CrossCover is focused on writing small commercial E&S property risks across the country working directly with retail agencies. Everything is quoted online, and you can get instant, bindable quotes in just minutes. Earn a starting commission of 10% on New Business and Renewals, 11% for a book size of $250K to $500K, and 12% for a book size over $500K. Watch the webinar recording below to see how you can leverage CrossCover for your clients.
E&S Insurance Product Overview
Wesley presented an overview of their E&S insurance products, focusing on their primary offering of monoline Property insurance with a $7.5 million TIV limit that will increase to $10 million on 3/1, and a secondary package product for specific premises-driven risks. They emphasized their broad appetite for various occupancy types, excluding hotels, motels, and agriculture, while highlighting their proprietary all-risk manuscript form and seamless quoting process for combined property and GL policies. The presentation concluded with plans for Sean to demonstrate their online platform, followed by a Q&A session.
Streamlined Portal for Insurance Quotes
Shawn demonstrated the portal's user-friendly interface for submitting property insurance quotes, emphasizing its simplicity and efficiency. He explained key features such as bindable quotes, automatic flood quotes, and the ability to adjust deductibles, while noting that underwriters have the flexibility to review cases outside the system. Shawn highlighted that the portal streamlines the process for small commercial insurance, aiming to make it more profitable for brokers with quicker turnaround times. He encouraged feedback to improve competitiveness and emphasized their focus on usage over production requirements.
Property Insurance and Billing Updates
Wesley discussed key points about property insurance, including that they cover coastal properties up to 1,000 feet from water, have no year-built restrictions, and can insure vacant buildings and churches, though older ones require careful evaluation. He clarified that 24/7 convenience stores are insurable with a property credit, but GL coverage isn't offered for gas station convenience stores unless the tenant is low-risk. Wesley also mentioned their enthusiasm for self-storage businesses and upcoming GL product offerings. First provided information on policy billing, using Ascend as their payment partner, offering various payment options including online ACH, mailing checks, or financing. First also explained how agents can get appointed through the carrier store, noting that the recorded session would be available in the Resource Center.
Direct Market Insurance Approach Overview
CrossCover representatives Wesley and Shawn discussed their direct market approach for retail agents and E&S business, emphasizing faster underwriting decisions and direct agent relationships. They clarified their coverage offerings, including property insurance for churches and dealerships, while noting limitations on GL coverage for certain risks. Wesley mentioned plans to expand GL self-storage coverage by March 15 and outlined their appetite for various business types, including a preference for boutique hotels over large chain properties. The team addressed questions about underwriting requirements, producer designations, and access to their system, with First Connect offering support for agents seeking appointment.