City Insurance Program Q + A [Webinar Recording]

Attention Big City Brokers: If you insure urban apartments for building owners up to 100 units or have urban condominium association clients, this exclusive program is meant for you. Watch our FREE Q+A webinar recording and then learn more here.

Get the handouts here:

Slides: Download the Webinar Slides here
Q + A’s: View the Q + A’s and Transcript here

MODERATOR:
Ritchie Vener, SVP and Chief Marketing Officer, Distinguished Programs

EXPERT PANELISTS:

Lorraine Gallagher, AVP, Product Manager – Urban Real Estate

Lorraine Gallagher is the Product Manager for Distinguished’s City Insurance program. She is responsible for the day-to-day underwriting operations as well as product development, exploring expansion & growth opportunities, and portfolio management. Since joining Distinguished in 2007, Lorraine has worked up the ladder from Senior Underwriter, assuming her current role in 2018. Prior to this, Lorraine was an Underwriter at Brownstone Agency Inc., where she managed and negotiated a profitable book of business with a heavy focus on Homeowner’s Real Estate accounts. Lorraine received her BBA in International Business from Berkeley College. She is a Certified Insurance Counselor (CIC), Certified Programs Leader (CPL), and is licensed in Property/Casualty insurance.  

Matthew Walters, AVP, Underwriting Manager

Matt Walters is the AVP, Underwriting Manager for Distinguished’s Real Estate Division which includes the City Insurance Program. He is responsible for oversight of the underwriting teams, broker engagement, and building profitable books of business. Matt joined Distinguished Programs in 2019, bringing 18 years of experience in underwriting and leadership roles. Prior to this, Matt led the Underwriting teams at All Risks, LTD, and NSM Insurance Group. He started his career at United States Liability Insurance Group. Matt holds the following designations: CPCU, ARM, AU, AIS, and AINS. He received his BS in Business Administration, Marketing, and Economics from the University of Delaware. 

Program Highlights: City Homes Package Programs A+ XV Carrier • Primary Apartment Insurance • Property and Liability Plus Additional Coverage via Endorsement • Superior Coverage • Major Metropolitan Areas • Landlords, Multifamily, and Condominiums • Up to $25M TIV • 2-100 Units • Replacement Cost, No Age Limit

We received many questions during our Q + A, here’s a sampling:

What is City Insurance?

For Your City Housing Owners. Our City Landlord Insurance program addresses the needs of property owners (who are also landlords) with two to 100 units, including mixed- use, in designated cities. Easy, online submit-quote-bind makes it efficient and simple to get your clients covered.

Available in 23 designated cities across the nation (and growing every day!), this program provides comprehensive coverage with a range of value-added benefits. The right coverage for your city landlord clients. Designed for the following City property types: Apartments, Brownstones and Mixed-Use

How long does it typically take from submission to bind?

24-48 hours from the working day that an account is submitted. Please note that when there is an urgent risk, call your Sales Executive directly to review, and then we can ask underwriting to prioritize. Seven (7) locations typically take longer to underwrite since we provide the broker the ability to submit the paper application, which gets uploaded to our quoting platform.

How do you submit new business?

New business can be submitted through our broker portal found on our website, distinguished.com. The first time using the portal brokers will need to register their agency and create a login prior to being able to submit new business. If the broker has an account which is 7 or more locations, the broker can submit the paper application

What things should brokers be aware of that can slow down the process?

Not having prior carrier information to confirm, no lapse in coverage, insured’s loss history, and that the building meets life safety requirements.

Using the broker portal is the quickest way to make changes to a policy or to submit new business. If eligible, you can bind these transactions on the spot.

What are Some Underwriting Factors?

Insureds experience, management controls, property maintenance controls, and life safety

About Distinguished Programs

Distinguished Programs is a leading national insurance Program Manager providing specialized insurance programs to brokers and agents with specific expertise in Real Estate, Community Associations, Hotels, and Restaurants. Property and liability products are distributed through a national network of agents and brokers. Serving the same core markets and partnering with the most stable and reputable carriers, Distinguished Programs’ high-limit umbrella programs remain the clear choice in its areas of specialty for superior coverage, competitive pricing, and attentive service. Through thoughtful innovation, stemming back to 1995, Distinguished Programs fosters growth and opportunities for its brokers, carriers, and employees.

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