Posted on 06 Oct 09
Recently we spoke with Brian McFarland, vice president/owner of Eidyia Insurance Services Inc., a wholesale brokerage specializing in environmental cover and an MGA for American Safety Insurance (ASI). Founded in 2008, Eidyia is sister company to Legends Environmental Insurance Services, a retail agency specializing in providing coverage for the environmental segment for more than 20 years. Headquartered in Denver, Eidyia has offices in Chicago and Orange County, California.
Brian served as Vice President in Legends for five years before working with partners in forming Eidyia as a separate entity -- setting up the wholesale operation with its own experienced underwriting staff. The underwriting office was set up separately from Legends to delineate the retail operation from the wholesale company. Brian’s background is in environmental sciences, having worked at an environmental compliance company and developed environmental management solutions for the insurance needs of manufacturing facilities and large contracting companies throughout the country.
“Eidyia’s objective is to be the wholesale brokerage of choice for commercial insurance brokers,” says Brian. “Many brokers don’t have direct access to environmental carriers, or simply don’t write enough business to have the markets. In the majority of situations these agencies or producers have fewer than ten environmental policies or accounts with a pollution exposure. We can become their agents’ choice by providing a high level of service, support, and the training they want and need to sell to this segment.”
In addition, Eidyia is the managing general agent for ASI’s environmental agents whose insureds and policyholders have gross receipts of $2 million or less. This allows Eidyia to provide excellent service and the ability to underwrite, rate, quote, bind and issue policies for the Environmental Division of ASI.
“Our basic philosophy,” says Brian, “is that if it makes sense we can’t be beat. We provide strong underwriting and provide the coverages that the market is currently demanding.” Eidyia’s average staff experience is 22 years in the environmental industry and 20 to 30 years in the insurance sector. “We have the best of the best working in our company to meet the specific needs of this niche,” says Brian.
What also makes Eidyia unique is its contracts with every major or specialty Environmental insurer, allowing the wholesaler to provide multiple marketing opportunities to agents and brokers with just one application submission. “Three or four years ago, there may have been three to five carriers insuring this segment, today there are between 12 to 15 environmental markets,” says Brian. “We have established contacts and positive relationships with 90% of the major environmental insurance markets.”
Eidyia’s markets include: Ace Tanks, AGAI (Amerisure), AIG, ASI, ASI Tank-Environmental Insurance, Berkley Sun, Berkley Small Business, CV Starr, Deep South (Redlands Insurance), Everest National Insurance Company, Endurance Specialty, Great American, Hudson, HCC-Bonds, IronShore Environmental, Maximum Independent Brokerage, Navigators, Rock Hill and Zurich. Programs include cover for: Abatement Contractors, Waste Transporters, Property Transfer, Landfill Operations, Closure/Post Closure, Remediation Cost Cap, with additional segments continuously added.
Eidyia also helps its agents and brokers navigate through the markets to determine which ones are best suited for the particular risk they are writing. “This market is complex,” says Brian, “with multiple carriers providing different products. Understanding these differences is difficult if you don’t specialize in the environmental segment. We provide agents with assistance to review the current markets to see what will work for their accounts, to provide a competitive program with excellent coverage and value.
“Additionally, especially during economically challenging times, you need to know that your markets have staying power. Will a carrier be in the insurance business or environmental business next year? We are a source of information. We keep pace and review the marketplace to stabilize the agents’ insurance programs,” says Brian.
Eidyia’s marketing strategy is predicated on providing superior service to earn business and build an agency client base that considers Eidyia to be its source for environmental coverage and information. This is accomplished through e-mail marketing blasts with ProgramBusiness.com, web marketing and using NMSData to generate leads and a flow of submissions from agents, including from non-environmental agents who have a few policies. Additionally, Eidyia underwriters/ producers and Business Development Managers (BDMs) capitalize on their business relationships with contacts and agents to create a flow of submissions, and are actively building upon Eidyia’s relationship with ASI agents to expand their environmental books of business.
To find out more about Eidyia’s programs, please visit the company Storefront, or contact Eidyia Vice President, Steve Graham at 877-455-0680 or via email at: firstname.lastname@example.org.