New Empire Group’s CondoPak Suits Eastern-Based Agents
IA Magazine
May 2015
PRODUCT: CondoPak condominium coverages
COMPANY: HDI-Gerling America Insurance Co.
BEST RATING: A XV (Excellent)
AVAILABILITY: Available to select agents in 26 states.
FOCUS: After 15 years of experience offering umbrella coverage for condominiums, New Empire has launched CondoPak in 26 Eastern states, aiming to capture business in high-end condominiums, cooperatives and other community associations with building values up to $25 million.
New Empire, a nationally licensed program administrator, seeks retail agents with significant books or a niche business in condos. “We want agents who work in the condo field, specialize in the coverages and don’t necessarily have to be taught,” says Robert Mackoul, senior vice president and chief underwriting officer of New Empire. “We want to work with agents who work with condos every day, who know the ins and outs of the condo and the industry itself.”
Because condo umbrella coverage has been the group’s specialty for years, “we have the foundation after the house, so to speak,” Mackoul says. “It’s been a niche we’ve carved for ourselves over many years. It’s what we know.” The firm also has programs in commercial umbrella, property manager E&O, cyber, storage tank and site pollution, commercial inland marine and D&O for community associations—most of which are national programs that focus on apartments, retail strips, warehouses and office buildings. Mackoul says the company also has plans to make the condo program national.
Although it’s only two years old, the program has already developed its first enhancement, now offered in six states. The original filing remains available in the other 20.
Read full article here.
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