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Admitted v non-admitted carriers / New insurance PERS program March 23, 2018

KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE
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Admitted v non-admitted carriers / New insurance PERS program
March 23, 2018
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Admitted v non-admitted carriers
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Ken  
    As an independent insurance agency that writes insurance with SARRG (and many other carriers), it is important for everyone to know some of the differences between admitted and non-admitted carriers. 
    We write alarm and PERS dealers throughout the nation, and most of the PERS insurance carriers are non-admitted.  Often times non-admitted carriers offer better rates and better coverage.  It is more important to look at the financial strengths of the carrier than whether they are admitted or non-admitted.  Hopefully this helps clarify admitted and non-admitted.  
    The advice you gave Mike to check with his subscriber for approval was spot on. 
Talk to you soon.
Shawn Iverson, CIC
The Insurance Center
Ogden, UT 84401
801-622-2626
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Ken,
    I saw this newsletter come through and wanted to just share my two cents – there is a difference between Non Admitted and Admitted that is separate from the concern of being Licensed to conduct business in the state of NY. Lloyds of London is 99% of the time a Non Admitted market meaning they may be licensed to conduct business in NY but is not backed by the NY Insurance Commission. If their contract dictates they need an Admitted company they need to most likely not be with Lloyds/SARRG. There are plenty Admitted companies available and that we place companies with. 
    We recently took over the Texas Burglar and Fire Alarm Association as their endorsed broker as we have with Maryland.
Best,
Brian J. Villari, CIC, CLCS, CAWC
Risk Advisor
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New insurance PERS program designed specifically for PERS Dealers
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Ken
    Thank you for your insights into the alarm and PERS industry.  I enjoy reading the emails with questions and answers. 
    I wanted to make you aware of a program we put together designed specifically for the PERS dealer.  We have been writing alarm and PERS dealers for over 10 years, but never has there been an insurance company that wanted or loved PERS dealers.  We were trying to make the insurance carrier write it under alarm dealers or under medical equipment.  Then to get the professional with it was at times challenging.  We began this quest of putting a PERS program together in 2016 and completed it fall of 2017 and launched it at the PERS summit in Deer Valley.  This program takes the best coverages and forms from the other carriers and puts them into this one PERS program.  If you would like to see a sample policy with forms, I would be happy to share it with you. 
    I thought you would want to know of this products availability in all states except Washington.  This is with an AM Best carrier A+ and financial strength of VIII.  Because we designed the program from scratch, we have exclusivity on the product. 
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Response
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    Insurance carriers that write for the alarm industry don't like PERS, though some write it, especially if it's small part of the business portfolio.  
    You don't disclose your carrier, typical rates, coverage issues, if the carrier requires an end user agreement, etc., so I can't comment.  
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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301
ken@kirschenbaumesq.com
516 747 6700
www.KirschenbaumEsq.com