E&O for Adjusters? Can Anyone Here Compete with what I Have?

[Accelerated]

Well, it's renewal time yet again. Currently paying a bit over $1,600/year for a $1,000,000/5k deductible E&O policy for claims handling.

I recently had a client demand a $2,000,000 policy (even though the average claim I write for them is ~$7,500), and I readily agreed and requested to purchase the policy through them (it never hurts to purchase your policies from a carrier that you handle claims for). They did not offer E&O coverage, and I cannot seem to find an adjuster oriented policy with a $2,000,000 limit for some reason. The only policies offered have been for 250k, 500k and 1m. I advised the client of this dilemma and they dropped the matter entirely, which is good, because I really do not see screwing an adjustment up to the tune of $1,000,000 or better.

Anyway, I am completing my renewal documents today and will submit them this evening. If anyone can come up with a competing policy with a better premium (for the same coverage and deductible that is currently in place, send me a message. Never had a claim filed against my E&O, handle a few thousand claims a year if its a busy catastrophe season, average claim is around 5k.

 

[Accelerated]

Just bringing this back up to the top. Got a copy of my new policy and the premiums went up $200/year. I have about a week to mail the premium out and would love to take a glance at some alternatives.

Surely there must be some enterprising agent here that wishes to sell insurance.....

 

[Accelerated]

Well I have renewed... not really happy about it, but I cannot let a professional liability policy lapse.

If anyone here decides they would rather sell some insurance that play on the forums, here is what I am after:

Professional Liability/E&O for an Insurance Adjusting firm, handling:
Property (Commercial & Residential, with a little Industrial thrown in, up to and including offshore property)
Casualty (Primarily general liability and commercial liability, but we do handle the occasional product defect or tractor trailer accident scene investigation)
Marine (Hull & Machinery as well as all forms of Marine Liability, and support facilities)
Avaiation (Hull and liability)


I require at least a 1,000,000 policy limit, and the option to have individual large loss claims individually insured would be of great benefit, though I have never heard of anyone able to do this.

I desire the ability to offer individual claims insurance to each of my 10-99 adjusters on a per-claim basis (I have seen another firm do this and thought it was brilliant).


So, please, if you do feel like selling a policy and making a little money, (and gratitude), take a break from the forums and get in touch with me, either via the forums or my website (in the signature). I would really like to explore my options.

 

[InsuranceRenegade]

Should be an issue - shoot me an email at [email protected] - ill ask one of my carriers if they can offer a 1099 endorsement for xxx dollars per year