| KANE Insurance Brokerage Services, LLC |
In conjunction with our partners Kane Insurance Brokerage Services has provided
improved risk financing and insurance solutions under the following type of scenarios:
Scenario #1 -
Type of Insured: Plastering Contractor
Line of Coverage: Commercial Auto Insurance
Incumbent Carrier: GMAC Insurance
Incumbent Premium: $22,800
Narrative: We bound this Long Island based account about four months after marketing
the insurance program and doubling the limits for a premium of $13,600 or a $9,200
savings. The contractor took such a long time to decide because of a personal
relationship with their incumbent broker and the disbelief of such a reduction!
Scenario #2 -
Type of Insured: Family Living in Westhampton
Line of Coverage: Auto Insurance
Incumbent Carrier: The Hartford
Incumbent Premium: $6,600.00
Narrative: The incumbent insurance company was offering a flat renewal for this
husband, wife and college student. We were able to secure equal coverage for $3,790
in annual premium within 24 hours; $2,810 less than the renewal or a 43% discount.
Scenario #3 -
Type of Insured: New Westchester Based Restaurant
Line of Coverage: Commercial Package & Liquor Liability / Workers Comp
Narrative: The owners of this new family / sports restaurant in Westchester called
looking to secure insurance at a competitive rate so they may begin improvements and
alterations to the existing building and workers compensation so they may secure their
NY Liquor License. We returned quickly with a very competitive and thorough program.
Scenario #4 -
Type of Insured: Residential General Contractor
Line of Coverage: Commercial General Liability / Excess Liability
Incumbent Carrier: Aspen Specialty Insurance Company
Incumbent Premium: $110,000.00
Narrative: After conducting a due diligence of this prospect, we identified fees that the
Insured was unaware the incumbent broker was charging. Further review and a review
of the marketplace, we were given an opportunity to search for an improved program
mid-term. Our efforts found better terms and conditions, as well as a savings of
$60,000. Since binding on these lines of insurance, we were able to find a workers
compensation option that offered 30% savings through a safety group and have bound
that coverage.
Scenario #5 -
Type of Insured: Family Living in Hampton Bays
Line of Coverage: Homeowners' Insurance
Incumbent Carrier: Allstate
Incumbent Premium: $2,500.00
Narrative: The incumbent insurance company was cancelling the expiring policy due to a
change in underwriting appetite as it relates to properties near coastal waters. We were
able to secure coverage at a small discount from the expiring policy within 24 hours.
Scenario #6 -
Type of Insured: Temporary Staffing Company
Line of Coverage: Workers' Compensation / Commercial Package Policy
Incumbent Carrier: No Prior Coverage / Premium
Narrative: As a retired Human Resources Director of a Fortune 500 company, this
entrepreneur decided to start his own staffing firm. After evaluating the business model
and the anticipated liabilities that he would incur, while also reviewing the contractual
requirements that the companies he will be supplying with temporary staffing
demanded; we approached our market relationships and secured coverage at 30%
below our competition. Additionally, we have committed to premier service agreements.
Scenario #7 -
Type of Insured: Restoration Contractor
Line of Coverage: Contractor's Pollution Liability
Incumbent Carrier: No Prior Coverage / Premium
Narrative: Upon this contractor being required to provide evidence of pollution liability
coverage to clients that represent 5% of his overall $1mm in revenues; we were able to
secure coverage with an A XV Best Rated Carrier for the minimum premium of $5,000.
Our relationship is incidental with the Insured and were able to out perform their
incumbent commercial liability broker - as a result of our diligent marketing on this
program and their familiarity with our service standards to many of this contractors subs,
we have been offered the Insureds primary program.
