By Jim Utter
Director of Journalism
Innovative Program Solutions, a full-service Managing General Agent (MGA) practice focused on designing specialized insurance programs, has launched a new lines program specifically created for tunnel car wash operators.
IPS, a subsidiary of Holmes Murphy – one of the nation’s largest privately held insurance brokerages, has partnered with Liberty Mutual Insurance in designing the program to help drive down the total cost of car wash risks.
Car washes are unique businesses with varied operational risks, including equipment breakdowns, water damage, slip-and-fall liability, and environmental concerns.
Despite this, many policies utilized today are generic in nature and don’t include endorsement that would cover all contingencies with car wash operations.
“It’s an exciting time for IPS, as we work to help car wash owners take control of their insurance with tailored coverage that will grow and evolve with their business,” said Tim Anders, President of IPS. “We, along with Holmes Murphy, are equally excited to do so with Liberty Mutual.
“We believe that by combining our expertise, industry insights, and innovative risk management experience with Liberty Mutual’s strong brand, team, and robust product offerings, we are providing a program that offers best-in-class value while providing peace of mind and a collaborative risk-focused partnership for tunnel car washes.”
Features of the program include comprehensive risk and safety support, consultative expertise, and timely policy administration.
In addition, clients will have access to Liberty Mutual’s industry-leading claims services and benefit from the efficiency of its proprietary underwriting platform, broad coverage, and specialized features.
The flexibility to add coverage enhancements will also provide unique value to the tunnel car wash segment.
“Those who take advantage of the program will have access to loss control resources that are designed to identify risks and reduce exposures; a team of professionals with deep industry knowledge who will offer proactive, consultative advice on insurance and risk management strategies; and efficient handling of policy life cycle processes,” said Anders.
“The pricing approach will reflect the program benefit of risk control and loss reduction. As the program exhibits better-than-average loss activity, pricing will trend favorably, reflecting the positive performance and reduced risk.”
This new all lines program blends the strengths of IPS’s program administration, Holmes Murphy’s industry expertise, and Liberty Mutual’s robust insurance offerings to provide an innovative insurance solution aimed at ensuring long-term success for tunnel car wash owners.
“The program is structured to address the unique needs of automated car wash operations, focused on targeted exposures, loss control, and risk management for operators,” said Zach Walton, vice president and division underwriting manager for Liberty Mutual.
“Holmes Murphy is a significant partner of Liberty’s in multiple profit centers, and we are thrilled to add to the relationship with the Innovative Program Solutions team. IPS brings delegated authority, expertise, and a unique distribution strategy that will provide long-term success in this niche.”
