New Product: Lessor’s Risk Only

New Product: Lessor’s Risk Only

New Product: Lessor’s Risk Only
By 
Pathpoint
Apr 13, 2021
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We are excited to share with you the launch of our new Lessor’s Risk Only (LRO) product! We focused on simplifying our online application for Commercial Package & Standalone GL, allowing agents to access comprehensive non-admitted coverage solutions for property owners with a single application

Our new LRO product includes key improvements from the recently released GL Contractors offering, including a shortened, targeted question set, immediate eligibility feedback, and auto-quoting. But LRO takes these improvements even further, applying them to a shorter, simpler property flow. Agents will be able to bind both stand-alone GL and Package quotes for their LRO accounts, including auto-quoting for Total Insurable Values up to $2.5M.

“Many of the small business agents we work with have shared that LRO is an increasingly in demand class of coverage for their clients, yet the traditional E&S placement process makes it cumbersome and often unprofitable for them to place the business,” said Bobby Touran, Co-Founder and CEO of Pathpoint. “In continuing to put the needs of agents and their clients above all else, we made it a priority to simplify the process for agents to give their clients the coverage they need easily and quickly through the Pathpoint platform.”

"Since Pathpoint’s online solution is so easy to use, I use Pathpoint for all my non-admitted Lessor’s Risk Only policies,” said Solid Insurance agent Eric Heitner.

“Building on the momentum that we’ve been generating with our non-admitted contractor offering, this is another line of business that agents are placing every day and increasingly on a non-admitted basis, given today’s difficult operating environment,” Touran added.

Commercial retail properties including banks, offices, shopping centers and malls all fall within our LRO appetite focus. Like all of Pathpoint’s offerings, the LRO product is delivered through our market-leading online platform, with Pathpoint serving as the surplus lines agent and handling all servicing and compliance on the back-end. The LRO offering launches in all 50 states, with support for many of the most commonly requested geographies by agents, including Florida, California, Texas, and the Mid Atlantic.

Key occupancies include:

  1. Restaurants
  2. Retail
  3. Dwellings
  4. Offices

Find our full LRO appetite on our website https://www.pathpoint.com/products/lessors-risk-only

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