Purpose:
Support brokers on subscription policies, notably the last 5-10% of any one risk/policy. Our aim is to take a portfolio approach versus underwrite each risk which requires good submission flow from supporting brokers (key concern is anti-selection).
Criteria:
- Fortress TIV up to $3 million per location
- No high-hazard CAT exposure – earthquake in BC, 100-year flood zones or less
- One domestic participant on each risk (includes all the main markets)
- Domestic Insurer commercial property wording
- Key Exclusions: Communicable Disease, Cyber, Terrorism
- Offer competitive rates and deductibles
Process:
Submit full package to quoterequests@fortressinsurance.ca; our underwriters will review and confirm participation.
Usually best to send risk once lead terms are established.
Benefits:
- New capacity!
- Quick turnaround times (target is 48-72 hours)
- Will accept wide range of risks
- Will generally follow lead on terms, pricing and claims
- Supported by our global reinsurance partner
- Success of our facility will be based on volume and profitability, we have minimum volume commitments