Since 2003, Swingle Collins and Associates personal line of insurance has been lauded by Chubb Insurance as a Personal Cornerstone Agency along with its Commercial line that has been receiving the Commercial Cornerstone Agency
since 2009 (the year the commercial designation was 1^st awarded).

Only top agencies are regarded for such honor, and Chubb Insurance has a number of criteria that are required in order to bestow these recognitions. These awards are only given to the best in class that represent the Chubb insurance  – the top 2% of agents nationwide.

Swingle Collins has been a trusted source for personal and commercial quality insurance.  In doing so has also achieved Chubb Cornerstone Agency, Elite Agency Designation.

Here are some numbers to put that significant achievment into perspective:

Commercial agents appointed with Chubb

In Texas: 270

In the US: 4,248

“Since our inception in 2008 we have invested in both national and regional agency councils,” says Robert Courtmanche, Division President of ACE Private Risk Services. “These forums provide consistent opportunities for our leadership team to gain valuable input and perspectives from our appointed agents.”

Courtemacnche continues, “This exclusive group of 15 independent agents meets one time annually with our senior leadership team.  The group remains available to participate in telephone conferences throughout the year to provide additional input and guidance as we further develop new products and/or initiatives.”

Chris Peterie, Principal at Swingle Collins, has been recognized for his outstanding service  with ACE, and a leader within Swingle Collins. He will participate in this year’s event in New York City June 25^th – 27^th.

“It is important for our agency to be actively involved with our underwriters to hear the latest trends in the industry, but also to truly be a part of shaping our insurance carriers approach to better serve our client’s needs” Peterie said.

Ace Insurance specializes in the coverage requirements for high-net worth individuals with substantial assets to protect. The coverage provided by ACE is broad, the service is exceptional, the price is very competitive, and ACE’s financial position is on of the best in the country.  Coverage, service, price, and financial condition are all very important to the affluent insurance buyers.  That is why Swingle Collins has experienced such great success with ACE in insuring the affluent families and business of Texas.

Obviously, we hope that each and every family had their home insured in anticipation for a catastrophic tornado event such as this. Without the proper insurance, rebounding from a great loss can be life-changing.

Chris Peterie, partner at Swingle Collins and Associates, was recently interviewed for a local radio station about what you need to know about insurance and tornadoes. Chris shared his sage wisdom with listeners with these insightful insurance tips:

• If a tornado destroys your home or your belongings, an insurance adjuster will come to the scene to investigate your claim. The adjuster is going to rely on you to provide him/her proof of what your home contained and how it appeared prior to the storm. Everyone should complete a home inventory so in the event that you are faced with a loss, you are prepared and well-documented. The list should contain valuable items like jewelry, art works, musical instruments, and other items precious to the homeowner.
• Make a list of the security systems that your home is equipped with, including audible and responsive alarms, deadbolt locks, a home vault or safe room and where they are wired and monitored, jewelry stored in safe deposit boxes, smoke detectors, etc.
• The adjuster will need to know how much the property is worth – what the value of the contents are as well. The inventory of items found in your house would also be beneficial to the adjuster so he knows how much the property is worth and that it is not over insured.  Carriers typically add 40 to 60% personal property coverage to homeowners’ limits. So a family with $100,000 might be automatically insuring $40,000 to $60,000 worth of personal property on their homeowner’s policy.  If you do not have that much property to insure then you should not be insuring more than you need to.
• Review your policies annually with your insurance agent to confirm you are satisfied with the level of your coverage and your deductible limits. A lot of carriers are mandating a 2% wind / hail deductible, which can add up quickly in a time of crisis.
• Some insurance policies may include tree removal. If a tree hits an insured structure such as your house or garage, many policies provide coverage for the cost of removing the tree. Removing a tree is not inexpensive, therfore having the insurance company pay for up to about $500 to $1,000 is very helpful when you’re in the midst of recovering. Keep in mind, if the fallen tree did not hit an insured structure, there is generally no coverage for debris removal. However, some insurance companies may pay for the cost of removing the felled tree if it is blocking a driveway or a ramp designed to assist the handicapped.

Although having your house insured is smart, there are also pitfalls to avoid. Other extreme weather events such as flooding and earthquakes are almost always excluded from insurance policies.

If you’ve filed a claim as a result of a tornado, you can rest easy that your rates should not go up. Chris maintains that tornado losses should not impact an individual family’s rate, however extreme losses like the unusual weather-realted events in the last 18 months are definitely affecting insurance underwriter’s overall loss ratio.  Aggregately, the losses have increased rates industry-wide and most public insurance carriers have discussed or filed for rating increases.