Scenario #8 -
Type of Insured: Steel Installation Contractor
Line of Coverage: Commercial General Liability
Incumbent Carrier: State Farm
Narrative: After an extensive timely due diligence amongst the standard market, we
transitioned to the surplus lines market place in order to find the per project aggregate
limits as well as terms and conditions being required by a new large general contractor
that this steel installation sub-contractor had secured a contract. The quote our A Rated
carrier proposed satisfied the terms, conditions and limit requirements and although the
$50,000 was a significant increase to this contractor, the premium represented
approximately a 20% reduction off the market place for the work he was now conducting.
Scenario #9 -
Type of Insured: Carpet and Upholstery Cleaning Contractor
Line of Coverage: Commercial Auto Insurance
Incumbent Carrier: Allstate
Incumbent Premium: $9,227.00
Narrative: In the course of two hours of marketing we were able to secure replacement
commercial auto insurance coverage with one of our A rated carriers at the same limits
of $300,000 combined single limit for $4,800 - or a savings of $4,427!
Scenario #10 -
Type of Insured: New York Vending Machine Contractor
Line of Coverage: Workers' Compensation
Incumbent Carrier: New York State Insurance Fund
Incumbent Premium: $12,996.34
Narrative: At the conclusion of our two week marketing period, we were able to secure
coverage outside the New York State Insurance Fund with an A rated carrier for $7,190 -
or a savings of $5,806.34; while also introducing added value payroll services!
Scenario #11 -
Type of Insured: Commercial Real Estate Owner
Line of Coverage: Commercial Property and General Liability Insurance
Incumbent Carrier: Scottsdale
Incumbent Premium: $17,142.00
Narrative: The Insured had been given his renewal quote two days before the effective
date with a realization of over a 40% increase with no losses in his profile for 10 years
plus. Upon our becoming involved, developing a complete submission for both the
commercial property and general liability coverages we returned within the month with a
combined premium of $10,920.30 - or a savings of $6,221.70!
Scenario #12 -
Type of Insured: New York City Technology Firm
Line of Coverage: Director's & Officer's / Professional Liability Insurance
Incumbent Carrier: AXIS / Executive Risk
Incumbent Premium: $12,960.00
Narrative: In the course of our providing risk management, due diligence and insurance
services for a private equity firm; this portfolio company was required to secure both D&O
coverage and E&O coverage. Upon the completion of our due diligence, we used that
information to bind on this competitive quote and retain the business for multiple years.
Scenario #13 -
Type of Insured: Fuel Oil Dealership
Line of Coverage: Commercial Auto, General Liability and Property Insurance
Incumbent Carrier: StarNet Insurance Company
Incumbent Premium: $32,570.00
Narrative: One particular regional prospect for our Long Island service center had been
complaining about a lack of service from their current brokerage - whose specialty was
advertised as the fuel oil dealer business. Two specific complaints dealt with an
absence to provide support upon a loss and the last minute presentation of renewal
proposals. Thirty days after sending a complete submission to an A rated insurance
company which we are appointed, we responded with a 12% discounted proposal,
saving $3,908 at $28,662 in premium for all lines of coverage. Terms, conditions,
deductibles and service were improved and articulated in our scope of services proposal.
Scenario #14 -
Type of Insured: Family Living in the Metropolitan New York Area
Line of Coverage: Homeowners' Insurance
Incumbent Carrier: Tower Insurance Company
Incumbent Premium: $1,350
Narrative: Upon our gaining access to a number of AM Best A Rated personal lines
insurance carriers, we are able to leverage our experience to gain individuals and
families the same advantages our commercial Insureds realize. The success we found
for this New York family earned a cost savings of approximately $400; along with
coverage enhancements, for their new years homeowners' insurance renewal.
