Tower Insurance "Preferred Business" Rate Deviation
Tower Insurance now offers a 10% rate deviation on "Preferred Business" in New York. The eligibility rules for the deviated rates are as follows:
- The Standard Premium size (before premium discount) must be $25,000 or greater.
- The classifications must be one of Tower's "Green" classes (see below)
- The Experience Modification should be .85 or lower.
- Hard copy loss runs must be provided from the current and prior carriers for at least the current year plus three prior years.
- Loss ratio maximums: 35% average over the experience period (the current year plus at least three prior years) and no one year greater than 55%.
Tower Insurance "Green" Class Codes:
2003, 2041, 2387, 2388, 2501, 2503, 2670, 4362, 4511, 4611, 4692, 8006, 8008, 8012, 8013, 8016, 8017, 8031, 8033, 8039, 8043, 8072, 8381, 8382, 8601, 8742, 8803, 8809, 8810, 8820, 8832, 9028, 9052, 9058, 9071, 9072, 9585, 9586, 9620
For rates and further underwriting information click here.
We have done our best to ensure that this information is accurate and reliable. Companies are always adjusting their underwriting appetites and, as such, this information is subject to change without notice.
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