Most Homeowner’s Insurance markets have the ability to obtain certain credits to the homeowner’s Insurance Premiums. Unfortunately most insurance agents don’t give their underwriters all of the correct information that would allow their clients to qualify for these homeowners credits on their homeowners insurance.

Here’s a brief checklist of homeowners insurance credit items to discuss with your insurance agent. Make sure your agent knows if you have any of the below as they could potentially reduce your insurance premium:

• Multiple policies? Home + Auto+ Valuable Articles Floater+Umbrella
• Homeowners + Valuable Articles
• Gated Community
• Gated Home
• Full Time Caretaker
• Back-up Generator
• 24 Hour Armed Security / Security Patrol Service
• On-Site Cameras / Personal Property Surveillance
• Monitored Security (Burglar & Fire)
• Alarm with Signal Continuity (Battery & Wireless)
• Home Vault / Safe Room wired to Monitored Alarm
• Jewelry Stored in Safe Deposit Box
• Deadbolt Locks
• Smoke Detectors
• Hail Resistant Roof – “class 4” roof covering – must have roofer provide you with a certificate
• Lightning Protection
• Shatterproof Windows
• Storm Shutters
• Interior Sprinklers
• Water Detection Sensor (HVAC system)
• Water Flow Alarm
• Water-Valve Shut Off
• Temperature monitor
• Gas Leak Detector
• Emergency Gas Line Shut-Off
• Fire Station within 5 miles
• Fire Hydrant within 1000 feet
• New House Credit within 7 years

Our hope is that all of our customers are getting all of the premium credits they deserve on the insurance they currently purchase.  If you have any questions about the value of these credits and your insurance underwriter, contact us today.

There’s a roller coaster of emotions when a business owner sells their company. The week before the business is to sell, the business owner’s voice is stressed, nervous, hair-triggered with concern. If you speak with them again 2 weeks after, you can barely recognize them as the same person. They’ve become jovial, and conversation naturally leads to planning vacations and other exotic adventures that previously they could not have considered doing before they exited their business.

Alas, ignorance is bliss because many business sellers often overlook a facet of selling their company that could put a damper on that new lifestyle that they’re about to embark upon.

In most instances, the seller of the company will notify their insurance company that they are leaving and request to cancel their policy. Business owners who cancel their policies often feel secure in doing so because they have an indemnification clause in their contract that states that they will be responsible for any claims which occurred before the closing.

On some occasions however, the buyer and seller discuss transition strategy and decide that they can just pass the insurance policy rights from one to the other – but this type of assumption is nearly never acceptable in the eyes of the insurance company.

A new buyer under the supposition that the policy will provide protection for them until the renewal date will be in for an unpleasant surprise when a claim against the company is made as any faulty work claims during this transition time are the responsibility of the buying party, and the insurance company will not cover them.

To this point the line in the sand for responsibility seems pretty clear. However, for some industries, it gets a bit more complicated. Consider this example:

A deck building company installs a deck at a home in the summer of 2011. The owner of the deck company sells the company in February of 2012. The following May, a deck that was installed during the previous owners watch collapses, injuring several people. The deck company customer’s file a claim against the deck company for faulty workmanship. Who is responsible for the damages? The buyer or the seller?

It depends. Sometimes this exact situation is negotiated prior to closing. More likely however, sellers have examined their policies to determine if they carry a “claims-made” or an “occurrence” based policy.

An “occurrence” based policy means a claim can still be made against the policy even though it may have expired, provided it was in force at the time the loss occurred. So in the case of the faulty deck, the seller’s previous policy would cover the claim. Examine the policy closely though – many insurance policies state the claim must arise out of an occurrence that takes place during the policy period.  If this is the case the seller’s vacation might be ruined.

However, if the insurance policy is a “claims made” policy, coverage for the period before the sale was terminated, and the seller’s insurance policy will not cover the damages. Buyer obviously will fight against incurring the cost of the accident, and depending on their new policy, they may not be responsible either. That means the seller could be personally at risk for the event.

Alternatively, the seller with a “claims made” insurance policy could have purchased a “tail” policy In order to continue coverage for that prior period. Also known as an Extended Reporting Endorsement, this “tail policy” must be in force before the business seller’s transaction is complete.  This tail policy extends the cancelled or expired claims-made policy. Timing is crucial though – sometimes a tail policy is only be available when the policy is purchased and can be more challenging to get when canceling the policy.

For coverage written on an occurrence policy, underwriters will offer either discontinued operations coverage or discontinued products coverage – both of which are a necessity for most contractors, manufacturers, professionals and others with similar exposures. Unfortunately, not every company writes this coverage.

