PCI is a leading private insurer of entrepreneurs, as well as executives, CEOs, entertainers, professional athletes and wealthy clients in many other select high-profile professions. We are here to insure your health and your wealth and we take our job as seriously as you take growing and developing your business.
Over the years, we have become an industry leader in designing and offering the most complete, comprehensive and sensible insurance coverage for entrepreneurs in any type of business. We have an active client list of brilliant entrepreneurs in many different industries, as well as executives and CEOs of all types.
As an entrepreneur you know how important being insured is and how important it is to protect yourself and your company in the event of illness, injury and against loss in cases of liability. But most entrepreneurs devote a majority of their time to focusing on managing and developing their companies and are often unaware of the fine details of their insurance coverage. The following true story is a perfect example.
The founder of a successful company discovered he had a total of 33 insurance agents handling his affairs from coast to coast, and he was receiving bills for his insurance at six different addresses in six different states!
We reviewed all of the properties, cars and jewelry, as well as all the existing policies and discovered a number of significant shortfalls and gaps in coverage. We restructured his insurance portfolio whereas the client went xxxx on some homes and took xxxxx on other homes. We combined all of his multiple policies into one single policy, with his properties spread out enough to create a self-insurance product that saved the client over $60,000 per year.
In addition, we wrote a large umbrella over the entire account, giving him a $75 million-dollar excess liability policy (umbrella) for a cost of only $37,000 per year.
PCI specializes in the exclusive area of high-coverage insurance for entrepreneurs. We are here to make sure you and your company have a complete umbrella of insurance that covers your business facilities and assets, your home(s), vehicles, all of your possessions, as well cover against injury, illness and liability for you and your company.
However, unlike the case of the entrepreneur above, when we design a policy we closely examine every detail to make absolutely sure you are not over-insured, mistakenly charged, you never pay for any coverages you do not need and that you never pay a dollar more than you have to in order to stay fully protected against injury, illness and liability.
Our focus is not only on protecting your overall financial health from any injury and health-related issues, but also to make sure you are completely covered for any type of liability exposure in order to protect your wealth and your future income. We call this wealth preservation and the need for adequate personal lines insurance protection to preserve your assets from loss is paramount.
As a successful entrepreneur, chances are good that you have a nice home(s), nice vehicle(s) and employees to handle specific duties such as housekeeping, security and maintenance. Whenever you have vehicles of any type and even just one employee, it is absolutely vital to have adequate liability insurance. If you know you are going to frequently have guests at your home, it is absolutely vital to have adequate liability insurance.
In terms of your business, as an entrepreneur you are well aware that every business comes with risk that must be manged. You must be sure, like the entrepreneur in the case we mentioned earlier, that you have excess umbrella coverage when it comes to your business liability insurance. The last thing you want is to have the possibility that someone could wipe out your business due to some type of liability claim, whether it be legitimate or not.
The simple fact that you own a business, large or small, makes you an attractive target for litigation in the event of an injury occurring on your property, or which is related to your products or business in any way. What happens if someone on your housekeeping, security or maintenance staff is injured or even worse, while on your property? It doesn't matter if it was in the course of their duties as an employee or not, just the simple fact that they were injured on your property, opens you up to liability.
What happens if someone on a property owned by your business, or someone using one of your products, is injured or even worse? Again, you are likely open to exposure for liability and in the event of the worst, what will happen to their family, how will they be provided for and taken care of? Do you have enough coverage?
Unfortunately these events do happen, especially in the business world. Businesses and business-owners get sued every single day and most often for massive amounts of money. One of the most important things for you as the business owner and for us as your insurer, is to make sure you are adequately protected. But what does that mean? How much is adequate or enough? As our story in the beginning illustrates, it may be more than you think and for good reason.
In today's litigious world, these million-dollar injury and wrongful death lawsuits are almost a way of life. The fact is, if someone gets severely hurt or killed and you are found somehow liable, you will most likely be sued for millions of dollars, so you really do need to be heavily covered. We always suggest having more than enough liability insurance to cover the value of your home plus all your assets, plus any legal fees that may arise - then double that amount or even triple it. This way, in the event of a catastrophic claim, you will be fully covered and be able to keep your assets.
This is also why it is also important to have the best carriers in the business. The last thing you want is a carrier that will not pay out on a legitimate claim. PCI works with only the strongest, most reputable AM Best-rated insurance carriers in the United States. We are extremely selective in our choice of carriers and only work with those that provide first class service and exceptional claims departments.
If you are an entrepreneur, or you represent an entrepreneur and you would like to find out more about PCI, or schedule an appointment, call us at 301-245-0130. We look forward to hearing from you.