Dryden Mutual

Carrier appetite summary

Carrier is a New York‑domiciled mutual/co‑operative fire insurer writing personal and commercial property and package business exclusively in New York State. Geography / licensing: - Policies may be written only on properties and commercial operations based in New York State. Out‑of‑state residents are acceptable only when the insured property itself is located in New York. - Distribution is 100% through appointed independent agents located across New York; no direct business. Prospects must be placed through a Dryden‑appointed agency. Preferred / target business: - Commercial property and package risks in NY across a broad Main Street and habitational appetite, written on Commercial Fire, Special Multi‑Peril, Businessowners (BOP) and Craft 12 contractor forms. - Partial list of actively marketed classes includes: apartment buildings (including student/off‑campus housing rentals), auto parking lots, auto repair shops (with no products coverage), bakeries, beauty/barber/tanning salons, breweries/distilleries/wineries, car washes, commercial buildings, commercial tenants, convenience stores and small grocery/mom‑and‑pop stores, dance and yoga studios, farm operations, hunting camps, laundromats, lumber yards/sawmills, manufactured home parks, offices, personal property in storage, rental storage facilities, restaurants/diners/pizza shops, seasonal businesses, small contractors liability, snow removal, social clubs, sporting goods stores, taverns and bars, vacant commercial buildings, and vendors/refreshment stands. - Personal lines target includes homes and camps located in NY; builder’s risk is available for ground‑up construction of both personal and commercial buildings, subject to program rules. Key coverages / limits notes: - Commercial general liability maximum limits currently available: $2,000,000 per occurrence with $3,000,000 or $5,000,000 aggregate on Commercial Fire and Special Multi‑Peril lines and the Contractor Craft 12 line, subject to NY DFS filings. BOP currently does not offer these higher aggregate options. - Personal lines liability maximum is $1,000,000 per occurrence. - Builders risk with Dryden is strictly for buildings constructed from the ground up; buildings under renovation are not treated as builders risk and should be submitted under other appropriate property forms. Restricted / declined exposures and notable coverage restrictions: - Carrier does not offer liquor legal liability coverage at all. Accounts requiring true liquor liability (e.g., higher‑hazard taverns/bars where liquor liability is mandatory) will need alternate markets or shared placement. - Coverage is limited to risks in New York State; risks whose primary property or operations are outside NY are not eligible. - Short‑term rental, vacancy, and certain specialty class constraints are not fully detailed publicly; agents are instructed to contact an underwriter for minimum coverage and eligibility details, which vary by line of business. Underwriting and rating framework: - Dryden subscribes to the Underwriters Rating Bureau (URB) and American Association of Insurance Services (AAIS) for rates and forms and files these with the New York State Insurance Department. This implies standard ISO‑like structures with company‑specific modifications. - Minimum coverage requirements (limits, coinsurance, etc.) and acceptability criteria differ by line; agents must consult underwriting for specifics on each program (Commercial Fire, SMP, BOP, Craft 12, personal lines, etc.). Submission / producer instructions: - New business and changes must be submitted by the independent agent of record; insureds are directed back to their agency for applications, policy changes, and coverage questions. - To write business with Dryden, producers must be appointed; business is not accepted from non‑appointed brokers. All policies are sold via independent agents selected and appointed by Dryden. - Agents are directed to contact an underwriter directly for: - Questions about minimum coverage requirements by line; - Clarification of acceptable classes and any special underwriting conditions; and - Rating questions (e.g., additional insured charges). - Additional insured charges on commercial lines are based on the liability limit premium and are applied separately to each entity (e.g., architect, project manager, GC) requesting AI status; agents are referred to the additional insured flat‑charge scale located in the commercial documents section of the secure agent site when quoting. Operational notes for brokers/agents: - Claims are expected to be reported through the agent whenever possible; emergency claim reporting can go direct to the carrier by phone, but agency involvement is emphasized. - For commercial GL, exposures are rated on receipts and/or payroll. Agents must provide accurate gross receipts (including amounts paid to subcontractors and certain fees such as door cover charges for taverns/billiards, excluding lottery sales) for proper audit and premium determination. - Material costs are required in receipts when completed operations coverage applies, since materials form part of the completed operation. Overall appetite positioning: - Regional New York‑only mutual focused on small to mid‑sized Main Street commercial, habitational and contractor risks, plus traditional personal property programs (home, camps) and select specialty commercial classes. No liquor legal liability market and no non‑NY property or operations. Detailed class‑by‑class eligibility, surcharges, and safety requirements are handled directly between appointed agents and Dryden underwriters and are not fully published online; agents should treat the website lists as indicative appetite rather than exhaustive eligibility rules.

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