E&O that Covers C Rated Products

Discussion in 'E&O - Errors and Omissions for Insurance Agents' started by khang.mis, Apr 14, 2014.

  1. khang.mis
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    khang.mis Well-Known Member

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    It has come to my attention that Lloyd's does not cover any auto product I sell with an AM rating of C+ or lower. Considering that I have a huge nonstandard book with Affirmative and Access General, what E&O carrier would cover these C rated carriers?
     
  2. oldinsuranceguy
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    oldinsuranceguy Active Member

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    E&O insurance policies typically have an exclusion related to the insolvency of carriers rated less than a specified rating, such as B+. This means that you would be covered under most E&O policies for claims in connection with policies placed with a C-rated carrier, but not if the claim is related to the insolvency of such carrier.
     
  3. Soaringagent
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    Soaringagent Well-Known Member

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    Why do you write C rated carriers?
     
  4. EObroker
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    EObroker Member

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    There are E&O carriers in the marketplace that will carve back the insolvency exclusion or remove it completely. Let me know if you need help. All the best! Ant
     

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