Chicago-based Wachovia Insurance Services, one of the nation’s top 10 insurance brokerage firms, last week announced it has been appointed the managing underwriting agent for a specialty insurance program for aerial lift equipment rental and sales centers.
Underwritten by a national insurance company with an A+ Superior financial strength rating by A.M. Best, this program offers a comprehensive range of property and casualty insurance coverages, including inland marine, property, automobile and general liability to aerial lift equipment dealers and rental centers on a nationwide basis.
“I believe this represents a major change in insurance purchasing trends for the industry segment,” said William Holler, Wachovia Insurance Services’ aerial lift equipment insurance specialist. “It’s rare to find a single insurance company offering all lines of coverage for this particular sector.
“For those insurance companies that do offer coverage to aerial lift dealers, they usually limit coverage to a single policy type such as general liability or inland marine. With our specialty program, lift dealers can obtain the majority of their commercial insurance coverages from a single, reliable source. The advantages of a single provider are numerous — competitive pricing, ease of administration, common renewal dates, and fewer opportunities for coverage gaps, just to name a few. I think dealers will be really pleased with this new product.”
Holler’s experience in the aerial lift equipment industry played a major role in the insurance company’s decision to appoint Wachovia Insurance Services as the exclusive agent for this specialty program, the company said.
“Bill Holler has more than 30 years experience in this extremely complex industry sector,” said Lloyd Spalding, president of SkyJack Inc. “With his in-depth risk management experience and keen underwriting insight into lift dealer operations, this program will be a real asset to dealers throughout the industry.”
Wachovia Insurance Services is the tenth largest insurance broker in the United States, with annual revenues in excess of $400 million and annual premium placements exceeding $4 billion. The company provides clients with a comprehensive array of services including property-casualty insurance brokerage, risk management consulting, employee benefits and compensation consulting, life insurance, and executive benefits.