A recent real example of a buyer and seller failing to notify their insurance carrier of a change in ownership when to Federal Court in Texas. In Keller Foundations, Inc. vs. Wausau Underwriters, the purchasing company acquired the assets of the selling company and then changed its name and organizational structure to an LLP. Neither buyer or seller notified the insurance carrier, so the Comprehensive General Liability insurance remained in the corporate entity name, providing no coverage for the LLP that was formed later. It’s important to note that the insurance policy had a non-assignment clause

After the sale took place, several lawsuits were filed in Texas, California and Florida for defects and property damage allegedly arising from the seller’s work prior to the purchase and during the term of the insurance policy. The insurance company declined to defend the buyer or the newly formed limited partnership, so buyer assumed the defense on its own, consistent with its assumption of liabilities in the purchase agreement and sued the insurance company on the coverage issue. The court rejected buyer’s assertion that the insurance company should provide defense and indemnification despite the non-assignment clause and its claim that the insurance company was not prejudiced by the fact that the company wasn’t asked to add buyer or the newly formed limited partnership as an insured.

When selling a company or buying a company, it’s vitally important to review the insurance policies during due diligence — not just to determine coverage amounts and to shop for new policies, but to verify assignability and exposure for both parties.

We pride ourselves on maintaining excellent working relationships with our clients, and that means opening the lines of communications in unconventional ways. We know that our clients are among the best and the brightest professionals in the Metroplex, and we think there’s value in having them getting to know one another. Our most recent Client Appreciation Happy Hour, held March 20th at the Diamond Doctor, Wholesale Diamonds & Fine Jewelry was just the venue to do that.

Guests arrived at 5:30 p.m. to complimentary valet and were then invited to peruse precious stones, sample scrumptious cocktails and hors d’oeuvres, and of course mix and mingle throughout Diamond Doctor’s two breathtaking showrooms. Between the jewels and the discussions, it is difficult to say which was more spectacular!

The evening concluded with a fabulous door prize,awarded to Ryan Lamb. He was the lucky winner of the Jewel Jet home jewelry cleaning system ($200 value) and five complimentary cleanings, polishing and re-tipping of prongs for a single piece of jewelry ($100 value), courtesy of Diamond Doctor.

With such gracious guests and captivating conversations, it’s easy to see that we represent the finest families and businesses!

Recognized as the 8^th largest homeowners insurance carrier, Chubb Insurance has a worldwide network spanning 100 offices in 27 countries and staffed by 10,400 employees. Chubb Insurance is the premier insurer of high-net-worth individuals in the United States. With 30 years experience specializing in the affluent market, Chubb Insurance offers products and services designed to help protect the highly valued assets and piece of mind of the customer.

2. Solid Financial Strength

Chubb Insurance customers can be confident that their physical assets are insured by a financially secure organization. The member insurers of the Chubb Group of Insurance Companies consistantly earn the highest rating for financial strength from A.M. Best Company, A++:XV, meaning they have $2 Billion plus in reserves. Forbes has listed Chubb Insurance as one of America’s 400 Best Big Companies, and Fortune has ranked Chubb 203 out of the largest U.S. based corporations.

3. Unparalleled Service

Chubb Insurance maintains a reputation for fairness and integrity by treating every customer-from policy issuance to claim settlement- as they would want to be treated. Agent and broker associations, industry analysts and publications the world over consistently honor Chubb Insurance for quality service-especially claim service. Chubb Insurance has been ranked #1 for outstanding claim service 10 times in the Goldman Sachs U.S. “Quality of Service” Research Survey of Property and Casualty Producers.

4. Industry Leading Coverage

“Innovative and Specialized” best describes the Chubb Masterpiece Suite of insurance products. Insuring custom, historic and second homes worldwide, classic and daily autos, watercraft of all sizes, valuables and collections is only of the things for which Chubb Insurance is known. Chubb Insurance also offers “Best- in-Class” loss Prevention and mitigation with complimentary services such as Wildfire Defense, Homescan, Identity Fraud, Background Checks for Personal Staff, Property Management for Seasonal homes, and a Protection Network referral program.

1. Financial Strength You Can Trust

Safeco Insurance is a Liberty Mutual Agency Corporation and a member of Liberty Mutual Group. In 1923, insurance executive Hawthorne K. Dent envisioned the financial stability of an investor-owned stock company with the preferred-risk underwriting and lower prices of a mutual or policy-owned personal insurance company. More than 90 years later, Liberty Mutual Group is a Fortune 100 company and the fifth-largest property and casualty insurance company in the country. Liberty Mutual Group is also rated “A” (Excellent) by A.M. Best Company.

