Speakers: Mike Gong, Self Storage Practice Leader, Arthur J. Gallagher Insurance; Mike Schofield, President and CEO, MiniCo Insurance Agency; Ann Pilla, Self Storage Underwriter, Chubb Group of Insurance Cos.; Tom Laden, Program Manager/Underwriter, Storage First
Duration: 47 minutes
Solving the Mystery of the Insurance Markets: Understanding Your Premiums and Terms
Every self-storage owner/operator needs property and liability insurance for his business. Some buy it because they want to protect their assets. Most buy it because a lender requires it. In either case, understanding the way insurance is evaluated by an insurance company can be a mystery. Our panel of insurance veterans will help you solve it! This session provides insight to the underwriting process insurance companies use when reviewing your business. You'll also get an overview of the insurance marketplace and how the global economy and losses affect risk analysis and premiums.
You will learn:
- What information to provide to your insurance agent and underwriters
- How this information generates policy premiums, terms and conditions
- How financial markets and investments affect insurance premiums
- Why catastrophic events affect insurance rates in the self-storage industry
- The value of working with an experienced insurance representative
This product is also available in DVD format.