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I do for nonstandard business. I think it would be a much harder sell if it were for preferred customers.
Be careful using those carriers, your own E&O policy will not cover you if they go under and you get sued by the insured.
what do you mean Fex? Example?
you mean they don't have an A.M. Best Rating? Like what carriers?
Be careful using those carriers, your own E&O policy will not cover you if they go under and you get sued by the insured.
Like accc or assurance america
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The sort of customer you place with these carriers is not the type who has much in the way of assets who would go to court for them. Even in the case of insolvency, Their 15 year old car would barely go over your retention anyway. May as well pay that out of pocket and save court costs. I realize there are a million loopholes your e&o could deny paying a claim anyway, but I've been told by big I that my e&o still covers insolvency by any of the NR carriers I represent, but that it might not for a carrier like UPC. Which isn't an issue for me.