SPECIALTY
The hard market persists,
as well as the need for coverage
By Larry G. France
Did you hear the one about the attorney who went into the doctor’s office?
You may never either. As reported in USA Today, June 14, 2004, some doctors are refusing to treat attorneys. Doctors say that their ethical oath applies only to emergency situations.
A respected nurse in Texas was dismissed because her husband was an attorney with a firm that accepts medical malpractice litigation. That is how serious the medical malpractice situation is becoming.
Not all classes of professional liability are that bad, but attorneys, accountants and physicians would seem to top the list.
Michelle Duffett of Insight Insurance Services, Inc., says that the hard market is persisting for professional lines, although rate increases are not as high as they have been in the past. “As is typical in any market environment, the newer entrants are under-pricing their product in comparison to established programs with seasoned underwriters,” states Duffett.
“Accountants professional liability changes are widely different depending on the firm’s practice. Accountants who perform services for publicly held companies are hardest hit. CPA firms providing this service are subject to the toughest underwriting guidelines, as well as the largest rate and deductible increases. Accounting firms that are also selling investments are likely to feel hard market influences. Small and medium-sized accounting firms with standard accounting practices are subject to modest increases,” she says.
According to Duffett, the architects and engineers market continues to be hard. Premiums are expected to increase again in 2005. In addition to a continuing correction from inadequate pricing during the soft market, inflationary pressures on construction costs are impacting rates. Projects that were designed during the construction boom are starting to have an impact on claims frequency as well. Hard-to-place classes include structural engineers and firms providing services on multi-family housing projects, such as condominiums.
Insurance agents E&O should experience modest rate increases in 2005 compared to the significant ones of the past several years.
Everyone’s favorite—lawyers professional liability—has been a very hard market.
“You may have noticed that lawsuits ebb and flow with the economy,” observes Pat Moore, of Pat Moore Insurance. “The insurance industry has come to attention and gone back to the underwriting basics and is coming to terms with adequate pricing, which is continuing to rise on more complex risks and in the more risk-prone geographical areas. We have shed, or are shedding, the ‘short timers’ (companies entering briefly with low rates and exiting when the claims begin to emerge). Increased competition is stabilizing the options for smaller firms. We are preparing to run the marathon.”
Do your homework! That is the advice Pat gives to agents when trying to place LPL (lawyers professional liability).
• Ask your prospect about the firm, areas of practice, number of attorneys, and claims history and request a copy of the last application completed by the firm.
• Check the completed application to be sure it is complete, accurate, and signed.
• Is claims information concise and loss information provided? Don’t send suit papers. Do send loss runs from prior carrier. Insured must request in writing from the former carrier.
Seems like good advice for most submissions regardless of the class of business.
Unfortunately the short timers Moore mentioned do exist and accelerate the soft market.
“We are at the tail end of the hard market, returning into the beginning of a soft market where LPL carriers are willing to quote below their expiring premium under competitive pressures,” says Danielle Hardiman of Brown & Brown, The Lawyers Protective Plan. “However, some LPL carriers still appear to be taking action and becoming more conservative in their underwriting approach.”
“Efforts have been made to assist agents in utilizing this product as a door opener for new business, and as a means of closing the door on existing business to competitors,” says Joseph Schneider, RPLU, of Jimcor Agencies. “Training agents and educating our agency partners is important to Jimcor, and through CE and other marketing tips we hope to assist our clients in growing their own business successfully and profitably.”
Schneider says that in today’s market, professional liability insurance is needed more than ever. The challenge agents seem to face is convincing clients who in the past never had a loss to see the need. As discrimination, harassment, and other associated claims flood the courts, Jimcor expects professional liability to rise dramatically.
