BITCO/TAEP Safety Group

Plan Highlights:

  • Available to any appointed* BITCO agent
  • Remains in agent’s book including profit sharing with no commission reduction
  • Several pricing options available exclusive to TAEP members
  • All oil & gas accounts underwritten and approved by BITCO are eligible to participate. The TAEP membership can be sold at the same time as writing the account

Pricing Considerations:

  • Oil Lease Operation – GL codes 98150 and 98151 receive 20% ‘a’ rate discount
  • Package modification available on packages exceeding $5,000 from .80 to .65 at underwriter discretion
  • Pollution / Saline Underwriting Options:
  • $100,000 sub limit for PD only – 12% of the reduced ‘a’ rate for pollution and 6 for saline with $1000 deductible
  • $1,000,000/ $3,000,000 BI & PD claims-made stand alone pollution policy with a $2,000 deductible. TAEP members receive a discount of up to 30% with $1,100 MP on the “per well rate”
  • Business auto is ISO filed. MP for auto policy is $500 including hired / non-owned only
  • Property and inland marine packages available

TAEP Safety Group Dividend** Plan

  • All the above coverage’s qualify for the dividend plan in addition to pricing discounts already outlined. Attached is an up-to-date dividend history since 1998
  • Must be a member of TAEP to qualify, https://www.texasalliance.org/membership

The plan is very simple:

  • 55% QUALIFIED PREMIUM –  MODIFIED LOSSES = DIVIDEND AMOUNT
* If you are not an appointed BITCO agent, call Curtis Heptner at (940) 397-2771 to obtain a quote
**Dividends are not guaranteed and all dividend plans must be approved by the Texas Department of Insurance
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