Prime Insurance Company is committed to helping our producers and insureds achieve success. First and foremost we are here when you need us. We provide customized solutions for Excess & Surplus (E&S) risks that include new ventures, operations with unfavorable loss history, and more favorable risks looking for a better partnership. We work together with you and the insured so that we can understand why a business is turning to us. This provides open communication and enables all of us to proceed with transparency to provide solutions that fit the client’s risk profile and make him or her happy.
We are also committed to help you understand our forms, provisions and underwriting flexibility so that together we can develop a successful strategy for an insured. We’ll help you to provide us with complete details on a risk in an application/submission, which in turn allows us to be responsive to you and your insureds throughout the quote-bind process.
A Different Approach to Claims
When it comes to claims, we take a different approach that also furthers our mutual success. In an environment where social inflation has resulted in nuclear verdicts brought about by aggressive lawyers and firms whose principal purpose is to fund litigation cases, Prime Insurance is willing to fight against frivolous lawsuits and unfair settlement requests. While other carriers have been known to pay questionable claims only to find out later that these claims have resulted in underwriting deterioration and unprofitability, we’re committed to ending this pattern on behalf of our partner clients. Our strategy is to provide risk-management value for insureds with loss-prevention solutions uncommon to traditional insurance carriers, while also battling frivolous litigation promoted by television and billboard ads. We invest the time necessary to meet with insureds to identify and analyze potential risks toward developing strategies to avoid claims.
Most importantly, we get to know you. This is how we develop meaningful, long-lasting professional relationships. We spend time with producers throughout the country, in-person, and in one-on-one meetings. We also conduct virtual Zoom sessions (even more popular in today’s COVID environment). Our Business Development person will arrange lunch for everyone (sometimes we have up to 25 people on a Zoom meeting) for a “lunch-and-learn” session for us to check in, engage with, and learn more about one another. It’s a great way of taking the time to discuss what is happening in the insurance market, including risk appetite changes, and how this is impacting the E&S market as well as certain niche markets and product lines, and the ways in which Prime Insurance is poised to provide solutions that address your needs.
The proof of our success is in the pudding: Prime Insurance has remained steadfast in providing a stable market for extraordinary risk while growing to more than 100 employees, earning an “A” Excellent rating from AM Best and being a longtime coverholder with Lloyd’s of London. Our emphasis on partnership, underwriting flexibility, and robust claims defense has distinguished us in the E&S industry.
Authored by Rick J. Lindsey, CEO, President, and Chairman of Prime Insurance Company
Rick J. Lindsey hails from Salt Lake City, Utah. He began working in the mailroom of his father’s Salt Lake City insurance firm, getting his introduction to the business that became his lifelong career. Lindsey quickly rose through the ranks while working in nearly every imaginable insurance industry job. As an entrepreneur, specialty lines underwriter, claims specialist, risk manager, and a licensed surplus lines broker, Rick Lindsey is highly skilled in all levels of leadership and execution. As he progressed on his career path, Rick discovered an urgent need for insurers willing to write policies for high-risk individuals and businesses. He was frequently frustrated that he could not provide the liability protection these entities desperately needed to safeguard their assets. He also formed the belief that insurance companies acted too quickly to settle frivolous claims. Lindsey decided to try a different approach. He started an insurance company and became the newly formed entity’s CEO. This opportunity has enabled Rick to fill a void in the market and provide a valuable service to businesses, individuals, and insurance agents who write high-risk business. Prime Insurance also specializes in helping individuals and businesses who live a lifestyle or participate in activities that make them difficult for traditional carriers to insure. If you’ve been denied, non-renewed, or canceled coverage, don’t give up quite yet. Chances are Prime Insurance can help.