There are some positive attitudes towards the future of the professional liability market. Bill Reese, National Insurance Professional Corporation/a division of Risk Placement Services, advises that as much as 25% of their total professional liability book will be new business if the current trend continues this year. “NIPC feels the market is fairly stable at the moment, but is showing definite signs of softening as underwriting trends in the areas of child care agencies, adoption, foster care and residential care facilities have gone from brutal to semi-strict,” says Reese. “We are able to offer $2 million/$4 million primary with umbrella and excess available.” Reese indicates that the pricing trends are easing now at about 25% higher at NIPC than they were at the onset of the hard market.
The Canadian market is also seeing a softening trend.
“Companies are looking for areas in which to grow their premium volumes, and there are indications in 2004 that competition is returning to the market place according to D. Carol Gawrylash, Totten Insurance Group. “This is not the case in the area of E&O and medical malpractice insurance,” she says. “The number of companies in Canada writing this line of business remains relatively small. Insurers are continuing to apply rate increases on renewals and there is no relaxing of terms and conditions. Admittedly, these may not be as high as the increases we were seeing a year ago. The trend appears to be more risk underwriting with accounts being written on their own merits. Architects and engineers is where we continue to see underwriters being very selective in the areas where they are willing to entertain. In Canada, medical malpractice insurance for quasi-medical risks, such as herbalist, aromatherapy, etc., remains reasonably priced and reflective of the risk. Financially related risk remains difficult to place since the selection of insurers is few and far between.”
Gawrylash says that the need in the market is for the smaller organization. Consults that start out with minimal receipts find it difficult to find coverage. If the risk is considered, in most cases minimum premium levels make the coverage unaffordable.
“Underwriters seem to recognize that the current rating levels and risk assessment are the answer to a profitable book of business. Hopefully, this will continue and there will be no further erosion in the market in Canada writing professional liability,” says Gawrylash.
Professional liability, medical and nonmedical comprises the largest list of coverages in The Insurance Marketplace. It also appears to have the most potential for sales opportunities and the most sales resistance from both the agent and client. It can also be a candidate for agents E&O coverage by leaving the client bare of coverage.
Future Specialty Lines articles will focus on Apartment/Condominiums in November, Preview of the 2005 Specialty Lines Market in December, and Contractors in January 2005. The 2005 Insurance Marketplace will be published and distributed in December.
The following have responded to our survey and indicated that they are markets for professional liability risks. Pay close attention to target classes and classes not written, as well as areas of operation.
An E&S broker operating in DE, MD, NJ and PA with limits of $5 million. Target classes are architects/engineers, miscellaneous professions, home inspectors, Internet providers, travel, financial consulting, contractors, employment advertisers, and technology. Houston Casualty, Lloyd’s, Everest, and Steadfast are the carriers.
An E&S broker/program administrator operating in AL, FL, GA, MS, NC, SC, TN and TX with limits of $5 million architects/engineers (minimum deductible: $2,500, minimum premium: $2,500); $100,000 - $5 million lawyers liability (minimum deductible: $0 [$20,000 max unless financials provided]; minimum premium $1,000); $1 million/$3 million med mal (minimum deductible: $0; minimum premium: $5,000). Target classes are all architects/engineers; lawyers (any size law firm, newly admitted attorneys, part-time attorneys, moonlighting attorneys, “employed” lawyers, attorneys or firms with prior losses, bar complaints or disciplinary actions), and med mal (distressed physicians, surgeons and dentists, clinics, labs, blood banks and home health care agencies). Will not consider armed security, financial advisors, or stockbrokers. Can offer miscellaneous E&O, D&O, nonprofit D&O, EPL and public entities/officials. All carriers are A rated.
An MGA/E&S wholesaler that operates nationwide with all limits. Will consider all classes. Represents more than 70 carriers.
