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16 Jul The Prime Insurance Company Partnership Approach
Commercial insurance is about managing risk. The less exposure risk for the insurance company, the greater the likelihood they will underwrite the commercial venture. So, naturally, established ventures like office space have a very easy time obtaining liability insurance. But, without risk, there is no innovation, and no new products to offer the public. So, how does a new company with a new widget idea obtain the insurance necessary to bring the widget to market?
Thus, Prime Insurance was born. Prime Insurance Company’s Partnership Approach focuses on partnering with nascent companies and producers in emerging markets so that companies can bring their new product line to market. They will take that actuarial risk for the hopeful reward that the company thrives and innovation continues. The new hovercraft that flies like a plane and lands like a helicopter. The flying car. These were homemade devices initially that needed liability insurance. If your company needs to take that next step to give the rest of us the giant leap we need, you know where you should go first.
Beyond the fleets of cars and long-haul trucks that they regularly underwrite, they also look out for home caregiver taking care of the elderly. These sole-proprietorships often have too little income to warrant the more common insurers to provide coverage. Not so with us. They look for the outcome of the work first. If the outcome helps the public to improve their lives, we will find a way to underwrite it.
- Underwriting the exorcism that destroyed the baseball that cost the Chicago Cubs their 2003 pennant. It would take the team a lucky 13 years to repay that debt to their beloved city.
- Helicopter bungee jumping. Yes, there are people crazy enough to try this.
- Undersea Lodging that requires scuba gear to check-in. The Lodge has been a long-time client of Prime.
- Those who choose to swim in dangerous places.
We like what we do because we like the people who challenge us to help them achieve something amazing or advance humanity a step. We applaud their efforts.
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