ARMR signature series covers hotels, health care facilities, apartments and more. Hotels, health care facilities and other multi–unit residences have significant indoor and outdoor environmental exposures, whether they are already built or under construction.
Universal exclusions for pollution, mold and bacteria–related losses in property and general liability policies have significantly increased the need for environmental insurance on buildings occupied by people.
You can cover clients with an environmental risk product available on Big “I” Markets. Commissions average 10%, but vary by product.
Mold developing from a simple water intrusion event is a common cause of loss. And there are other exposures, such as lead, asbestos, radon, carbon monoxide, soil contamination, underground storage tanks and bacteria like MRSA and Legionnaires’ disease.
More than 9,000 claims of personal injury, property damage or other loss caused by mold are pending in the nation’s courts, and awards for property damage alone typically range from $200,000 to $400,000. There has been a steady increase in Legionnaire’s claims, including death with loss amounts exceeding millions of dollars.
Members can submit a risk on Big “I” Markets. For general pre–submission inquiries or questions please email Judi Martinez, vice president of American Risk Management Resources Network, LLC. Martinez can also be reached at her office phone, 608–836–9586; by cell, 608–609–0397; or by fax, 608–836–9565.
Learn more at bigimarkets.com.
Andrew McElhannon is the Member Services Coordinator for the Independent Insurance Agents of Georgia www.iiag.org, and can be contacted at: firstname.lastname@example.org or b y phone at 770-458-0093, x.110, or 800-878-6487.