- 995
Looking for markets, preferably admitted, who will issue umbrellas over $2mil.
Personal Umbrellas Over $2mil.
- Thread starter FL P&C Broker
- Start date
-
- Tags
- personal umbrella
- Thread starter
- #3
- 995
We don't write stuff over $2mil very often and the 2 companies we use on a regular basis won't go over $2mil.
Personalumbrella.com won't go over $2mil unless their home carrier is AM Best rated.
Personalumbrella.com won't go over $2mil unless their home carrier is AM Best rated.
- Thread starter
- #5
- 995
F350 said:Why the hell would you write a home with a carrier that isnt rated?
P&C is completely different in Florida.
- 156
The admitted part will be difficult however I have a market (A rated) I will pass on if you would like email me.
They will also do the umbrella if the underlying is a Citizens policy, they apply a surcharge since the underlying liability is only a 100K. I did one recently with 13 rental exposures all Citizens DP-3 and of course the primary for $1500.
You can also do a wrap around but that's another thread on Citizens and the issues with Citizens policies.
- - - - - - - - - - - - - - - - - -
As mentioned in the thread already Florida P&C is different my friend.
They will also do the umbrella if the underlying is a Citizens policy, they apply a surcharge since the underlying liability is only a 100K. I did one recently with 13 rental exposures all Citizens DP-3 and of course the primary for $1500.
You can also do a wrap around but that's another thread on Citizens and the issues with Citizens policies.
- - - - - - - - - - - - - - - - - -
F350 said:Why the hell would you write a home with a carrier that isnt rated?
As mentioned in the thread already Florida P&C is different my friend.
Last edited:
- 624
What ratings do they have there?
- Thread starter
- #8
- 995
They are rated by Demotech (and I have heard that it is a sham, they squeeze you for the fee to give you an A' rating). Most of the companies actively writing HO policies have been around less than 10 years.
I think there are 3 AM Best rated companies writing here now; ASI, Universal North America and Florida Family. They are all hit or miss if they will write in a certain area.
I think there are 3 AM Best rated companies writing here now; ASI, Universal North America and Florida Family. They are all hit or miss if they will write in a certain area.
Universal N. America is not actually writing with their AM Best carrier in Florida. Per their marketing rep, their Florida company is only Demotech A. There are more that are AM Best; Florida Family, Safe Harbor, Safeway, Bankers, Chubb, and ASI, are all I can think of.
For the Umbrella, not sure if you are appointed with SafeCo, they will write up to 5mil, and are very competitive, they do require the auto though. Also, not sure if you have Chubb, but they will as well. USLI will write that high, but I can't remember if they are admitted, i think it depends.
- Thread starter
- #10
- 995
You're probably right, I was just guessing about Universal N. America. Haven't heard much about Safeway. Somebody told me that their Florida home owners paper wasn't A rated...who knows if they new what they were talking about.
We have Safeco so that could bean option. Everything he has now is separated, including 5 rental properties that are with Citizens which is another issue all together since they only have the $100k liability.
Similar threads