Scenario #15 -
Type of Insured: New York Regional Trucking Company
Line of Coverage: Commercial Auto Insurance
Incumbent Carrier: Lincoln General
Incumbent Premium: $24,000
Narrative: Within a period of 24 hours, we secured coverage with one of our A Rated
companies, offering an approximate premium savings of $7,000.
improved risk financing and insurance solutions under the following type of scenarios:
Scenario #1 -
Type of Insured: Plastering Contractor
Line of Coverage: Commercial Auto Insurance
Incumbent Carrier: GMAC Insurance
Incumbent Premium: $22,800
Narrative: We bound this Long Island based account about four months after marketing
the insurance program and doubling the limits for a premium of $13,600 or a $9,200
savings. The contractor took such a long time to decide because of a personal
relationship with their incumbent broker and the disbelief of such a reduction!
Scenario #2 -
Type of Insured: Family Living in Westhampton
Line of Coverage: Auto Insurance
Incumbent Carrier: The Hartford
Incumbent Premium: $6,600.00
Narrative: The incumbent insurance company was offering a flat renewal for this
husband, wife and college student. We were able to secure equal coverage for $3,790
in annual premium within 24 hours; $2,810 less than the renewal or a 43% discount.
Scenario #3 -
Type of Insured: New Westchester Based Restaurant
Line of Coverage: Commercial Package & Liquor Liability / Workers Comp
Narrative: The owners of this new family / sports restaurant in Westchester called
looking to secure insurance at a competitive rate so they may begin improvements and
alterations to the existing building and workers compensation so they may secure their
NY Liquor License. We returned quickly with a very competitive and thorough program.
Scenario #4 -
Type of Insured: Residential General Contractor
Line of Coverage: Commercial General Liability / Excess Liability
Incumbent Carrier: Aspen Specialty Insurance Company
Incumbent Premium: $110,000.00
Narrative: After conducting a due diligence of this prospect, we identified fees that the
Insured was unaware the incumbent broker was charging. Further review and a review
of the marketplace, we were given an opportunity to search for an improved program
mid-term. Our efforts found better terms and conditions, as well as a savings of
$60,000. Since binding on these lines of insurance, we were able to find a workers
compensation option that offered 30% savings through a safety group and have bound
that coverage.
Scenario #5 -
Type of Insured: Family Living in Hampton Bays
Line of Coverage: Homeowners' Insurance
Incumbent Carrier: Allstate
Incumbent Premium: $2,500.00
Narrative: The incumbent insurance company was cancelling the expiring policy due to a
change in underwriting appetite as it relates to properties near coastal waters. We were
able to secure coverage at a small discount from the expiring policy within 24 hours.
Scenario #6 -
Type of Insured: Temporary Staffing Company
Line of Coverage: Workers' Compensation / Commercial Package Policy
Incumbent Carrier: No Prior Coverage / Premium
Narrative: As a retired Human Resources Director of a Fortune 500 company, this
entrepreneur decided to start his own staffing firm. After evaluating the business model
and the anticipated liabilities that he would incur, while also reviewing the contractual
requirements that the companies he will be supplying with temporary staffing
demanded; we approached our market relationships and secured coverage at 30%
below our competition. Additionally, we have committed to premier service agreements.
Scenario #7 -
Type of Insured: Restoration Contractor
Line of Coverage: Contractor's Pollution Liability
Incumbent Carrier: No Prior Coverage / Premium
Narrative: Upon this contractor being required to provide evidence of pollution liability
coverage to clients that represent 5% of his overall $1mm in revenues; we were able to
secure coverage with an A XV Best Rated Carrier for the minimum premium of $5,000.
Our relationship is incidental with the Insured and were able to out perform their
incumbent commercial liability broker - as a result of our diligent marketing on this
program and their familiarity with our service standards to many of this contractors subs,
we have been offered the Insureds primary program.
Scenario #8 -
Type of Insured: Steel Installation Contractor
Line of Coverage: Commercial General Liability
Incumbent Carrier: State Farm
Narrative: After an extensive timely due diligence amongst the standard market, we
transitioned to the surplus lines market place in order to find the per project aggregate
limits as well as terms and conditions being required by a new large general contractor
that this steel installation sub-contractor had secured a contract. The quote our A Rated
carrier proposed satisfied the terms, conditions and limit requirements and although the
$50,000 was a significant increase to this contractor, the premium represented
approximately a 20% reduction off the market place for the work he was now conducting.
