why every brokerage should send a person to seip

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Page 1: Why Every Brokerage should Send a Person to SEIP

SEIP AWAKENS: THE ENVIRONMENTAL INSURANCE FORUM IS THE FIRST CONFERENCE IN OVER A DECADE SPECIFICALLY DEVOTED TO ENVIRONMENTAL RISK MANAGEMENT AND ENVIRONMENTAL INSURANCE. ATTENDEES ARE PRESENTED WITH THE EDUCATIONAL TOOLS TO BE MORE EFFECTIVE IN THE USE OF ENVIRONMENTAL INSURANCE. EXPERT PRESENTERS ADDRESS THE ENVIRONMENTAL RISK MANAGEMENT AND INSURANCE NEEDS OF THE CUSTOMER AND PRACTICAL ENVIRONMENTAL INSURANCE SOLUTIONS THAT ADDRESS THOSE LOSS EXPOSURES. EMPHASIS IS PLACED ON INNOVATIVE, STATE OF THE ART SOLUTIONS THAT THE PRACTITIONER CAN EFFICIENTLY THAT THE PRACTITIONER CAN EFFICIENTLY IMPLEMENT!

WHY ATTEND?

WHAT IS SEIP

ENVIRONMENTAL RISK MANAGEMENT

& INSURANCE

ENVIRONMENTAL REGULATION &

LEGISLATION

ENVIRONMENTAL TECHNOLOGIES

CLAIMS HANDLING & MANAGEMENT

ENVIRONMENTAL LENDINGENVIRONMENTAL LENDING

UNDERWRITING PROCESS

SUSTAINABILITY

SEIP IS A 501 C.3 NON-PROFIT ASSOCIATION DEDICATED TO HELPING ITS

MEMEBERS UTILIZE ENVIRONMENTAL INSURANCE PRODUCTS BY

ENHANCING THE PROFESSIONAL CAPABILITIES OF ITS MEMBER THROUGH

,FOCUSED EDUCATIONAL FORUMS, ENHANCED KNOWLEDGE MANAGEMENT

AND ACCESS TO SPECIALIZED MULTI-DISCIPLINED RESOURCES RELATED

TO ENVIRONMENTAL RISK MANAGEMENT

;R

TOPICS

• INSURANCE BROKERS & AGENTS• UNDERWRITERS• ATTORNEY’S• ENGINEERS• LENDERS• CONSULTANTS• PUBLIC POLICY OFFICIALS• PUBLIC POLICY OFFICIALS

WHO SHOULD ATTEND:

ROSEMONTILLINOIS

HYATT ROSEMONTJUNE 8TH -10TH

REGISTER FOR THE EVENTSEIPAWAKENS.EVENTBRITE.COM

SEIPRO.ORGLINKEDIN.COM/SEIP FACEBOOK.COM/SEIPORG

ENVIRONMENTAL INSURANCE FORUM 2016

Page 2: Why Every Brokerage should Send a Person to SEIP

Society of Environmental Insurance Professionals 7780 Elmwood Ave, suite 130 · Middleton, WI 53562

Why Every Insurance Brokerage Firm Needs To Send A Person To The Environmental Insurance Forum

#1. Exceptional new business production opportunities are presented by the effective use of environmental risk management as the door opener to secure all of the insurance coverage lines on a wide range of prospects.

#2. Far reaching exclusions for various forms of “contaminates” have brought the need for environmental insurances to main street America and the agricultural sector for the first time. There are hundreds of thousands of new prospects. Today a hotel owner is a better prospect for EIL coverage than a landfill is. The environmental insurance market place is only 1% market penetrated today.

#3. There is money to be made in this line of coverage. In 2015, two of the top 10 insurance producers in the United States specialized exclusively in the sale of Environmental Insurance products, according to the Insurance Business America magazine rankings.

#4. Without specialized knowledge of environmental risks, there is almost no chance of selling environmental insurance products, at any price, to any business sector. Success in this product line has very little to do with the insurance products themselves. Knowledge of the risks is the primary factor.

#5. The environmental insurance market place is glutted with capacity, over 150 different environmental insurance products are available for sale today. Any legal business activity can be insured today.

#6 Self-preservation for the insurance brokerage firm. A 1% market penetration for environmental insurance products means that 99 out of 100 commercial insurance buyers are inadequately insured for losses associated with contamination today. Most of those clients are ignorantly and needlessly uninsured. Premiums can be under $1,000 for environmental insurance coverage.

#7 With so many different insurance products available, it is extremely easy to make coverage mistakes in placements. In some very common business sectors, like fire and water damage restoration contractors, 9 out of 10 firms are sold inherently defective casualty insurance program designs. The coverage design flaws result in material misrepresentations on insurance certificates. A double whammy for the agency.

#8 To stay out of the professional errors and omissions soup for un-intentionally and needlessly uninsured environmental losses, insurance producers need to;

a. Advise the customer about their environmental (contamination) risks, b. Explain the pollution exclusions on property and liability insurance policies, c. Offer to fill the resulting coverage gaps with appropriate environmental insurance coverage.

The beauty of Claims Made insurance policies is 30 years of client neglect on environmental risks can be erased with one proposal for EIL insurance today.

Summary: There is money to be made to be made in this coverage line, and professional liability risks can easily be avoided at a profit. But it takes subject matter expertise to do so. The Environmental Insurance Forum is the best place to start learning the subject matter in order to get on the road to

success. For More information visit www.seipro.org| [email protected] | 608-824-3340