An E&S broker/program administrator that operates in AL, FL, GA, MS, NC, SC, TN and TX with limits of $5 million architects/engineers (minimum deductible: $2,500, minimum premium: $2,500); $100,000 - $5 million lawyers liability (minimum deductible $0 [$20,000 max unless financials provided], minimum premium: $1,000); $1 million/$3 million med mal (minimum deductible: $0, minimum premium: $5, 000). Will consider all firms: newly admitted attorneys, employed lawyers, attorneys or firms with prior losses, bar complaints or disciplinary actions against them, distressed physicians, surgeons and dentists, clinics, labs, blood banks and home health care agencies. Will not consider financial advisors or stockbrokers. Can offer miscellaneous E&O, D&O, nonprofit D&O, EPL and public entities/officials, dentists. All carriers are A rated.
An insurance company operating in CA and specializing in health care liability for physicians, medical groups and health care facilities with limits that vary by line of business. Will not write assisted living centers, home health care, hospitals, nursing homes, or any residential facility. Target markets are managed care organization E&O (except HMOs); and professional liability (medical)-health care risks. This includes physicians & providers: physicians (MDs/DOs), nonstandard physicians, physician groups/clinics, and chiropractors; and health care facilities: community health centers, dialysis centers, surgery centers, x-ray/imaging centers (stationary or mobile), clinical pathology laboratories, counseling/mental health facilities, dental labs, mobile medical labs, ocular labs, occupational rehab centers, and other miscellaneous health care facility risks. Can also offer D&O (health care risks only) including or excluding EPLI; and billing E&O (solo physicians and small medical groups only). American Healthcare Indemnity and SCPIE Indemnity are B rated carriers.
An insurer that operates in most states with limits of up to $11 million per policyholder or for individual projects. Target classes are environmental professionals—consultants, engineers, professional and labs. Will not consider non-environmental professionals or geotechnical risks. Can offer ECPL and contractors pollution liability, ECPL and commercial GL, ECPL, CPL and CGL. American SafetyRRG, American Safety Casualty, and American Safety Indemnity are A rated.
An MGA/program administrator/E&S broker that operates in all states. All carriers are rated A or better.
An agency binding business on behalf of others that operates in all states except FL, LA and TX with limits of $1 million/$3 million (GL and professional liability). Target classes are retailers/wholesalers. Claims-made liability for nursing homes is also offered. Will not write lockdown facilities. Lloyd’s is the A rated carrier.
A California wholesale broker that operates in AZ, CA, OR, TX and WA with limits of up to $5 million. Target market is P-C agents/brokers. Will write professional liability but will not write lawyers, medical, A&E or for-profit D&O. Carriers are A rated or better.
An MGA/broker that operates in DC, DE, FL, MD, NY, PA and VA with limits that vary by class. Target classes are miscellaneous E&O, architects/engineers, med mal, EPLI, specified medical, tech/computer consultants, nonprofit D&O, mortgage brokers, bankers, title agents E&O. All carriers are rated A or better.
An MGA that operates nationwide with limits of $5 million. Target class is mortgage banks. Can offer fidelity and mortgagees E&O. Lloyd’s is the A- carrier.
An MGA that operates in all states except KS, NH, NY and RI with limits of up to $1 million/$3 million. Target class is any physician, surgeon, podiatrist or dentist unable to obtain coverage in the standard markets. Professional Underwriters Liability is the B++ rated carrier.
An E&S broker operating in AR, IL, KS, MO and OK with limits of $100,000 - $25 million. Target classes are home inspectors, environmental, health care providers (not physicians), and home health agencies. Can offer GL and professional on certain classes, D&O, public officials and police professional. All admitted and nonadmitted carriers are A rated.
An MGA that operates in all states except AK, HI, MS, ND, OR, WV and WY with limits of up to $10 million. Target class is 1-19 attorneys (areas of practice varies). Will not consider patent, securities or entertainment law. Can offer lawyers professional liability. NCMIC Insurance is the A rated carrier.
A program administrator that operates in all states with limits of $10 million. Target classes are security guards, private investigation, burglar/fire alarm, and armored car companies only. Can offer umbrella, GL, fidelity, and workers comp. Chubb, AIG, Zurich, Clarendon, and First Mercury are the carriers.
