Markets that Quote Commercial GL W/active Lawsuit...

Aug 20, 2015

  1. SoniaE
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    SoniaE New Member

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    Im having a difficult time finding a market to quote a commercial gl with lawsuit, any suggestions I'm in TX?
     
    SoniaE, Aug 20, 2015
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  2. XdateNotSexDate
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    XdateNotSexDate Expert

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    Need a little more info than that- industry/operations, what happened to bring about the law suit, pending reserve, how much legal expenses have been paid thus far, premium size of GL.

    I don't understand why a market wouldn't want to quote based on a pending law suit, it's the nature of GL to cover a claim. Is it a freak occurrence with potential to be catastrophic or do they have a high frequency of small claims?
     
  3. SoniaE
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    SoniaE New Member

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    Insured is a Development Corporation, builds homes, lawsuit is for wrongful foreclosure, however claim is filed thru their D&O policy. They are currently with another agency but they are unable happy due to no return calls.

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    I have asked them to provide loss runs I'm still waiting for them.
     
    SoniaE, Aug 22, 2015
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  4. XdateNotSexDate
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    XdateNotSexDate Expert

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    A PL claim shouldn't effect a CGL quote since CGL excludes PL. Maybe you're approaching a program that combines coverage? I'm not gonna play a guessing game though.

    Not sure of your time constraints but I'd wait for those loss runs to see what you're really dealing with. Premium size is a factor too, hopefully the commission is worth the effort.

    Your best bet might be to hammer away at their agent's credibility and go for the BOR. Most carriers have an agent portal where they can get loss runs immediately, at the very least they can just ask the u/w for them and within 24hrs have them via email.

    So you're against an agent that is unresponsive to insured's contact, they're inhibiting your ability to offer the insured a viable option bc you don't have loss runs..2 items.

    But my main question would be to the effect of 'when your agent last came out for their quarterly (or biannual..or whatever) claim review what was the latest news/progress on this claim, how much was paid out, how much in reserve and did they give you a copy of their loss analysis (or an estimated final amount).'

    Hopefully the response is 'what are you talking about? They don't do any of this for me.'

    www.InsuranceXdate.com - prospecting & lead management for commercial agents
     
  5. SoniaE
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    SoniaE New Member

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    Hi there your right, I haven't received any other info nor loss runs, premium isn't that high I was just trying to get them insured & help out any way I could. I appreciate that you answered my question. Thank you.
     
    SoniaE, Aug 25, 2015
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