The Summit

Beacon Hill Associates A publication of Beacon Hill Associates

Account Profile: Solar Panel Installation Contractor

Beacon Hill developed a customized environmental insurance solution for a large solar panel installation contractor in Florida

In early 2021 we had the opportunity to work on a $175M solar panel installation contractor based in Florida. We were approached by the controlling agent as the insured was previously in a captive program but had grown too large and was being removed from that program. We were tasked with quoting GL, Contractors Pollution Liability, E&O, Excess, and Auto coverage. The issues revolving around this particular risk were twofold. The first consideration was the residential exposure. While there are several carriers that would be willing to offer terms on commercial solar panel installation, there are very few that are comfortable with the residential portion of the risk. In this case, the residential work far outweighed the commercial exposure. The second hurdle on this account was the Auto coverage.  With such a large fleet, over 250 units, and many of them being in Florida, bringing a competitive option to the table would be difficult.

Due to the overall size of the account, the controlling agent approached several standard markets. After going to our top markets, it became clearer that the main concern was the amount of residential work being done. For this reason, initially all of our companies declined the risk. However, because Beacon Hill has long standing relationships with the leading environmental carriers, we were able to find a solution with one of our partners who was willing to write the risk. It took weeks of back and forth with this carrier’s environmental division head, and eventually, we were able to get them to release a GL/Contractors Pollution/E&O and Auto option. 

Once we informed our agent of the tentative pricing provided by this carrier, they were extremely pleased. While the controlling agent was able to find some solutions in the standard market, our terms were broader and more competitively priced. Once we were able to place the primary coverage, the Excess tower fell into place relatively easily. 

When the dust settled, the insured purchased our entire program including the Primary, Excess, and Auto for nearly $1.1M in total premium. The key to Beacon Hill writing this account was the relationship we have with our carriers and our ability to persevere on a challenging risk. Sometimes we not only need to work with the main underwriter, but their underwriting manager and even the head of a particular division. It’s not only access to markets that are important, it’s also the overall relationship and the years of trust that we developed with our carriers that makes the difference.

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