Prime May Newsletter
Prime Insurance Company
An excess and surplus lines insurance company writing in all 50 states. Rated A (Excellent) by A.M. Best.
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Prime Insurance Company can help you write more business. Call 800.257.5590 or email [email protected] for a free quote.
Prime CEO: Tide of Litigated Claims, Like Bad Divorces, Enrich Lawyers
Best's Review, May 2024, Renee Kiriluk-Hill
Prime Insurance Co., Chairman, President and Chief Executive Officer Rick Lindsey, wants carriers and their policyholders to stop feeding the legal costs "dragon" with unreasonable settlements that he considers a prime factor in the rising tide of litigated claims.
Property/casualty carriers that fight back, raise rates and anticipate everyone will file a claim at some point won't need to abandon customers by exiting markets, Lindsey said.
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Risk Sharing with Prime Insurance Company
Prime Insurance Company offers Risk Share Partnerships for liability and property risks. A Risk Sharing Partnership allows the insured and insurer to share the risk as partners, which benefits both parties by aligning their interests into a cohesive partnership. This partnership drives down costs because both parties work together for the same cause.
With a traditional deductible approach, the two parties are separated, which can encourage lawyers to sue, contractors to inflate costs, and ultimately rewards bad behavior.
Deductibles are a huge part of the problem with insurance today, and Prime is leading the way by offering Risk Share Partnerships. Call 800.257.5590 for more information.
Upcoming Events
Check out where we are headed. If you are in the area, we would love to meet you or suggest an event/meeting. Also, please feel free to reach out to us about meeting at your place or at ours. Contact Barbara Malkowski at [email protected] for more information.