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Great E&O coverage and service

I find it hard to believe that insurance professionals still spew the "insurance companies will do everything they can NOT to pay" party line, but that's neither here nor there. After reading some of the E&O threads here, I thought I would share -- what's been typical for me!!! -- a positive, good story.

About 6 months ago I was brought into a "dispute" between a business owner client, and the estate of his deceased brother (who was a partner in the business) over their buy-sell/operating agreement, and the policies which funded it. One thing led to another -- and a lawsuit was filed. A counter-suit was filed. While it was an active case, it went to arbitration. When it hit arbitration, I was contacted by both sides.

Eventually I was asked to appear as a witness for the plaintiff (the estate). Each side requested information from my files, policy info, etc. Over the course of many years, I sold about 10 to 12 policies total between the two brothers (and the wife of one brother), was involved with both the business and the personal/estate planning, and had around $400k in life premium, around $30k in disability, BOE, B/O, etc. Substantial client. I called the home office of the two carriers who issued all of the policies. I also called my E&O carrier and notified them as to what was going on.

My E&O carrier spoke with the two carriers, reviewed the correspondence, the request for information, the two carriers corresponded with both attorneys -- including me as part of their position -- and my E&O carrier completely integrated and coordinated with the two home office's, their legal department/people, etc.

In the end -- my E&O offered a "pre-trial/litigation/witness fund" of $25,000, with a reserve of $50,000 -- simply to retain an attorney for me (exclusively), to represent me, advise me, etc. Whether coincidental or not, the attorney was the co-chair of the department of a major, national law firm. They didn't pick some HMO, local yokel, paper-pushing hack! LOL. After my initial meeting with him, I notified, but did not officially retain my own attorney (my guy, my choice), which I have done in the past. That's how comfortable I was with this guy! LOL.

By this time, both sides' attorneys' wanted to meet with me, pre-deposition, and question me as to what I knew, know, remember, etc. Both sides requested files, information, correspondence, etc. -- and all of this went through the attorney. he was the point-person for anything and everything. We had conference calls/web meetings as needed, etc. Obviously, in the end the case was settled and closed. My E&O carrier stepped up, did great, and truly had my back the entire time! So, positive, very good story here!
Hi, who is your E&O provider. I'm looking to change mine. Thanks

Continental & Zurich split my primary coverage (via two PPGA contracts, which includes all business "outside" the two contracts), and Berkshire Hathaway handles my excess coverage. This claim was handled by Continental and they coordinated with Zurich and Zurich went along with it. I sold policies for two carriers, and policies from both were subject to the suit. Like I said, the E&O carriers did an excellent job!
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