Scenario #9 -
Type of Insured: Carpet and Upholstery Cleaning Contractor
Line of Coverage: Commercial Auto Insurance
Incumbent Carrier: Allstate
Incumbent Premium: $9,227.00
Narrative: In the course of two hours of marketing we were able to secure replacement
commercial auto insurance coverage with one of our A rated carriers at the same limits
of $300,000 combined single limit for $4,800 - or a savings of $4,427!
Scenario #10 -
Type of Insured: New York Vending Machine Contractor
Line of Coverage: Workers' Compensation
Incumbent Carrier: New York State Insurance Fund
Incumbent Premium: $12,996.34
Narrative: At the conclusion of our two week marketing period, we were able to secure
coverage outside the New York State Insurance Fund with an A rated carrier for $7,190 -
or a savings of $5,806.34; while also introducing added value payroll services!
Scenario #11 -
Type of Insured: Commercial Real Estate Owner
Line of Coverage: Commercial Property and General Liability Insurance
Incumbent Carrier: Scottsdale
Incumbent Premium: $17,142.00
Narrative: The Insured had been given his renewal quote two days before the effective
date with a realization of over a 40% increase with no losses in his profile for 10 years
plus. Upon our becoming involved, developing a complete submission for both the
commercial property and general liability coverages we returned within the month with a
combined premium of $10,920.30 - or a savings of $6,221.70!
Scenario #12 -
Type of Insured: New York City Technology Firm
Line of Coverage: Director's & Officer's / Professional Liability Insurance
Incumbent Carrier: AXIS / Executive Risk
Incumbent Premium: $12,960.00
Narrative: In the course of our providing risk management, due diligence and insurance
services for a private equity firm; this portfolio company was required to secure both D&O
coverage and E&O coverage. Upon the completion of our due diligence, we used that
information to bind on this competitive quote and retain the business for multiple years.
Scenario #13 -
Type of Insured: Fuel Oil Dealership
Line of Coverage: Commercial Auto, General Liability and Property Insurance
Incumbent Carrier: StarNet Insurance Company
Incumbent Premium: $32,570.00
Narrative: One particular regional prospect for our Long Island service center had been
complaining about a lack of service from their current brokerage - whose specialty was
advertised as the fuel oil dealer business. Two specific complaints dealt with an
absence to provide support upon a loss and the last minute presentation of renewal
proposals. Thirty days after sending a complete submission to an A rated insurance
company which we are appointed, we responded with a 12% discounted proposal,
saving $3,908 at $28,662 in premium for all lines of coverage. Terms, conditions,
deductibles and service were improved and articulated in our scope of services proposal.
Scenario #14 -
Type of Insured: Family Living in the Metropolitan New York Area
Line of Coverage: Homeowners' Insurance
Incumbent Carrier: Tower Insurance Company
Incumbent Premium: $1,350
Narrative: Upon our gaining access to a number of AM Best A Rated personal lines
insurance carriers, we are able to leverage our experience to gain individuals and
families the same advantages our commercial Insureds realize. The success we found
for this New York family earned a cost savings of approximately $400; along with
coverage enhancements, for their new years homeowners' insurance renewal.
Scenario #15 -
Type of Insured: New York Regional Trucking Company
Line of Coverage: Commercial Auto Insurance
Incumbent Carrier: Lincoln General
Incumbent Premium: $24,000
Narrative: Within a period of 24 hours, we secured coverage with one of our A Rated
companies, offering an approximate premium savings of $7,000.
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Case Studies
Copyright Kane Insurance Brokerage Services, LLC - All Rights Reserved 2007 / PRIVACY
We are a Socially, Environmentally and Physically Conscience Company
New York, NY Westhampton Beach, NY
212-784-6199 631-259-6157
212-784-6199 631-259-6157