By Eleanor Snite

BB&T-Atlantic Risk Management sells every type of required insurance for the tower industry. BB&T purchased Atlantic Risk Management three years ago, and along with the insurance company they got David Saul, one of the Atlantic Risk Management’s partners. Saul, who is now senior vice president, said the two companies were a good match – they had common goals, the way they ran their businesses was similar and the staff at both felt like they worked in a family atmosphere. Among the types of insurance the BB&T direct subsidiary provides are general and excess liability, workers’ compensation, professional coverage, and pollution. BB&T also has a bond department that can provide license, permit, bid, performance and tower removal bonds. They also have a full benefits department and can provide health, life, disability, and benefits.

Atlantic Risk Management and Saul got into the tower business around 1996. At that time, there were no insurance programs for companies that owned, managed or leased towers, so he developed his own by necessity. Today, the company insures several hundred tower companies from one tower mom-and-pop companies to large companies with hundreds of towers. Saul said that while some insurance companies are reluctant to cover towers in coastal areas, BB&T has no geographical limitations. The all-risk policy also covers floods and earthquakes. “I’m proud to say overall, our premiums have decreased since 1996,” said Saul. “And we have never raised our premiums because of claims.” BB&T-Atlantic Risk Management insures tower assets in every state, and in the past few years has extended its reach into Mexico and countries in South and Central America. “If we had one singular goal, it would be to insure towers across the globe,” Saul said.