Recent News » How Do I Get Loss Runs? Published 04/2/2007 Ask for them.  While this seems like a very simplistic statement, that is exactly what you need to do.  The key to getting them is who you ask and how you ask.  Whether an agent or an insured, loss run information is critical to getting you the best program at the best rate.  You have to be able to provide complete information to the quoting carriers and you do that with up-to-date loss runs.

Every Insured is entitled to information regarding the plan of insurance they have paid premium for.  While carriers must protect certain data relative to individual claims, they still have an obligation to clients to provide loss information on a timely basis when asked.

If you are an Insured, you can work with your agent to get the information.  Make sure you write a letter on your letterhead, addressed to the carrier that gives your agent the authority to secure loss information on your behalf.  Make sure to include in that letter the policy number(s), effective dates and the type(s) of coverages (i.e. accident, general liability, student, etc.).  Let them know that you know they must provide the information and that you expect the information will be provided within 10 working days.

If you are an agent, ask your client to provide you with the letter described above.  If you do not receive the requested information within a reasonable amount of time, you can certainly follow-up with a stronger letter indicating what your state requirement is for providing such information.  There are some firms that provide assistance in obtaining loss runs.  There would be a fee for that service, but if it gives you an opportunity to better service your client, it may be well worth the cost.

Let us know if we can help!  Just contact us at SMIC@specialmarkets.com

» We Can Do It! Published 04/2/2007 Special Markets Insurance Consultants, Inc. celebrated the opening of their Western Regional Office in Colorado Springs, CO. with a celebratory Open House on Thursday, February 15.  The event was hosted by Ann Baldrica,   the recently appointed Sales Executive for the Western Region. Kim Walker, Chief Executive Officer and Nora Stransky, President, along with Teri Goldberg of the Skokie, office were in attendance to welcome brokers, clients and business leaders in the Colorado Springs community.

"We can do it", the motto for Rosie the Riveter, was the theme of the party. Invitations, décor and costumes all reflected the expansion of SMIC's marketing effort in the sports and special risk arena. While guests played "hallway hockey", Kim Walker mingled with party-goers to discuss SMIC products and their renewed efforts to increase their presence in Colorado and throughout the Western Region.

"We hired Ann Baldrica to lead this expansion because of her knowledge of the special risk business, most notable of which is her background with sports organizations and related risks", explained Kim Walker. Ann has served two Fortune 500 Insurance organizations in an upper management capacity as well as starting and managing her own successful insurance agency".

She brings to SMIC product design and sales knowledge as well as an understanding of the broker community. We expect to increase our product offerings as well as expand our service capabilities by opening this office to serve our Western Region, an area in which we envision substantial growth opportunities", said Walker.

For brokers in all 50 states SMIC is a leader in student accident, special risk, and sports accident coverage.  Experience, innovation and service is what makes us a leader in this specialized field and we urge insurance professionals to contact us because WE CAN DO IT.

» Do Your Schools have a Gap in Coverage? Published 04/2/2007 Spring is just around the corner and schools are re-evaluating their insurance programs.  Is there a gap?

When students are out on the playground or participating in athletics, do school administrators worry about what will happen if there is a serious accident? Accidents do happen. Often times serious enough to incur high medical bills.  Does the school have any obligation to make sure the medical bills are covered?

There are risks inherent in all sorts of school activities.  Even the safest program will never avoid all accidents and injuries.  That's why schools need to make sure there is insurance that covers any of the gaps in the parents' or school's insurance coverage.  For a very nominal fee per student, student accident insurance - both basic and catastrophic - can fill the gaps and cover the larger claims that are above other policy limits.  Limits of coverage can range from $25,000 to $5,000,000.

Our youth are our greatest resource and school administrators and staff need to be focusing on the programs that will develop the skills that will enable children to live a productive and rewarding life.  They shouldn't have to worry about gaps in coverage.  Student Accident and catastrophic medical insurance can give them that peace of mind.

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