of challenging property placements by providing 100% capacity, minimising the need to seek extensive co-insurer participation and thus reducing the time and cost of implementing solutions.
Contact us
Please reach out to any of our Complex Risks underwriting team to discuss how we can assist. Download our brochure summarising our appetite.
Best Regards,
Sam
Sam Coulson
Underwriting Manager – Complex Risks