“As far as we know, this is the only such commercial property program in the country,” says David Teed, Director of Business Development for The JLS Group, Inc. “We offer limits up to $10 million under a single insurance program and cover losses from fire, wind, freeze, ice and snow, lightning, vandalism and theft. All trees, plants and shrubs as well as pertinent buildings such as retail stores, storage facilities and equipment can be covered.” Underwritten by an A.M. Best “A” (Excellent) rated company, the program is currently available in 16 states, including Alabama, Arizona, Arkansas, California, Colorado, Georgia, Kentucky, Louisiana, Missouri, Nevada, North Carolina, Oklahoma, South Carolina, Texas, Utah and Virginia. New states will be added shortly. This new program offers competitive coverage and terms and for the first time provides commercial property owners with the opportunity to actively manage and protect their valuable living assets which provide the settings for their properties or the livelihood of their business.
JLS is partnering with Horticultural Asset Management, Inc. (HMI) which will be supporting the program. HMI is the nation’s only source for standardized replacement cost values and health assessments on plant material. Using its network of certified arborists, HMI provides on-site services to inventory, assess and value plant material. HMI’s network can also be used to provide remedial and other services which may be required. “We are thrilled to be supporting this new insurance product,” says Doug Cowles, HMI’s President and CEO. “HMI’s system and expert field network were designed to support comprehensive insurance solutions such as the one being launched by JLS and its partners and provides a Kelley Blue Book standard for valuing trees and shrubs. We’re looking forward to working with commercial property owners to help them protect these assets.”
The JLS Group, Inc. has opened this product to the public and all independent agents and brokers. Submission requirements include a complete Property ACORD application, a minimum of three years of currently valued loss runs, and financial reports or D&B/retail credit reports for any insured in the business less than one year.
For more information, go to the Live Assets insurance website at http://www.liveassetinsurance.com/
