$25M General Contractor in Florida
Insured Profile
- General contractor specializing in heavy civil, marine, and bridge work
- Headquartered in Florida
- Operations in Florida
Placement
- Contractor practice program
- $5M x $5M x P follow-form excess liability policy
Working with Shepherd
We received this new business submission for a 12/31 effective date shortly after a meeting with the brokerage team. We provided our initial indication and held a call for follow-up within 24 hours of receiving the submission. We provided our initial proposal one business day after receiving the underlying terms and presented two different pricing options to assist the broker with placement.
Why We Won
Despite the difficult Florida venue, our ability to meet with the brokerage team in-person ahead of this renewal allowed our team to discuss our appetite for this exposure and get more familiar with the risk. We quoted two layers of this insured’s program, providing optionality to the program. Close communication with the broker to understand the clients’ needs helped secure our placement in the tower. Our team’s overall responsiveness and transparency throughout the underwriting process built confidence and trust helping secure this placement with Shepherd as a new market.
The success of this partnership started in advance of the renewal cycle. The Shepherd team is collaborative and always looking to provide solutions. Knowing we needed to restructure this excess program, we began discussions months ahead of marketing. In turn, Shepherd was able to quickly underwrite and provide two different layering options well before our need-by date. This gave us ample time to position them within the tower in a place that was beneficial for all parties, most importantly the insured.
Meet the underwriter
Costas Hadjipateras
Costas has 11 years of underwriting and management experience in the casualty space. Costas started his career with Chubb's primary Construction Group in Los Angeles, and eventually managing the Foreign Casualty unit for Chubb's Pacific Region. Before joining Shepherd he was most recently with the Hartford, where we has an Executive Underwriter in their Northern California Middle Market Division.