An MGA/E&S broker that operates with limits of $5 million and up. Will consider all classes. Can offer GL, auto, EPLI, property, D&O, and architects E&O. Various carriers are used to place coverage.
An MGA/E&S broker that operates nationwide (brokerage access, captive/alt risk/RRG formation) with various limits. The MGU program is available in IN only. Target classes are nursing home PL/GL and alternative risk opportunities. Various carriers are used to place coverage.
A wholesaler/broker/program administrator that operates in all states except AK and HI with limits of $500,000 - $1 million (home inspectors E&O); and $500,000 - $5 million (E&O/D&O/EPL on average but as a broker can layer with multiple facilities). Target markets are home inspectors E&O, all forms of E&O, for-profit D&O, hard-to-place med mal. Exclusively provides casualty coverages including all forms of professional liability. Carriers are AIG, Chubb, Great American, Lloyd’s and other A rated carriers.
An MGA that operates in all states with limits of $1 million (property managers); $1 million (EPL); $250,000 (tenant discrimination); $2 million (real estate); and $5 million (all other classes). Target classes are nonprofit D&O, community associations; corporate D&O; for-profit EPL; and technology, specified professions, property manager, real estate, and insurance agent E&O. Will not consider architects, accountants, or lawyers. Can offer EPL and tenant discrimination. United States Liability is the A++ rated carrier.
An MGA/agent/broker that operates in all states with limits of $250,000 - $10 million. Target market is most information technology classes. Will not consider medical applications or Web site gaming. Can offer package, workers comp, D&O, auto, fidelity, umbrella, foreign EPL, and credit insurance. All carriers are rated A or better.
A wholesale agency operating in AL, AR, GA, IA, IL, IN, KS, KY, MI, MN, MO, MS, NC, ND, NE, OH, OK, OR, PA, SC, SD, TN, WA and WI with limits of $1 million (can be written only in conjunction with a church package policy). Target class is churches and synagogues only. Zurich, Argonaut Great Central, Continental Western, and Hawkeye Security are the carriers.
An MGA/E&S broker that operates in NJ and NY state only with limits of up to $5 million/$5 million—excess limits also available. Target markets are miscellaneous professional liability classes, specified medical classes—entities and individuals, difficult-to-place lawyers/doctors, environmental consultants, financial services professionals, architects/engineers, computer consultants, real estate agents professional liability, nursing homes, day care centers, employed lawyers, accountants, and EPL. Carriers are Admiral, Chubb Executive Risk, First State, Essex, Tudor, USL, Lloyd’s, Chubb Custom Market, Western World, and American Empire.
An MGA that operates in all states with limits of $5 million. Target classes are security guard companies, insurance adjusters, burglar/fire alarm companies, and third-party administrators only. Can offer GL and workers comp. All carriers are A rated.
An insurer with surplus lines availability in all states except LA, RI and WI and with limits of up to $5 million (nonmedical professional liability), up to $10 million (medical professional liability), and up to $10 million (D&O liability). Target classes are insurance-related classes (nonstandard), lawyers (nonstandard), hospitals and health care facilities, miscellaneous medical facilities, physician groups and medical groups (10-plus physicians). Will not consider architects/engineers, accountants, university teaching hospitals, ER, OB/GYN, or radiology groups. Can offer primary and excess coverage. Coverage is written on Darwin National Assurance, Platte River, Capitol Indemnity, and Capitol Specialty paper.
