What Insurance Do You Have on Your P&C Agency?

[nyc2phi]

EPLI that comes with a BOP will usually have very low limits which for some will suffice because it is very cheap to add on and you can't change the limits, atleast with most companies that I have seen offer it with the BOP

Getting a seperate EPLI policy gives you the ability to shop around a little more for something custom fit to your needs.

 

[BlockO]

^^^^ very low limits.... How low exactly? Stand alone EPLI coverage is usually capped off at 2 Million (although they do offer the option of having legal defense costs not count against that 2M).

 

[iiinycboi]

i thought all legal defense is not included? like if you had a 1MM coverage, and you lost a case for 1MM and the legal defense cost 400k insurance still pays 1.4mm on your behalf??

 

[nyc2phi]

I think like 25 - 50 K are the limits I saw with one company

 

[NCAgent]

What company do you like for EPLI as a standalone?

What limits do you try to write for the EPLI for a "standard" or "better than average?"

For example, I always write 100/300 auto limits as a minimum, though I try to shoot for 250/500 and then I really aim for 250/500 with an umbrella.

What is your "100/300" insurance for your agency, your "250/500" for the agency, and then the "250/500+umbrella" for the agency with the policies you have?

 

[cottonland]

Hate to bring it up, but CRIME coverage.......... with a sufficient limit!!!!!

 

[Guest]

Hate to bring it up, but CRIME coverage.......... with a sufficient limit!!!!!

thx for using more exclamation points than you have posts.

 

[Tucker444]

Standalone EPLI is most likely to give you the broadest verbiage.

It will give you more choices as someone else said you have more choices in shopping.

Exclusions are what I find to be key. A BOP EPLI likely has the tightest terms with more exclusions.

We sell a lot of EPLI. I am no expert but play one on weekdays.

I have a Broker who is an expert. I recently made a similar post to yours.So I got a BOP and chose the EPLI with it rather than stand alone. My resident expert reviewed and thought for my agency it would be sufficient. The cost for the stand alone was nearly triple.

I also have Work Comp and of course E&O. My BOP includes Hired andNon-Owned Auto too.

 

[NCAgent]

Has anyone tried the insurance package with the Hartford? I think it is e&o and data breach combined with a BOP. It looks appealing and The Hartford is pretty competitive in my area.

 

[Tucker444]

Has anyone tried the insurance package with the Hartford? I think it is e&o and data breach combined with a BOP. It looks appealing and The Hartford is pretty competitive in my area.

This is what I bought. They have the work comp too.