E/O Coverage----suspended?

[Gulfman]

I'M scratching my head on this one

I was talking to a friend of mine who mentioned a case where an agent was being sued and his EO company was IN FACT defending him. (story was he sold a malpractice policy to some doctor who got sued for 5 million---someone died). ANYWAY, the agent had e/o coverage for 2 million (not sure what he did wrong---if anything). AND the attorney's are suing everyone (figures).

HOWEVER, i was told that he couldn't get E/O from any other carrier while the case is pending???

Is this BS or what? (i've never been sued but wat da hell?)

 

[FEX Quotes]

Not BS, but why would you be upset?

 

[Gulfman]

Not BS, but why would you be upset?

That's an interesting question. You mean you're not? So, another industry practitioner is DRAGGED through the mud over a lawsuit where he didn't have enough coverage---but that doesn't bother you??

Interesting...

NOT ME. If it happened to him, it could happen to anyone (including me). I do my best to stay outta trouble (do everything on the level, dot my i's cross my t's)), but agents make mistakes (that's why they get EO).

TRUTHFULLY, i don't believe the agent did anything wrong...its just some lawyers going after anyone and everyone to "shake them down"---that's the nature of the "lawsuit industry."

WHY DOES THAT MAKE YOU INDIFFERENT?


???

 

[VolAgent]

That's an interesting question. You mean you're not? So, another industry practitioner is DRAGGED through the mud over a lawsuit where he didn't have enough coverage---but that doesn't bother you??

Interesting...

NOT ME. If it happened to him, it could happen to anyone (including me). I do my best to stay outta trouble (do everything on the level, dot my i's cross my t's)), but agents make mistakes (that's why they get EO).

TRUTHFULLY, i don't believe the agent did anything wrong...its just some lawyers going after anyone and everyone to "shake them down"---that's the nature of the "lawsuit industry."

WHY DOES THAT MAKE YOU INDIFFERENT?


???

Will his current carrier renew his policy? If not, then yes I would be upset. As long as they will renew, I can't say I am surprised. In general, companies avoid insured's who have an open claim.

He probably could go to the E&S market, although it will be expensive.