Nov 9, 2011 - We are making changes to our appetite and company selection guidelines for hotels in Small Business.
Effective for new business: November 15, 2011
Effective for renewal business: January 15, 2012*
Key changes:
Our revised appetite includes hotels with:
- Well-controlled franchisee agreements with homogenous operations and standardized practices, traditionally part of a national brand. We will no longer be a market for boutique hotels.
- Building age 30 years old or newer.
- 200 rooms/units or less.
Why are we making these changes?
We are making these changes based on our experience in this class. We will continue to write hotels in Small Business that fit our revised appetite and company selection guidelines. Please contact your local Fireman’s Fund representative for more information.
Small Business is Big Business
Small Business is one of the fastest growing segments in the industry, offering you new opportunities to grow your agency. Fireman's Fund offers you unparalleled coverage, a broad appetite, and some of the highest limits available.
- We recently introduced a new Small Business Quote Tool (SBQT) designed to get you your new business quotes faster.
- Our BOP policy is one of the most respected – and mimicked – forms in the industry. That coverage expertise is matched by our capacity with risk size of up to $30 million maximum combined property values per location, with $15 million maximum sales revenue per location.
- Umbrella limits from $5-$10 million in most states (among the highest in the industry).
- We've increased underwriting staff in Small Business to meet the increased demand.
Thank you for making Fireman's Fund your first choice for your Small Business customers.
For additional information on our small business offerings, visit our Small Business page (login required) on the Fireman's Fund Agent Desktop, contact your Fireman's Fund representative, or e-mail an underwriter at smallbiz@ffic.com.
*subject to individual state regulations
The insurance policy, not this communication, forms the contract between the insured and the insurance company. The policy may contain limits, exclusions and limitations that are not detailed in this communication. Coverages may differ by state.
