What to look for in your Public Entity carrier partners.
At OneBeacon Government Risks, we want to provide you with the necessary tools to succeed as an agent in the public sector. One decision you’ll face quite frequently is how to determine who to partner with when serving the property and casualty insurance needs of your public entity clients. Below we share six important factors to consider when selecting the right carrier for you and your public entity.
- Commitment to Public Entities: Public entity insurance is a niche market with a unique set of insurance needs. OneBeacon Government Risks has been exclusively focused on the public sector for the last ten years. Our dedicated team of business development managers, underwriters, risk control specialists and claims adjusters has a deep understanding of the public sector making us a uniquely qualified carrier.
- Financial Stability: Before choosing a provider, research their financial stability to ensure they are able to meet their insurance obligations long into the future. OneBeacon Government Risks is a member of the OneBeacon Insurance Group which maintains an A rating with A.M. Best as well as A ratings with Moody’s, Standard & Poor’s and Fitch. We are also publicly traded on the New York Stock Exchange under the symbol “OB.”
- Appetite: Approach your potential markets with the right business. OneBeacon Government Risks specializes in mid-sized municipalities and counties, special districts including water, sanitation and fire, non-rail transit authorities and other publicly funded agencies, primarily on an admitted basis. Our product offering includes property, casualty and professional liability comprised of law enforcement, public officials and employment practices liability offered on a fully insured, deductible, self-insured retention or assumed reinsurance basis.
- Services Offered. Your carrier should provide you with more than just insurance solutions. Value-add services are just as important as the product offering. OneBeacon Government Risks offers dedicated risk management specialists who focus on best practices to safeguard your public entity clients. Through exposure analysis, training seminars and claims analysis, our team becomes an extension of your agency and public entity clients.
- What good is a carrier if they don’t deliver excellent claims service when you need it? Our claims examiners hold a diverse background in law with expertise of the nuances of governmental claims, both state and federal including: tort caps; immunities; special defenses; and civil rights statutes. Many of our claims examiners hold a Juris Doctor (JD) Degree.
- Marketing Support: Lastly, find a carrier that offers sales and marketing assistance. Whether it’s through promotional materials, email marketing, or conference support, this assistance will help ease the burden of the marketing function within your agency.
While these may not be all the factors you consider when selecting your carrier, ultimately, it is about satisfying the needs of your clients. If you have any questions or comments about how to determine who to partner with, contact us at firstname.lastname@example.org.