Gridiron Launches Small Business Property and GL Solution

PRODUCT: Gridiron Package Select

COMPANY: Gridiron Insurance Underwriters

BEST RATING: Interstate Fire and Casualty (an Allianz company), A+ (Excellent), Size XV

AVAILABILITY: Coverage is available through appointed agents and brokers.

FOCUS: The U.S. is home to 26.8 million small businesses that comprise 99.7% of all private employers and export an average of $375 billion in goods and services every year, according to the National Small Business Association.

Gridiron now offers a small business solution called Gridiron Package Select (GPS), a package-only property-casualty product—and more than 350 liability class codes are eligible. “This is a Main Street product, for the deli on the corner and for the owner of the building he’s operating in,” says Dave DeMott, president of Gridiron Insurance Underwriters.

The company writes risks from California to New York and offers substantial capacity for wind, hail and other weather risks. “Many programs don’t do risks within 25 miles of the coast. We do,” DeMott points out, noting the company adheres to coastal guidelines.

Because Gridiron offers GPS on a non-admitted basis, the company can handle a broader spectrum of classifications and risks. “With a fragmented excess & surplus marketplace, GPS helps independent agents and brokers to provide a stream-lined solution to small businesses,” DeMott says.

Gridiron is rolling out a new version of the product to include equipment breakdown and additional classes of business. Property coverage includes additional broad enhancements, such as accounts receivable, valuable papers, electronic data processing equipment, employee dishonesty and more.

The company seeks to work with appointed wholesalers and select independents who are well established and have a demonstrated track record with retail and small real estate. “Gridiron is dedicated to quickly analyzing the risks that come through in order to see what may be a more optimal fit—GPS or another Gridiron product,” DeMott explains. “GPS allows a wholesaler to have direct binding authority. This provides agents with prompt responses in respect to our risk appetite.”

Agents can access GPS through an internet portal that quotes, binds and issues policies.

UNDERWRITING: Gridiron offers capacity up to $1.5 million online, but can consider values upwards of $3 million. Deductibles vary based on risk and proximity to the coast. The base is $1,000, and wind/hail deductibles vary.

Required underwriting documents include an ACORD application and supplemental applications for certain classes of business, such as apartment buildings. Gridiron also requires loss runs.

MINIMUM PREMIUM: $750 on a package basis.

TARGET: GPS is tailored to small businesses and small real-estate businesses.

COVERAGE TERRITORY: The package is available in AL, AZ, CA, FL, GA, LA, MD, MS, NC, NJ, NY, OK, OR, PA, SC, TX, VA and WA.

CONTACT: Dave DeMott, president; Gridiron Insurance Underwriters, 6971 West Sunrise Boulevard, Suite 104, Plantation, FL 33313; 954-473-3653.

Ronimarie Acord is an IA contributor.