No, do not cancel your existing business casualty policies. They are still important for your protection and management of your business risks. Coverage provided by the supplemental casualty insurance and reinsurance will complement your commercial business casualty policies. The supplemental insurance can fill the gaps arising from deductibles, exclusions, and limitations of your regular commercial policies. It would be patently inappropriate to cancel your commercial coverage for the sole purpose of inflating premiums to a captive insurer for the same coverage.
Should I cancel my existing business casualty policies after the supplemental casualty insurance and policy is issued?
About the Author: Josh Miner
Involved in the financial services industry for over twenty years, Josh is a nationally known sales and marketing coach for financial advisors and Managing Partner of Spike Sales, LLC, located in Dana Point, California. Spike Sales provides comprehensive sales and marketing solutions for financial professionals. Josh has been a speaker and content provider for the Fortress and is our Marketing Director. Fortress partners with Spike Sales to handle the management of the day to day marketing functions. Spike Sales team oversees advisor support, web technology management, business development and many other valuable functions needed in today's ever-changing marketplace.