PBC Monthly Digest - APRIL 2021

MONTHLY DIGEST | PAGE ◆ 1

Monthly Digest
April 2021

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MONTHLY DIGEST | PAGE ◆ 2

OVERVIEW

April 2021 was one of our best months for new business. We wrote over $5.5 million in new business premium
with HUB across the board, and overall we are up 18% in total revenue from last April. In addition, outside of HUB
Northeast we were up 44% in new business revenue as well for April. Year to Date, we’re now up again at 12.9% of
revenue for all of HUB, and outside of HUB Northeast we are up 18.3% in total revenue. These numbers are great
considering the start to the year, but know that better things are on the way.
As we mentioned in last month’s edition, the construction industry is fueling some of the growth along with the
Excess & Umbrella markets. We also wanted to thank HUB Mountain & HUB New England for a great April in renew-
als. New business is always great but in the Surplus world, keeping the renewals is just as important to the bottom
line. We appreciate the hard work that Scott Rasor & Amanda Keaveney, along with their teams, are doing to keep
the business with PBC & HUB.

NEW BUSINESS

Now onto the fun part, New Business. Outlined below are the new business numbers through April showing the
total amount and rankings among the HUB Regions (outside of Northeast). Once again, HUB Midwest West lead the
way with new business for the month, and California came in second. These two offices are also leading the way in
overall new business through April. Thank you to Chip Stuart of HUB California for all of the help in California, as
well as the leader of the Real Estate Vertical for the support.

Rank HUB Region New Business

1 MIDWEST WEST $653,291
2 CALIFORNIA $352,715
3 TEXAS $318,520
4 NEW ENGLAND $254,908
5 MID-ATLANTIC $151,820
6 SOUTHWEST $119,689
7 GREAT PLAINS $117,930
8 MID SOUTH $84,617
9 FLORIDA $76,116
10 MOUNTAIN $63,566
11 NORTHWEST $55,466
12 CAROLINAS $40,543
13 GULF SOUTH $5,000
14 COLORADO $3,187
15 MID AMERICA $2,661
16 PUERTO RICO $0
16 MIDWEST EAST $0
16 HDH $0

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MONTHLY DIGEST | PAGE ◆ 3

TOTAL PREMIUM CHART & SUPER REGION CHART

Outlined below, you will find our total premium by HUB Region. Just like with new business, HUB Midwest West
takes the lead in total premium as well. New England jumped into second place and broke the million dollar pre-
mium threshold, and Texas is right behind them.

Total Premium with PBC

HDH, $53,989 CAROLINAS, $52,641
COLORADO, $62,010 MID-AMERICA, $43,410
GREAT PLAINS, $1,725
GULF SOUTH, $76,195 CALIFORNIA, $(495,661)
FLORIDA, $147,590

MID-SOUTH, $167,994

PUERTO RICO, $168,817 MIDWEST WEST,
$2,958,940
NORTHWEST, $184,403

ATLANTIC,
$250,979

MIDWEST EAST,
$254,222

SOUTHWEST,
$572,265

MOUNTAIN, $761,455

TEXAS, $863,449 NEW ENGLAND,
$1,025,368

Total Premium Breakdown

Listed below, we have total premium broken out by the 5 Super Regions. The Central Region leads Q1 with over $4.1
million in total premium.

$4,500,000 NEW BUSINESS RENEWAL TOTAL

$4,000,000 $3,163,623
$4,138,621
$3,500,000

$3,000,000 $1,691,619
$1,883,035
$2,500,000 $406,728
$923,608
$2,000,000 $1,330,336 $974,998

$1,500,000 $206,276
$406,961
$1,000,000 $613,237 $191,416
$408,181
$500,000

$- EAST SOUTHEAST PACIFIC WEST CENTRAL
$(500,000)
$(1,000,000) $(311,258)

$(719,439)

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MONTHLY DIGEST | PAGE ◆ 4

SUCCESS
STORIES

Wholesale

Adam Jakubowitz and Kris Hamburger of HUB California reached out to PBC looking to place Excess Liability on a
large property schedule. PBC needed to build 40X of $10M in excess limits for the insured, as the incumbent was not
offering. Steven Giustino was able to turn this account around in roughly 24 hours and built out the $40M with Liberty,
Endurance & Navigators for a total premium of just over $700K. In addition, we saved the insured almost $400K over
the next closest carrier. To find out more about PBC’s Excess and Umbrella Programs, please reach out to Steven
Giustino at [email protected].

Mark Sullivan of HUB Northeast had an owner’s project in New York that needed GL & Excess. The owner’s GC &
opposing agent were trying to place coverage for the project as well. This was a commercial building in New York
City. Stephanie Mulrane of PBC was able to place the GL & Excess of $323,141 for the Owner & GC. Not only was
she able to meet all the contractual requirements, but she also beat out the GC’s agent as well. Stephanie and Mark
placed the coverages with New York Marine, Aspen & Navigators. To find out more about our Construction capabili-
ties, please reach out to Stephanie Mulrane at [email protected].

Sal Romano in HUB California approached Mark Fox in PBC’s Wholesale Division who needed $15M excess of
$10M for his janitorial company. The incumbent carrier cut their capacity from 25 to 10. Mark was able to approach
Navigators and fill the $15M and follow form for their contractual obligations. Mark and Sal wrote the account for
$128,001 in premium. To find out more about what Mark Fox can do for your insureds, reach out to him at
[email protected].

