Agency Specialty Product Network Insurance Services has announced a new coastal and commercial wind program from Performance Insurance Services, exclusively for ASPN agents and brokers.
This new, property-only program is available to all commercial property classes located on coastal waters – except for Florida.
While there are no set limits for this program, Performance Insurance Services prefers to write accounts with a total TIV under $5 million, but is willing to offer quotes for large risks as well. Optional coverages include earthquake, all types of business income, and builders’ risk. Coverage is replacement cost or ACV loss settlement valuations.
Tim Craig, president and CEO of Performance Insurance Services, said: Underwritten in London, the program features property insurance policies without wind and hail exclusions. Premiums and rates are competitive
Jerry Tegan, president of Agency Specialty Product Network Insurance (ASPN), added: Performance Insurance Services ultimately developed this product solely on its own, with assistance from their London broker. The facility fills a tremendous gap in coverage for many ASPN agents who have commercial clients located on coastal waters.