NY Insurance broker renewal - up 40% this year, 20% last year. Need options

[intluser]

Hello all,

I just received my E & O renewal quote for P & C / L & A and it's gone up 40% to nearly 1500.00. Last year, it went up 20%. I've been an independent broker for over 20 years and never had a claim. Does anyone have any suggestions on where to go for E & O insurance for NY brokers?

Thank you!!

 

[Allen Trent]

That actually sounds pretty cheap for multi-line, especially if you have employees/producers. Most multi-line agencies I know pay more than double that amount & in states way less litigious/regulated as NY

in todays world, if you do have employees, you want to make sure it covers Employee Dishonesty, etc. Lastly, more recently Cyber Liability coverage has become imperative in case you or your team causes a hack to a customer or a carrier.

 

[marindependent]

E & O insurance for NY brokers?

My guess is that this may answer your own question...New York.

Try Hiscox if they are in your state.