Hatboro, PA office
420 S. York Rd.
Hatboro, PA 19040
Contact: Judy Klingerman
Fax: (215) 672-7983
E-mail: klingerman@dvua.com
Pittsburgh, PA office
One Forestwood Dr., Ste. 203
Pittsburgh, PA 15237
Contact: Linda Bobro
Fax: (412) 366-1760
E-mail: bobro@dvua.com
Florham Park, NJ office
Contact: Charla Woodeshick
Fax: (973) 377-2430
E-mail: woodeshick@dvua.com
An E&S wholesaler operating in DE, KY, MD, NC, NJ, NY, OH, PA, SC and VA with limits of $250,000 - $50 million, depending on class. Target classes are architects/engineers, lawyers, miscellaneous professionals, consultants, media risks, health care risks, technology risks, insurance agents/brokers E&O. Will not write accountants, home inspectors, or financial planners/advisors. Can offer full prior acts, defense outside the limit, bilateral tail, subcontractors as additional insureds, and first-dollar defense. All admitted and nonadmitted carriers are rated A- or better.
An MGA that operates nationwide with limits of up to $5 million. Target classes are insurance agents/brokers (primary or excess), and medical professional liability (excess only). All carriers are A rated.
An E&S broker operating nationwide with limits of $10 million. Target classes are environmental consultants and laboratories. Can offer CGL. ACE, AIG, Colony, Evanston, Everest, Hudson, Seneca and Steadfast are the carriers.
An E&S broker that operates nationwide with all limits. Will consider all classes. Carriers are Prime Insurance Syndicate (rated B-) and Lloyd’s and Demotech (rated A or better).
An MGA that operates in all states with limits of $5 million - $10 million. Target classes are mortgage banks, small corporate entities, and nonprofit entities. The carriers are Lloyd’s (A-) and St. Paul Travelers (A).
An MGA that operates nationwide with limits of $10 million. Target classes are engineers, consultants, and laboratories. Can offer CGL, and contractors pollution liability. Hudson and Lloyd’s are the A rated carriers.
A wholesale broker that operates in all states but AK and WY with limits of $25 million (primary and excess). Target classes are accountants, lawyers, medical, agents/brokers, and real estate. Can offer package, workers comp, crime, EPL and fiduciary. All admitted and nonadmitted carriers are rated A+.
An insurer that operates in all states with limits of up to $25 million. Target classes are for-profit companies (publicly traded and privately owned), and nonprofit organizations. Can offer D&O, fiduciary and EPL. The company is rated A.
An MGA/E&S broker operating in CA only with limits of $1 million/$2 million. Target classes are EPL, lawyers, accountants, computer technology, real estate agents, as well as miscellaneous classes. Can also offer CGL. Carriers are Philadelphia Cos., rated A+; Evanston, rated A; Lloyd’s, rated A-; and Colony, rated A.
An E&S broker that operates in all states with primary limits of $10 million (excess policies also available). Will consider all classes, including hard-to-place risks. Can offer D&O, EPL, property managers, tenant discrimination, public access, defibrillation, professional liability, and real estate agents. All carriers are A rated.
A managing general underwriter that operates in all 50 states with the following limits: nonprofit community association D&O liability, $3 million ($5 million on referral); nonprofit community association fidelity/crime, $3 million; nonprofit community association umbrella, $1 million - $5 million; property manager E&O, $1 million ($2 million on referral); and property manager fidelity/crime, $3 million. Target classes are nonprofit homeowners associations, property owner associations, condominiums, cooperatives, timeshares, and commercial associations where membership is premised on real property ownership. (Other nonprofits are written by Aon Association Services.) Will not write for-profit associations, or associations where membership is not based on real property ownership. Can offer nonprofit community association D&O, nonprofit community association fidelity/crime, nonprofit community association umbrella, property manager E&O, and property manager fidelity/crime. The A rated carrier is Continental Casualty.
A program administrator operating in all states except HI and NY with limits of up to $5 million. Target classes are architects/engineers, accountants, and insurance agents. Everest National (A+) and Safeco (A) are the carriers.
An MGA/E&S broker that operates in CT, DE, MA, MD, ME, NH, NJ, NY, PA, RI and VT with limits that vary by coverage. Can offer EPL, miscellaneous E&O, and for-profit/nonprofit D&O. Various carriers are used to place coverage.
