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Simple E&O Ratings Exclusion Poll

May 4, 2016

?

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
    Offline

    MichaelBurton Super Genius

    Posts:
    180
    Likes Received:
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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
    Offline

    TriciaS Expert

    Posts:
    83
    Likes Received:
    0
    State:
    New Jersey
    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.
     
    TriciaS, May 18, 2016
    #2
  3. agentinsouth
    Offline

    agentinsouth Guru

    Posts:
    649
    Likes Received:
    2
    Mine will do AM Near A, B and Demotech A.
     
  4. MichaelBurton
    Offline

    MichaelBurton Super Genius

    Posts:
    180
    Likes Received:
    0
    State:
    Texas
    Thank you for sharing this, AIS!

    ----------

    Yes, I recently discovered this directly from Genworth.
     
  5. agentjhc
    Offline

    agentjhc Guru

    Posts:
    1,307
    Likes Received:
    3
    State:
    Georgia
    A- for mine...............................
     
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