Wisconsin-based Capitol Insurance Companies recently announced significant enhancements to its umbrella product. According to a release issued by the company, minimum premiums have been reduced up to 40 percent along with lower pricing per layer. In addition, Capitol has expanded its underwriting eligibility.
“The umbrella line of business has historically performed very
well, which is why we want to continue to provide a highly competitive
product for our agents,” said Mark Morrison, director of Underwriting for Capitol Insurance Companies.
Morrison listed recent enhancements that include: expanded underwriting eligibility guidelines; improved product pricing and reduced minimum premiums; broadened coverage terms and conditions; simplified rating process; and, extended limited underwriting authority to agents.
“These dramatic changes make us highly competitive and easier to do
business with,” commented David Pauly, Capitol chairman and CEO. .
Capitol can provide up to $5 million in umbrella capacity for a number
of specialty classes, including contractors, martial arts studios,
amusement centers, special events, hotels, apartments, condominiums, beauty salons, tanning facilities, restaurants and bars.
Headquartered in Madison, Wis., the Capitol Insurance Companies is a national underwriter of specialty insurance products in niche areas of the commercial property and casualty and the fidelity and surety markets.
Source: Capitol Insurance Companies
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