JM Associates/Burnham + Co., a Division of HUB International Northeast, partnered with The Hartford to create a general liability program for elevator contractors, inspectors, consultants (excluding E&O), manufacturers and distributors. Here, Vice President John Tateossian discusses the program's origins, how it is administered and the complex exposures—and necessary cover—for those who work in the business of transporting human beings from floor to floor.
The National Elevator Insurance Program today is actually the amalgamation of the elevator programs of JM & Associates and Burnham + Co. Burnham began providing insurance for the elevator industry in the 1970s after identifying a need in the marketplace, from both coverage and overall expertise. JM & Associates began writing elevator accounts in the 1990s. Our program today is the culmination of individual client relationships, some going back three generations, as well as consistent involvement and presence in the elevator industry.
In our continued effort to be at the forefront of providing insurance to the elevator industry, we began our partnership with The Hartford in 2012. After 40 years of creating comprehensive insurance and risk management products to the elevator industry, we were excited about embarking in a new partnership with a reputable and valued insurance carrier.
Q How would you describe your company's role in serving clients?
The majority of our employees have over 20 years of experience arranging insurance solutions for customers in all facets of the elevator industry. This level of experience is a prerequisite to adequately service an elevator customer; from the issuance of certificates of insurance, to providing insurance solutions tailored to the elevator industry and finally responding with our Claims team in the event of an incident. A critical aspect of our service comes into play when there is a claim or incident, at which point our Claims team goes into action.
Q What are some of the most common exposures for those who work in the elevator industry?
While there are common exposures consistent with other contracting risks, such as slip and falls or being struck by an elevator door, a risk can vary depending on the type of work and jurisdiction. Our elevator customers most commonly need general liability, workers' compensation, excess liability, commercial auto, property, inland marine and sometimes bonds.
As part of the National Elevator Insurance Program, the general liability provided through The Hartford is done on a first dollar basis, so there is no deductible or self insured retention. This is particularly important because an elevator claim could involve multiple claimants, and in the event that a GL policy is written with a Per Claim deductible, this could be troublesome for an insured.
The General Liability product we provide includes several coverage enhancements, thereby eliminating the need for costly mid year policy changes and addressing the coverage insureds are being required to carry.
The often manuscripted coverage enhancements as part of our General Liability policy include: Per Elevator Aggregates, Blanket Additional Insured coverage, Blanket Waiver of Subrogation coverage, Primary and Non-Contributory coverage and Limited Pollution. We continuously work with our customers as their insurance needs change throughout the year to ensure they are adequately protected.
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