Environmental

Alisa Majid & Michael Shumate of HUB NW reached out to Patrick Criscuola in PBC’s Environmental Division for
help on a Contractors Pollution Policy. Their insured is a commercial GC specializing in tenant improvements. Patrick
worked with Westchester to provide the insured and agent enhanced coverages and over their prior carrier, meet
their contractual obligations and provide a better premium. Patrick wrote the account for $11,205 in written premium.
To find out more about PBC’s Environmental team, please reach out to Patrick at [email protected].

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MONTHLY DIGEST | PAGE ◆ 5

PBC
SPOTLIGHT

This month’s Spotlight is on Steven Giustino in PBC’s Wholesale Division. Steven started at PBC
5 years ago and became a producer in 2020. During his first year, he reached Silver SHARP level
for new business. Steven specializes in Construction, Real Estate and the Hospitality Sectors. He
is a member of the HUB Construction and Real Estate Vertical as well. As PBC has been working
with more HUBs outside the Northeast, Steven has been writing a number of different types
of accounts. With the Umbrella and Excess market hardening month by month, he has built a
great niche in this line of coverage.

Some of the new business Excess/Umbrella accounts Steven has written with various HUBs are Hotels in Florida,
Apartments and Condos in California, tough to place Contractors and Property Managers. In addition, he can place
distressed properties as well as property located in tough fire zones out west. Lastly, Steven can help you with your
construction accounts. Whether it’s with our exclusive programs for New York Contractors or Commercial & Residen-
tial GC’s across the country, PBC will have the markets for you.
Steven is from Long Island and works out of the PBC office out there. He went to the College of Mount Saint Vincent
where he played baseball and was the catcher. An avid sports fan, he is a big Mets fan, (“this is their year” as every
Mets Fan says), and a Dallas Cowboys fan. He looks forward to getting back out on the road this summer and connect-
ing with the agents he has been working this past year.
To find out more about Steven, reach out to him at the contact info below.

For more information, please contact:
Steven Giustino, Business Development
Leader, Wholesale Division
Office: 516-677-4891
[email protected]

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MONTHLY DIGEST | PAGE ◆ 6

HUB NORTHEAST WINS AND NUMBERS

This section is dedicated to our largest partner, not only within the HUB Family, but across the United States, HUB
Northeast. Outlined below, you will see a breakdown of New Business versus Renewal month to month. In addition,
we have New versus Renewal broken out by our 4 Divisions at PBC (Environmental, Professional, Program and
Wholesale). Through April, we are up 14% with HUB Northeast year over year and have written over $13.9 million in
new business revenue.

New Business vs. Renewal by Month

$30,000,000 $25,573,823 2020 Total Premium
$25,000,000 $20,951,872 2021 Total Premium

$20,000,000

$15,000,000 $7,385,229
$8,858,275
$10,000,000
$6,651,966
$6,323,276

$5,312,868
$5,201,639

$5,000,000

$-

New Business vs. Renewal by Division

Environmental $691,037 YTD RENEWAL PREMIUM
$491,106 YTD NEW WRITTEN PREMIUM

Professional $7,825,452
$5,520,189

Program $18,702,322

$1,622,312

Wholesale $4,728,881
$- $6,352,995

$5,000,000 $10,000,000 $15,000,000 $20,000,000

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MONTHLY DIGEST | PAGE ◆ 7

HUB NORTHEAST SUCCESS STORIES

HUB Northeast had a GC / Owner’s Apartment project in New York that needed GL & Excess. This was a 7-story
12-unit apartment building with ground up construction. Stephanie Mulrane of PBC and Mark Sullivan were able
to place coverage for the GC & the owner for a total premium of $190,200. The GL was placed with ProSight & the
$5,000,000 Excess with Aspen. This was a 3-year project specific project placement. To find out more about our
Construction capabilities, please reach out to Stephanie Mulrane at [email protected].

Nicola Chen of HUB Northeast needed an Owners Contractors Protective policy for a Water treatment plant that
was upgrading their electrical system. Stephanie Mulrane was able to write the OCP, through Colony and their OCP
program. Next time your insured needs an OCP please reach out to PBC to find out more about their program with
Colony. Stephanie Mulrane can assist at [email protected].

PBC’s Environmental Team has recently written 3 different accounts for Pollution Legal liability. One was for a Real
Estate account at a Brownfield Site, the second was for a new property acquisition and the third was an Excess
Pollution policy due to contractual obligations. To find out how PBC’s Environmental Team can assist you, please
reach out to John Butler at John Butler at [email protected].

MARKET CONDITIONS, LOOKING AHEAD, COMMENTARY

As we mentioned in the beginning of this month’s edition, we had an outstanding April. May is off
to a great start and we look forward to closing the month out with some more wins. As summer
approaches and we start to see some of the regions open, please let us here at PBC know what your
plans are. We would love to get back out and meet the old friends and of course meet the new ones
that we have not met in person. Please stay safe out there and we thank you for your continued
support. If you have any questions about the information in this month’s edition and/or want to
know how we can help your region, please reach out to me any time.
Richard Malowney, CSO
Mobile: 425-224-0493
[email protected]

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