An E&S broker that operates in all states with limits that depend on the carrier. Target classes are environmental, IT, architects/engineers, accountants, multimedia, and all miscellaneous professional liability classes. Can offer D&O. All carriers are A rated or better.
An E&S broker operating in all states with limits of $100 million (minimum premium, $5,000). Target classes are technology companies or companies that use technology, as well as financial institutions. Call regarding hard-to-place. Can offer package and excess. All carriers are A rated or better.
An E&S broker operating in DE, MA, MD, NJ, NY and PA (and other states as filings allow) with limits of up to $25 million available. All classes are considered; several programs are available. All professional lines are considered, including D&O, EPL, E&O, fiduciary, etc. All carriers are rated A- or better.
An MGA that operates in all states. Target classes are insurance agents/brokers, including MGAs and wholesalers. Liberty Insurance Underwriters is the A rated carrier.
The Lighthouse Companies
7630 Little River Turnpike, Ste. 200
Annandale, VA 22003
Contact: Peter Stanislaw, Ext. 304
Phone: (703) 770-3700
E-mail: pstanislaw@lighthousecompanies.com
Web site: www.lighthousecompanies.com
A wholesaler operating in all states with limits of $1 million - $10 million. Target classes are lawyers professional, tech firms/media, and insurance agents E&O. Will not consider med mal. AIG, St. Paul Travelers, Lloyd’s, GenStar, Hudson, and James River are the A rated or better carriers.
An E&S broker that operates in AR, CO, FL, IA, IL, KS, MO, MS, OK, TN and UT with limits of $100,000 - $10 million. Target classes are non-profit D&O, EPL, realtors E&O, and insurance agents E&O. Can offer D&O liability and employment practices. USLI, Tudor, and Essex are the A+ rated carriers.
An MGU that operates in all states in the United States as well as its territories and possessions and DC. With limits of $10 million. Target classes are a variety of service businesses, not-for-profit organizations, and miscellaneous non-certifying professionals. Will not consider traditional certified/licensed professionals (attorneys, architects/engineers, medical professional, CPAs, etc). Can offer copyright infringement, contingent BI/PD, worldwide policy territory. Various carriers are used to place coverage.
An E&S broker operating in NJ, NY and PA with limits of $1 million. Will consider all classes. Various carriers are used to place coverage.
A program administrator that operates nationwide with limits of up to $6 million maximum. Target classes are environmental consultants and engineers. Will not write geotechnical and architects/engineers. Can offer CGL and contractors pollution liability. All carriers are rated A+.
A program administrator operating nationwide with limits that vary by risk. Target classes are consultants, computer technologies, claims adjusters, and real estate agents. Will not consider accountants, financial advisors, or real estate developers. Can offer professional liability only. All carriers are A rated.
A program administrator/wholesale broker that operates in all states with limits of $1 million/$3 million, with umbrella/excess of an additional $4 million. Target classes are physicians and allied health care facilities. Can offer med professional disability/umbrella.
An underwriting manager that operates nationwide with limits of up to $5 million. Target classes are mental health centers, alcohol/drug rehabilitation centers, associations for retarded citizens, counseling services, family services, group homes, homeless shelters, hospices, methadone programs, sheltered workshops, and social services agencies. Can offer CGL, property and D&O.
NY office
Contact: David Vicari
Phone: (800) 892-8892
Fax: (516) 365-9566
E-mail: dvicari@nifgroup.com
GA office
103 Bombay Ln.
Roswell, GA 30076
Contact: Deborah Christiansen
Phone: (866) 569-5532
Fax: (770) 569-7568
E-mail: dchristiansen@nifgroup.com
PA office
One Belmont Ave., Ste. 318
Bala Cynwyd, PA 19004
Contact: Ed McGuire
Phone: (800) 660-3467
Fax: (610) 660-0205
E-mail: emcguire@nifgroup.com
An E&S broker/specialty intermediary operating in all states (admitted) plus the Eastern U.S. (nonadmitted) with limits of up to $100 million (varies by class). Can offer D&O, EPLI (combined or stand-alone). All carriers are rated A or better.
