Richardson Oilseed Products (US) Limited
We reached out to Shepherd shortly after learning of their ability to quote a primary GL only OCIP. We knew of their excess capabilities, but the primary program was key. It was a difficult project in that there were multiple parts and the Shepherd team demonstrated their expertise and qualifications in providing a program that was not only cost effective but also provided the terms and conditions the client required. I was thoroughly impressed with Shepherd’s leadership team and their willingness to have a call with the risk manager. They were open to further discussions around program agreement and found a way to accommodate our requests. I have recommended working with Shepherd to my colleagues.
- OCIP
- $171M Oil Refinery Construction
- 3-year project
- Admitted General Liability
- Primary $2M / $4M / $4M
- Lead $5M
Shepherd announced its expansion into primary casualty lines last year, supporting contractor practice programs with 3-line solutions or standalone projects including wrap ups and JVs. We supplemented this expansion with additional capability for non-admitted GL wrap ups. With these new products coming online, we doubled-down on our commitment to provide the same speed and service that our partners have experienced when working with our team on excess placements.
This submission was received from a brokerage team that we've had significant success with throughout the past year. After reviewing the opportunity, we were eager to collaborate with our new offerings. Immediately upon receiving approval for our admitted filings in Tennessee, we provided our formal indication expressing our appetite for the primary GL and lead layer.
Over the coming weeks, our team partnered closely with the broker to address coverage nuances and final terms. Our underwriting team demonstrated responsiveness and expertise to meet the insured’s coverage requirements. Underwriting for both the primary and excess was streamlined within Shepherd, and both proposals were released together at the same time. Ultimately, we secured these placements due to our rapid and thorough communication paired with competitive pricing, terms, and conditions. We are proud to be partnering with this client and look forward to future success with the broker team.
Program Type
- Project Specific (OCIP)
- $171M Oilseed Refinery Renovation Project
- Tennessee
- 3-year term
Placement Profile
- Admitted General Liability
- Primary $2M / $4M / $4M
- Lead $5M
Background
Shepherd announced its expansion into primary casualty lines last year, supporting contractor practice programs with 3-line solutions or standalone projects including wrap ups and JVs. With these new products coming online, we doubled-down on our commitment to provide the same speed and service that our partners have experienced when working with our team on excess placements. This case study highlights the success of these capabilities.
How it came together
The submission was received from a brokerage team that Shepherd has had significant success with since inception. After reviewing the opportunity, we were eager to collaborate with our new primary offerings. We provided our formal indication expressing our appetite for the primary GL and lead layer within days of initial submission, and a formal proposal shortly thereafter.
Over the coming weeks, our team partnered closely with the brokerage team to address coverage requests and final policy terms. Our underwriting team demonstrated responsiveness and expertise to meet the insured’s requirements. Underwriting for both the primary and excess was streamlined within Shepherd, and both proposals were released together at the simultaneously.
Ultimately, we secured these placements due to our rapid and thorough communication paired with competitive pricing, terms, and conditions. We are proud to be partnering with this client and look forward to future success with this brokerage team.
