X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

As the economy seems to be heading in a positive direction, one particular contractor experienced abnormal revenue growth of 80% over last year. The increase in work brings a higher potential for losses, increasing vehicle and equipment inventory, and the company’s desire to grow their operations in the sector that has proven to be most profitable to them. As Beacon Hill looked at their upcoming renewal at least 30-45 days before expiration, we certainly noticed all of these changes. Twenty-two midterm endorsements had been issued midterm, for vehicle changes alone. Three new claims had been reported within the previous 6 months and we saw a huge shift in their operations. A company who had historically classified themselves as an Environmental Contractor performing mostly industrial cleaning services now contributed more than 75% of their operations to waste water disposal.  

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.