ABOUT SPECIAL LIABILITY ADVISOR

Special Liability Advisor includes a breakdown of liability premium for General Liability and Special Liability lines to perform in depth analyses of these markets.

Insurers are able to report detailed information on:

Products & Completed Operations (Products)

Premises & Current Operations (Premises-Op)

Errors & Omissions / Professional (E & O)

Directors & Officers (D & O)

Employment Practices (EPLI)

Fiduciary

Special Liability Advisor is highly applicable to underwriting and marketing processes for insurers creating a clearer picture of this focused market landscape.

The special liability market is riddled with challenges that include litigation turmoil, increasing claims severity and uncertainty on actual cost of coverage.

THE KEYS TO SUCCESS:

Maximize cross-sell opportunities

Determine penetration by size segment and class of business

  • For your territory
  • For current book of business

Compare penetration rates to identify opportunities on additional lines

Balance premium potential vs. risk

Accurate tracking of exposure basis is critical to correct pricing of coverage

Business growth that is either too slow or too fast increases risk

FOR UNDERWRITING:

Accurately measure exposures for professional liability

Spot classes of business in with D&O coverage that should be re-underwritten due to their negative growth outlook

Assess exposure by both employment and payroll for the EPLI market

Assess core Premises & Operations liability coverage in context of entire potential liability coverage

FOR MARKETING:

See where premium potential for targeted classes actually exists

Assess where account coverage is minimal for missed opportunities

More effectively allocate resources

 

Special Liability Product Offerings

Like Commercial Insight, Special Liability Advisor provides the capability to size and segment the commercial insurance market by multiple dimensions: location, business class and business size. Liability premium estimates are developed from the “bottom-up” using that business demographic and exposure data to produce statistically accurate premium information. Insurers can then analyze the market at detailed levels of granularity, differentiating between the various liability lines of business.