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FEATURES

SPECIAL REPORT: TOP SPECIALIST BROKERS 2017

HIRED AND NON-OWNED AUTO

GDP ADVISORS McKinney, TX

HABITATIONAL INSURANCE

PREFERRED PROPERTY PROGRAM (JGS INSURANCE) Holmdel, NJ

Preferred Property Program is a wholly owned subsidiary of JGS Insurance, specializing in umbrella policies for community associations such as condos, homeowners’ associations, apartments, hotels and motels. “We started writing condominium associations in the late 1970s and recognized that this was very different from any other type of commercial real estate being built,” says Ken Hager, president of Preferred Property Program. “Our office was one of the founding members of the

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New Jersey Chapter of the Community Associations Institute [CAI], a nonprofit dedicated to the betterment of associations. We have remained very active in this organization, as well as a number of others, to keep abreast of the unusual exposures facing community associations. This has allowed us to develop very specific programs for these unique exposures, and as a result, many brokers across the US come to us for our specialty products. In New Jersey, our parent corporation, JGS Insurance, assists hundreds of communities on a retail basis.” As an MGA representing numerous commercial insurance companies, Preferred Property’s primary specialty is umbrella habitational policies from $1 million to $100 million, but the firm also offers policies for environmental impairment liability, workers’ compensation and equipment breakdown.

For more than 20 years, GDP Advisors has insured pizza delivery restaurants such as Papa John’s and Domino’s, providing not only the usual workers’ compensation and employment practices liability, but also coverage for hired and non-owned auto, as well as employee benefit plans for franchises. “GDP Advisors focuses on emerging risks that face our customers, which makes us stay ahead of the marketplace,” says GDP partner John Powter. “Our challenge is identifying gaps or needs in the marketplace and finding a solution and carrier partner that is willing to underwrite those risks at a competitive price and coverage combination. Take our pizza delivery program: 94% of our drivers have zero violations. If you took that same group of 20,000 drivers to an insurance carrier, they would love it, but because it’s pizza delivery, they won’t talk to you. [The challenge] is finding those disconnects in the marketplace that have a long-term strategic vision in regard to managing risk.”

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17/02/2017 10:51:57 AM

Profile for Key Media

Insurance Business America issue 5.02  

The magazine for America’s insurance broking and advice community.

Insurance Business America issue 5.02  

The magazine for America’s insurance broking and advice community.

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