Talk to me about NYC contractors. Thoughts on markets? Plumber that...

Talk to me about NYC contractors. Thoughts on markets? Plumber that is mostly residential, ONLY in the 5 boroughs. Travelers non renewing. He has one claim in 5 years and it's like $70k right now, open, he replaced a pipe in an apartment building and 6 months later the ceiling collapsed on someone. He doesn't close the ceilings or do any drywall so he thinks whoever did that party did a crappy job. I've got an ISC/Sutton and NEP indication. He has about 1.1M in sales, no subs, $188k direct payroll. I've got it out to several wholesalers and I believe the admitted market I've tried declined but of course I can't think of where I went off the top of my head right now. Expiring $43k and my best indication so far is $70k+. Biggest concern is no action over exclusion.

Carriers Mentioned

Travelers Utica National State Farm Trisura

Agent Replies (4)

Agent Reply

Utica National does. Good job with this. They rate on payroll, not sales. Not sure if they would accommodate an open claim though. Other than that, NEC is probably your best bet I would assume.

Carriers mentioned: Utica National
Agent Reply

Hope he doesn't get a State Farm quote because they will be half of the premium of the expiring. I've lost a lot of plumbers in NYC to them lately.

Carriers mentioned: State Farm
Agent Reply

Check if it's eligible for the Patriot program. They target NY plumbers. MGA that works with retailers.

States: New York
Agent Reply

I specialize in NY contractors. Utica National is a must, as recommended above. They can get down to like $110 payroll rate if the account is good, but not sure if they're down with that much subcontracted work. Sutton is going to be one of your more competitive options here, so if you have an indication, prepare for that to be one of your best. Also, look into USMC (Fortegra Specialty MGU) and Patriot Underwriting Managers (Trisura Specialty MGU). Travelers Select's exit from this market is screwing over a lot of people right now. Just not enough options for these mid sized folks.

Carriers mentioned: Travelers, Trisura, Utica National
States: New York

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