Proof that with resourcefulness and cooperation, just about any risk can be placed
To say it was an unusual risk would be an understatement. A boat converted into a house, sitting on the side of a cliff overlooking a bay in Ohio. Stacy Jordan of the Burns & Wilcox Client Services division was up for the challenge.
“When I first got the call, I started delving into the possibilities of carriers and options, and eventually wound up with a Lloyd’s of London syndicate binding the risk,” Jordan explains.
The case initially was brought to her attention by an agent with a national agency who had a longstanding relationship with Tanya Schilling, a personal insurance underwriter in the Burns & Wilcox St. Louis office. Schilling introduced the agent to Stacy last year to work on a risk. Then, when the case involving the unusual home-boat risk came about, the agent called Jordan directly.
“This was a Great Lakes freighter exterior, which was an all-steel ship converted into a home, with an interior filled with wood paneling. The ship was then placed on the side of a cliff on an island in Put in Bay, Ohio,” Stacy explains. “The home’s value was $750,000.”
“Once the agent called me with the risk, I started shopping. My first call was to Kay Dingess, personal insurance Manager in Cleveland because the boat/home was located in Ohio. But Kay did not have any contracts that would underwrite this risk. So I kept going. Eventually, we found a carrier who would underwrite it through our relationship with Lloyd’s.”
“By putting the needs of our clients first, we were able to use our ‘all hands on deck’ philosophy and service the insured quickly and efficiently,” Jordan adds. Client Services is a department within the Burns & Wilcox Special Risk Division (SRD) that serves national and developing agencies. This case proves just how unique and valuable its capabilities are.