An MGA that operates nationwide with limits of $5 million. Target class is mortgage banks and brokers. Can offer fidelity and mortgagees E&O. Lloyd’s is the A- carrier.
An MGA/E&S broker that operates in all states except NY and WI with limits of up to $10 million. Target classes are physicians, surgeons, clinics, hospitals, and allied health care. Can offer professional liability (med mal). Carriers are rated A or better on both E&S and admitted (also available alternative markets in select states).
A wholesaler/E&S broker that operates in TX only with limits of up to $20 million depending on the carrier. Target class is lawyers professional liability. Will not write physicians and surgeons malpractice. Can offer professional liability, EPLI, and D&O. The A rated or better carriers include St. Paul Travelers, Westport, CNA, Medmarc, and Chubb Executive Risk.
An insurer operating in all states except LA (lawyers not available in CA and NJ) with limits of up to $10 million. Target classes are consultants, third-party administrators (less than $3 million in revenues), tax preparers, computer consultants, lawyers, and accountants. Will not write architects/engineers, real estate, educators, insurance agents and title agents. Can offer BOP in conjunction with the professional liability insurance. Philadelphia Indemnity is rated A+.
An insurer (Prime)/MGA (IEBS) that operates in all states with all limits. Will consider all classes. Prime is rated B- and Lloyd’s is rated in the A range.
An E&S broker that operates in CT, DE, NJ, NY and PA with limits of $1 million-$5 million. Target classes are physicians, surgeons, attorneys, engineers, architects, accountants and most miscellaneous classes. Can offer GL and excess professional. Carriers are Evanston, Tudor and General Star.
An MGA/wholesale broker that operates in all states with limits of $100 million. Target classes are architects/engineers, design/build contractors, and environmental consultants. Various carriers writing E&O are used to place coverage.
A national program administrator operating nationwide with the following limits: EPL, up to $10 million; E&O, up to $3 million; lawyers professional, $100,000/$300,000 to $4 million/$8 million; trade name restoration, various options. Any class or professional occupation is considered. Can also offer miscellaneous E&O, business interruption. The A- rated carriers are Lloyd’s of London for all product lines except LPL (admitted product), which is handled by
Service Lloyd’s.
An insurer that operates in all states except KS, NH, NY and RI with limits of up to $1 million/$3 million. Target class is any physician, surgeon, podiatrist, dentist unable to obtain coverage in the standard markets. Professional Underwriters is a B++ rated company.
An MGA/E&S broker that operates in CA only with limits of $10 million. Will consider all classes. All carriers are rated A or better.
An MGA/underwriting manager that operates in all states with limits of up to $5 million in-house, more facultative. Target class is all design- and construction-related professional liability. Can offer only PL. Great American is the A rated carrier.
An MGA/E&S broker that operates in IA, MN, ND, SD and WI with limits of $3 million. Target classes are employment practices, architects/engineers, nonprofit D&O, and computer consultants. Can offer GL. Carriers USLI and United National are rated A+; Evanston and Fireman’s Fund are A rated companies.
An MGA that operates in IL and IN only with limits of $1 million (excess limits available on many classes). Target markets are counselors, day care centers, health clubs (professional), E&O for consultants, computer programmers, appraisers, travel agents, and title agents/abstractors. Can offer property, commercial auto, EPLI, GL, umbrella, and inland marine. The A rated carriers are Scottsdale, Tudor, Evanston, Essex, and Gulf.
An MGA/wholesaler (admitted and nonadmitted) that operates in NJ, NY and PA with limits of up to $20 million, depending on class. Target classes (specialist in D&O) are financial institutions, insurance agents, environmental, lawyers, accountants and other miscellaneous classes. Can offer EPLI, fiduciary liability, and e-commerce. Has in-house and brokerage access to most leading markets.
