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Frequently Asked Questions

We have tried to include the most frequently asked questions and answers for your convenience.  If your question is not addressed, we would be happy to answer it for your personally.  Please do not hesitate to call us.

 

1.    What are your minimum premiums?

 

Our minimum premiums are quite low but vary depending upon department, product line and carrier.  For example, our minimum premium in our Environmental Division's below ground / above ground storage tank pollution program is only $350.  If a risk fits our Program Division's binding authority program(s), minimum premiums range from $250 to $2,500 depending upon the line of coverage.  In our General Brokerage Division, minimum premiums are generally between $1,500 - $2,500.  In our Complex Risk (Leverett Brokerage) Division, minimum premiums range from $2,500 - $5,000.

 

2.    How quickly can you provide us with quotes?

 

We understand that you are often under a tight timeframe with limited information available and we try hard to accommodate that.  With a full submission and most necessary information provided to us, we can often turn quotes around in 24 - 48 hours or less.  Please call us to discuss your needs.  In our Environmental Division for example, we can often turn under ground / above ground storage tank pollution quotes around in less than 5 minutes.  In our Program Division, if a risk fits one of our programs, we can sometimes quote within a few hours.

 

3.    What do you need in the way of a submission to provide us with quotes (what constitutes a full submission)?

 

In most situations, all we need are fully completed Acord applications for each line of coverage requested and at least 3 years' worth of currently valued loss runs.  Depending upon the line(s) of coverage, we may also need supplemental applications completed by the insured.

 

In our Environmental Division, depending upon the coverage line, we may also require copies of licenses, certifications, resumes or qualifications of prinicipals, copies of company procedures and the insured's Health & Safety Manual table of contents.

 

4.    Do you offer admitted paper?

 

Depending upon the coverage type and nature of the risk, we have the ability to write with many markets on both an admitted and non-admitted (excess & surplus lines) basis. 

 

5.    If you quote on a non-admitted (excess & surplus lines) basis, how are the taxes, fees and regulatory filings handled?

 

NPM is licensed in all 50 states and the District of Columbia.  It is our strong preference that we make the necessary regulatory filings and collect and remit any taxes or fees that are required since presumably, we are making the placement.  We typically charge nominal additional fees in these situations given the enormous amount of work and expense involved.  In some situations, if our producer can demonstrate to us that they are properly licensed in the jurisdiction and will accept all of the responsibility for the regulatory, compliance and financial risks, we may allow them to make the filings instead of doing it ourselves.  Please discuss this with your NPM representative.