2. Expert Advice

Appointing agencies, like Swingle Collins & Associates, Safeco Insurance offers a you a professional advice and personalized service. Swingle Collins & Associates has earned a spot in Safeco’s H.K. Dent Elite Society by developing a track record of success with Safeco Insurance and exhibiting an exceptional level of commitment to our policyholders. This society represents SafeCo’s very best agents and each year, fewer than 10% of SafeCo Insurance agents will qualify for this distinct honor.

3. Customizable Coverage

Safeco provides a wide variety of personal insurance products to protect your family, including homeowners, valuable articles, automobile, umbrella, watercraft, motorcycle, motorhomes, classic cars and more. Depending upon your particular needs, your personal insurance agent can tailor the level of coverage  and deductibles to give you a custom policy. There are steep discounts for high credit scores,  paying policies in full, advanced quoting, and packaging all your policies.

4.  Innovative Thinking

Safeco Insurance is a customer centric and innovative company. The establishment of a new research and development unit is responsible for designing products and services that move beyond the traditional personal insurance marketplace. The redesign of the Claims and Customer Care operation includes the introduction of pro-active calling to customers in disaster zones to make certain they’re safe and begin the recovery process.

5.  Community Involvement and Philanthropy

Established in 2006, the Safeco Insurance Foundation supports our communities with a $90 million endowment, recongizing civic and community leadership of their agents and clients and striving to provide the necessary financial support to local nonprofit organizations. We are proud to make a difference in the communities where we live and work.

1. Financial Strength

ACE Private Risk Services is part of the ACE Group of Companies, one of the world’s largest providers of property and casualty insurance. With more than $79 billion in assets, ACE Group holds a “AA-” (Very Strong) rating for financial strength by Standard & Poor’s and an “A+” (Superior) rating by A.M. Best – two of the leading insurance rating agencies.

2. Expert Advice

Wealthy individuals and families with substantial assets have complex insuring needs that require in-depth, objective and personalized consultation. For this reason, the ACE Platinum Portfolio is only available through a select group of insurance agents and brokers who have the expertise our policyholders expect.

3. Superior Coverage

One Ace Group package policy and one bill can satisfy a wide range of your insurance coverage needs for fine homes, vacation properties, autos, watercraft, jewelry, collections and personal liability.

The “portfolio” approach minimizes coverage gaps, eliminates wasteful duplications and coverage redundancies that can occur with a collection of standard industry policies. Plus, it comes with an overall package discount and a deductible program that drops by 10% every loss free renewal on property and auto policies entered into deductible reserve. This deductible program benefits policyholders that are long-term minded with their insurance carriers, and that have a low claims history.

Home coverage that promises to replace your home and other structures on your property in the event of a total loss—even if the cost otherwise exceeds your policy limit. A covered loss exceeding $50,000 will result in a waived deductible, subject to loss detail. Specialty risk programs such as Flood and Earthquake can be easily added to any property through the ACE program, based upon state regulations and zone determinations.

4. Excellent Customer Service

With ACE Group, every policy claim ends with a customer assessment of the process, and has resulted in a 99% approval rating which ranks ACE as an insurance carrier that a policy owner would refer to family, friends or colleagues.

ACE Group offers convenient billing options to pay your premium automatically using American Express, Direct Invoicing and Recurring Bank Draft options.

1.   Sound Financial Protection

Rated ‘A’ (excellent) by AM Best and rated ‘A+’ by Standard and Poor. Over $38 Billion in policyholder surplus; Private Client Group is part of Chartis Commercial Insurance – Chartis

maintains the highest policyholder surplus among all insurance competitors in the U.S.

2.   Custom-tailor Coverage

Chartis comprehensive insurance coverage addresses the unique insurance challenges faced by owners of high-end residences. High deductible options are available to help control costs. If a total loss occurs, we pay to rebuild your home, even if doing so exceeds the policy limit. In addition, trusted specialists are available to provide complimentary home valuations, loss prevention strategies and security advice.

3.   Concierge-level Claims Service

Chartis Private Client Group is committed to providing the finest insurance claims service in the industry. Chartis take pride in offering fast, seamless settlements along with unprecedented responsiveness, flexibility and choice. Since inception, Chartis claims team has consistently received a 99% satisfaction rating from policyholders who complete our claims satisfaction survey.

4.   360° Protection

Advance preparation can help protect complex, high-value properties — especially those in remote locations — from perils such as fire and water damage, as well as from natural catastrophes such as hurricanes, earthquakes, wildfires and floods. Chartis can visit your property to identify potential threats and recommend appropriate solutions. As a policyholder, you’ll also have access to unique services such as our Hurricane Protection Unit®, Wildfire Protection Unit®, water damage prevention and much more.