Generally speaking, personal and commercial insurance policies are the most commonly sought after policies. Many agencies can offer general policies to cover common exposures and risks. In some cases, these generic policies are not enough. Special risks insurance brokers are able to offer coverage that fills in the gaps with risks and exposure not traditionally covered by other policies.
Who Can Offer It?
As you search for an insurance provider, more than likely you will start with local agencies. At times, smaller companies are able to offer comprehensive policies for your needs but through nationwide carriers. However, sometimes smaller agencies do not have the experience or opportunity to access special risk policies and you must look to a broker with a more nationwide market.
What are Special Risks?
In addition to the general liabilities associated with business ownership, such as property, theft or employee benefits, some industries have particular exposures to unique situations. Some of these industries include:
- General contracting
- Oil and Gas
- Equipment Leasing
- Parking and Valet operations
- Sports and Events
Because the potential areas of concern are not standard for each business, it takes a broad understanding of the insurance market, coverage options and risk management to underwrite an effective policy. Special risk insurance brokers have this experience and can best address your insurance needs.