How to insure a coal broker???

[cylon58]

Hey guys, I am trying to find liability coverage for someone who buys and sells coal, and is renting a train set to ship the coal. I have struck out so far with my MGA's.

1st, how to classify this risk? 2nd, what company might do this? 3rd, which MGA can give me access to said company?

If anyone has any ideas let me know. Thanks for the help!

 

[Markthebroker]

I am thinking this would fall under professional liability, but I'm not sure. Definitely a tough one.

 

[cylon58]

I am thinking this would fall under professional liability, but I'm not sure. Definitely a tough one.

Maybe. I had general liability in my mind. Insuring against damages caused by the transporting of the coal.

Professional liability would be E&O, correct? He is not looking to protect himself from an E&O claim, he is trying to satisfy a requirement of the Electric company he is renting the train from and selling the coal to.

 

[Markthebroker]

Well, what he needs and what he thinks he wants may be two separate things. Now, I may be wrong and someone here can set me straight. Either way I would talk to a professional liability broker.

That e&o policy may satisfy the requirement. I have been through something like this before.

 

[cylon58]

Well, what he needs and what he thinks he wants may be two separate things. Now, I may be wrong and someone here can set me straight. Either way I would talk to a professional liability broker.

That e&o policy may satisfy the requirement. I have been through something like this before.

OK, Sounds like good advice. I'll call a group I know doing professional liability and see what they say. Thanks for the advice!

 

[Markthebroker]

Let me know how it works out. I am pretty curious. If I am wrong, and that's not the way to go, then at least you know one place NOT to go!

 

[cylon58]

Will do...

 

[VolAgent]

I'd reach out to a transportation MGA. I can't begin to see how E&O would apply here.

Depending upon the contract with the hauling railroad and owner of the cars, he will almost certainly need liability coverage plus cargo. Maybe on an inland marine form? Also may be a need for pollution as well, depending upon the forms.

 

[cylon58]

I'd reach out to a transportation MGA. I can't begin to see how E&O would apply here.

Depending upon the contract with the hauling railroad and owner of the cars, he will almost certainly need liability coverage plus cargo. Maybe on an inland marine form? Also may be a need for pollution as well, depending upon the forms.

Good idea. Any idea who? Trucks are easy, trains are hard. Especially trains filled with coal. I tried this last week, but found out Covington won't do it because of the coal...

 

[VolAgent]

Good idea. Any idea who? Trucks are easy, trains are hard. Especially trains filled with coal. I tried this last week, but found out Covington won't do it because of the coal...

Unfortunately not. Good luck with it, sounds like it should be a good premium if you can place it.