- By Lianne Portman
- 03 April 2018
Working with a specialist US broker, Miller’s North American team recently bound a new insured under our exclusive midstream energy Miller facility, delivering broader coverage and limits amidst challenging CAT market conditions.
The challenge
Having purchased multiple locations in Houston which are fundamental to the insureds day to day operations, the insured required additional natural catastrophe limits for flood and named windstorm in their 2018 operational property programme.
Our response
We utilised our exclusive midstream facility to quote this new business opportunity. Our market and facility had readily available and deployable natural catastrophe aggregate, unlike domestic markets which were restricted by accumulation in the Houston area.
As well as achieving the required higher flood and named windstorm limits, we were also able to enhance the deductible and apply an additional limit structure for the programme.
This was a collaborative effort involving brokers across Miller’s midstream, casualty and terrorism teams. Our one team approach ensured that we leveraged our market relationships to the best advantage, despite the challenges presented by the placement.
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