Primary & Lead Excess for $255M for Battery Manufacturer Construction in Washington
- Project Specific (OCIP)
- $255M battery manufacturer construction project
- Washington
- 1.5-year term
- Admitted General Liability
- Primary $2M / $4M / $4M
- Lead $5M
Shepherd launched capabilities to support primary casualty coverage for contractor practice programs and projects, including wrap-ups and JVs. These new products complement Shepherd’s existing excess program. Over the last few months, our fastest segment for primary placements has been project specific placements. This case study highlights how our multi-product approach is contributing to these wins and the exciting expansion of our portfolio.
This opportunity came from a broker team that Shepherd had past success with on excess placements. Leveraging this positive momentum and the ability to offer admitted coverage in Washington, we were given the opportunity to look at the primary program for this insured.
We were drawn to the account due to our strong appetite for infrastructure, manufacturing, and technology projects. We underwrote both the first name insured (owner) as well as the contractor performing the work, including their proposed use of technology on this project. Recognizing the potential to be involved with this program, we quickly positioned ourselves as a strong partner for both the primary and excess layers.
Our team took the time to delve into the intricacies of the program alongside the broker to understand the unique coverage requirements. This collaborative approach enabled us to provide a tailored solution for both the primary and excess layers that met all the coverage needs. In summary, Shepherd was successful in placing the primary $2M General Liability policy along with a supported lead $5M umbrella.
These efforts showcase our goal of building long-term partnerships with our broker partners and insureds. As we continue to grow our primary portfolio, we remain committed to delivering the exceptional service our partners have come to expect from us!
Program Type
- Project Specific (OCIP)
- $255M battery manufacturer construction project
- Washington
- 1.5-year term
Placement Profile
- Admitted General Liability
- Primary $2M / $4M / $4M
- Lead $5M
Background
Shepherd launched capabilities to support primary casualty coverage for contractor practice programs and projects, including wrap-ups and JVs. These new products complement Shepherd’s existing excess program. Over the last few months, our fastest segment for primary placements has been project specific placements. This case study highlights how our multi-product approach is contributing to these wins and the exciting expansion of our portfolio.
How it came together
This opportunity came from a broker team that Shepherd had past success with on excess placements. Leveraging this positive momentum and the ability to offer admitted coverage in Washington, we were given the opportunity to look at the primary program for this insured.
We were drawn to the account due to our strong appetite for infrastructure, manufacturing, and technology projects. We underwrote both the first name insured (owner) as well as the contractor performing the work, including their proposed use of technology on this project. Recognizing the potential to be involved with this program, we quickly positioned ourselves as a strong partner for both the primary and excess layers.
Our team took the time to delve into the intricacies of the program alongside the broker to understand the unique coverage requirements. This collaborative approach enabled us to provide a tailored solution for both the primary and excess layers that met all the coverage needs. In summary, Shepherd was successful in placing the primary $2M General Liability policy along with a supported lead $5M umbrella.
These efforts showcase our goal of building long-term partnerships with our broker partners and insureds. As we continue to grow our primary portfolio, we remain committed to delivering the exceptional service our partners have come to expect from us!
