Topa Moves to Production Underwriting Model
Topa Updates - Production Underwriting Model, Higher Limits Available, Subsidence, Property and Package Service
To our valued Wholesale Brokers:
We appreciate the opportunity to work with you and see your business. Additionally, we want to thank you for your continued support. Topa's submissions are up almost 50% year over year. We know this business does not land on our desks without your significant effort to originate it and your trust in us to service it and provide you with a competitive insurance product.
For Topa Insurance Group, 2015 will be a year of continuing positive transformation. We have several exciting initiatives underway. Most recently, we made changes at Topa Insurance Company to increase our service levels and enhance our product offering:
We have moved to a production underwriting model. Our underwriters and our business leaders are our marketing force for wholesale distribution. We have built underwriting teams committed to providing you with the best possible service. You will see our underwriters in your offices. Our goal is to build strong relationships with our distribution partners.
- Tina Epstein Abrams has been promoted to Team Leader for the Wholesale Brokerage division. She will lead both property and casualty lines of business for the brokerage division. All wholesale underwriting teams report to Tina. The underwriting teams and contact information are available here.
- We have made key appetite changes with the support of our A and A+ rated reinsurance partners. We are seeking to write accounts in the $10k to $50k premium range across all lines in addition to our customary smaller account franchise.
- $10m of in-house capacity versus $5m prior
- Increase in Custom Home Builders limitation to $10m from $3m
- Topa will quote excess limits over its own primary up to $11m total
- SUBSIDENCE - we will remove this exclusion on a case by case basis
Turnaround time for an Excess Liability Quote is 24 hours or less.
- Key classes are light Manufacturing, Distribution, Truckers GL, LRO, COC, Restaurants, Liquor, Retail
Property & Package:
- $10m occurrence limit, up to $50m TIV vs $5m prior.
In order to improve our service level and response time we are currently only reviewing these classes and only within California.
- Restaurants / Bars / Taverns (night clubs are prop only)
- Apartments / HOAs
- Offices, including Medical
- Retail Stores / Shopping Centers / Grocery Stores
- Warehouses and Wholesale Distributors
- Builder's Risk
- Lessor's Risk Only
- Manufacturing Light Furniture & Wood Products
- Motels (no chains)
- Machine Shops (prop only)
- Residential Adult Care (prop only)
We reviewed our submission data in detail and identified the brokers who currently know our appetite best and have the highest hit ratios. This group will have access to the available classes. If you are in the Preferred group, you will be contacted by your underwriter. Brokers outside of this group can expect the same level of service, but at this time we are limiting access to LRO and Retail Store classes only. We will be visiting all of your offices to discuss our appetite and approach with ultimate goal of being able provide the full suite of classes to all appointed brokers as soon as possible.
Turnaround time for a Property or Package Indication is 48 hours or less.
We are investing in technology that will make it easier and faster to do business with Topa.
On behalf of Topa Insurance Group, I would like to thank all of our distribution partners for your support and trust. Our number one goal is to provide you with the top notch service you deserve. If you have any questions, concerns or feedback, now or in the future, please give me a call.
Executive Vice President & Chief Underwriting Officer
Topa Insurance Group
310 272 7034 (o)
805 231 5507 (c)