ISC Acquires Online MGA Abacus, Expands Commercial Insurance Program Offerings
In today’s fast-paced, hyper-competitive commercial insurance environment, market access to tailored programs for specialty niches supported by a streamlined online submission-quote-bind-policy issuance platform is critical in driving greater growth for brokers. Our commitment at Insurance MGA Integrated Specialty Coverages, LLC (ISC) is to deliver best-in-class insurance programs supported by the latest in technology advances. With our recent acquisition of Abacus, we have further expanded our offerings and ability for brokers to win and write more business.
Abacus is a Program Manager that distributes its products to independent brokers through a cloud-based platform that enables real-time quoting, issuance, and servicing of several key programs. The platform is easy to use, intuitive, efficient, and accurate. Programs are underwritten with top-tier carriers. You can transact online in minutes. Plus, there are no volume commitments – you can write one account on up.
In addition to quoting and writing new business, the Abacus platform allows you to address the entire insurance lifecycle – from policy issuance to endorsements, certificates of insurance, payments, messaging and more. You can also offer your clients the ability to download policies and view premiums in a secure environment.
The Abacus platform includes programs for the following industry segments:
Offer short-term film production insurance coverage up to 60 days for eligible productions of commercials, music videos, short films, feature films, webisodes, and others. Coverages include General Liability, Auto, Inland Marine (rented and owned equipment, props, sets, etc.) Workers’ Compensation, Excess Liability, Travel Accident, and Volunteer Accident. Cast Extra Expense insurance is also available.
Programs are also available for longer-term projects up to 12 months with budgets of $30 million and for annual productions and DICE (Documentary/Industrial/Commercial/Educational) risks, which are designed for companies producing multiple projects every year. The DICE production program allows an insured to cover the entire film slate for the year without having to negotiate individual policies for each shoot.
Different programs are available for more than 200 classes of events on either a per-event or annual basis. The program appetite includes concerts, plays, fairs, weddings, and more. You can cover either the entire event, or a particular vendor, performer, or attraction. Coverage is available for U.S. and foreign events.
An all-risk worldwide Equipment Floater is available for scheduled entertainment-related equipment including cameras, production, editing, musical, and theatrical gear, and miscellaneous items. Coverage is provided for damage, destruction, or loss resulting from covered risks that include but are not limited to fire, theft, vandalism, breakage, and water damage.
New construction and renovation is up. Write more business with a Builder’s Risk program designed for commercial and residential projects. Coverage is available on a national basis except in some Tier 1 territories. Coverage up to 36 months is available.
A Contractors Equipment Floater offers comprehensive coverage to small and mid-sized firms for scheduled and unscheduled equipment.
Programs include an all-risk Personal Articles Floater which is available nationwide. An Earthquake Deductible Buyback program and Residential Earthquake insurance are available for California residences.
A Professional Small Business Package provides comprehensive coverage for more than 120 classes including architecture and engineering, business consulting, IT consulting and technology, janitorial, and many others. The program includes General Liability, Professional Liability, Inland Marine and Workers’ Compensation. A Business Travel Accident program and ERISA Fidelity Coverage are also available.
Please visit Abacus to find the programs and commercial insurance coverages you need for clients and see how easy it is to add to your book of business.