SANDY, Utah – The Prime Insurance Syndicate, Inc. (“Prime”) is pleased to announce that effective October 1, 2005; Prime secured additional binding authority from certain underwriters at Lloyd’s of London. For many years, Prime’s family of companies has provided liability coverage directly for outfitters and guides, recreational risks, and chemical applicators through insurance groups and associations. Now Prime producers will have the ability to place coverage with Prime and receive Prime’s standard commission, generally set at 10% to 15%.
The liability coverages available under this program are limited to the following types of risks:
l. Outfitters and Guides, which generally include: ATV’s, Bicycles, Camps, Climbing Activities, Guided Tours of any kind including Mountain Climbing, Horses, Horseback Riding, Hunting, Nordic Skiing, Outfitters, Guides, River Operations, Skiing, Snowmobiles, and Water Sports among others.
2. Recreational Risks, which generally include: Amusement Parks, Skiing, Batting Cages, Dance Academies, Concerts, Equine Riding, Golf, Gymnastics, Health Clubs, Inflatables, Martial Arts, Personal Trainers, Recreation Centers, Shooting Ranges, Skating Rinks, Skateboard Parks, Ski Resorts, Special Events, Swim/Tennis Clubs, Tubing Areas, Water Parks, and Winter Operations among others.
3. Chemical Applicators, which generally include: Janitorial Services, Landscapers, Lawn and Garden Services, Pest Control, Tree Services and Carpet, Septic Tank and Chimney Cleaning among others.
Prime will generally quote coverage at $100,000/$300,000 limits, but may quote up to $1 million. All claims are handled by Prime’s in-house claims department that has decades of experience handling these types of claims. Because Prime’s capacity to write these lines is limited, we determined to make this new opportunity known to only our current producers first. We intend to issue a general press release early in 2006 to fill any remaining capacity.
Prime is a surplus lines insurance company offering solutions for hard-to-place risks, including commercial liability, commercial auto liability, commercial property, inland marine, garage services, healthcare services, personal lines, and professional liability. Founded in 1992, Prime has formed strategic business relationships with some of the world’s most powerful insurance companies including Lloyd’s of London and Gen Re.
For more information about the Prime companies, visit www.primeis.com
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