An E&S broker that operates nationwide with various limits of up to $100 million. Target classes are physicians, lawyers, and miscellaneous. Can offer D&O and EPLI. All carriers are rated A- or better.
A program administrator that offers limits that vary by program. Target classes are home health care/medical equipment providers, social services (national), medical facilities (national), community hospitals (CO, IA, IL, IN, LA, MI and MO only), specialty workers comp (national), and metalworking and plastics products manufacturers/distributors (national). Will not consider doctors’ offices, nursing homes, assisted living facilities and retirement homes for SBT’s national insurance program. All carriers are rated A or better. Also offers captive and other alternative markets.
An E&S broker operating in AL, FL, GA, NC and SC with limits of $5 million. Target classes are insurance agents, architects/engineers, lawyers, miscellaneous medical, IT risks, and media risks. Can offer D&O and EPLI. All carriers are A rated.
An MGA that operates in Canada only with limits of $5 million. Target classes are leisure, sports special events, festivals, adventure tourism, and fitness. Will not consider risks not related to leisure or rentals. Can offer accident, D&O and property. Lloyd’s, Sovereign, ING and Wellington are the carriers.
An E&S broker that operates in all states with unlimited limits, depending on the risk. Will consider all classes. Can offer D&O. All carriers are rated A- or better.
A managing general underwriter that operates in all states with limits that vary by program. Target classes are staffing/recruitment firms, management consultants, IT professionals, lawyers, home inspectors, architects/engineers, real estate firms, and miscellaneous E&O. Will not write medical. Can offer EPLI and package policy for staffing firms. All carriers are rated A or better.
An E&S broker operating in all states with various limits. Will consider all classes. Can offer E&O, D&O, EPLI, and med mal. All carriers are rated A- and better.
An agency that operates in all states with limits of $20 million plus. Target markets are fidelity bonds and E&O. Can offer investment advisors, mutual funds, and securities brokers. All carriers are rated A- or better.
An MGA that operates nationwide with limits of $100,000/$300,000, $500,000/$1,500,000, $1 million/$3 million. Target classes are assisted living/independent living facilities, mental health facilities, and developmentally disabled facilities. Will not write skilled or intermediate care. Can offer property, crime, inland marine, auto, EDP, or equipment breakdown. Glencoe Group is the A rated carrier.
An intermediary/MGA that operates in Canada with various limits. Target classes are miscellaneous E&O, architects/engineers and medical malpractice. Financial-related classes are not written.
An MGA operating in all states with limits of $2 million. Target classes are home inspectors, real estate agents, insurance agents, and consultants. Will not consider doctors or attorneys. Can offer EPLI. Uses underwriters at Lloyd’s, rated A-.
A wholesale broker that operates in IL, IN, KY, OH and TN with limits of $5 million. Target classes are EPLI, D&O, miscellaneous professional, medical, nursing homes, and assisted care. Can offer property and GL. Various carriers are used to place coverage.
An insurer that operates in all states except NH and VT with limits of $1 million. Will consider most classes.
An underwriting manager operating in all states with limits up to $25 million, depending on the program. Will not consider medical professionals, lawyers, or accountants. Can offer D&O, CPL or P-C coverage, depending on the program. The A- rated or better carriers are Chubb, CNA Surety, Indiana Harbor, CNA, and Gulf.
An MGA that operates in all states with limits of $15 million. Target classes are newspapers, TV and radio stations, TV and film producers. Chubb is the carrier.
An insurer that operates in all states with GL limits of $1 million/$2 million. Target market is smaller/lighter risks. Can offer GL and property. Western World and Tudor are rated A+.
An MGA/E&S broker that operates in CA only with various limits. Target classes are EPLI, nonprofit D&O, real estate, mortgagee brokers, architect, tenant discrimination, and miscellaneous medical physicians/surgeons. Will not write geotechnical and structural engineers. Can offer GL. All admitted and nonadmitted carriers are A rated companies. *