Simple E&O Ratings Exclusion Poll

Discussion in 'E&O - Errors and Omissions for Insurance Agents' started by MichaelBurton, May 4, 2016.

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Does your E&O coverage use A.M. Best's "A-" rating as the cut-off for transactions it'

  1. Yes

    5 vote(s)
    62.5%
  2. Yes, but other NSROs are referenced.

    0 vote(s)
    0.0%
  3. No, a different NSRO is referenced.

    0 vote(s)
    0.0%
  4. No, there is no ratings-based exclusion.

    3 vote(s)
    37.5%
  1. MichaelBurton
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    MichaelBurton Well-Known Member

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    State:
    Texas
    The last two E&O policies I have owned will not cover me if I sell a policy that, at the time of sale, was issued by an insurance company rated below A.M. Best's A-.

    That leads me to believe that this must be a common clause; but, I thought I would check with other agents before I just assume. Hence, the poll.

    Please offer up any details you care to share about your specific experience with E&O coverage.
     
    Last edited: May 4, 2016
  2. TriciaS
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    TriciaS Well-Known Member

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    Generally that is true, but several B+ carriers I deal with offer supplement coverage (free of charge) for agents for business written with them. (ie Genworth and before Athene was upgraded) so check with the carrier to see.
     
  3. agentinsouth
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    agentinsouth Well-Known Member

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    Mine will do AM Near A, B and Demotech A.
     
  4. MichaelBurton
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    MichaelBurton Well-Known Member

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    Thank you for sharing this, AIS!

    ----------

    Yes, I recently discovered this directly from Genworth.
     
  5. agentjhc
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    agentjhc Well-Known Member

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    State:
    Georgia
    A- for mine...............................
     

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