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...ulnerability Standard vs. Excess and Surplus Lines Markets Exp... that served alcohol and the Liquor Liability and General Liability had total exclusions on assault ...

... by CompleteMarkets Editor , Ken Buehler This content has not been rated yet. The market has changed significantly. Business as usual won't suffice. Doing a thorough and professional job for your clients and your carriers is the best way to protect all parties and sets your agency apart as a professional and ethical entity. Ken Buehler examines the added strains that current market conditions have placed on agencies. Moving from a soft to a hard market can make placing business and arranging reasonable pricing very challenging for an agency. A hard market brings a ... . Agencies must take the due diligence' process in their client relationships to a higher level. Let's look at three areas in detail, together with the problems inherent in each. Carrier solvency issues, including financial impairment and the resulting limitation and vulnerability Standard vs. Excess and Surplus Lines Markets Expiring vs. Renewal Coverage CARRIER SOLVENCY Carrier solvency issues are a major problem. We've gone through a long period of soft market conditions, with little attention paid to the fact that insurance is an underwriting business, not an investment business. ... S side, when you get a proposal from the broker, review the limitations and exclusions carefully. Be sure you understand them so that you can go through them with the client. For example, if you were writing a risk that served alcohol and the Liquor Liability and General Liability had total exclusions on assault and battery, be sure you explain this to the insured. It's best to have the E&S broker provide a copy of the exclusion endorsement so that you can go over it with the insured. We've seen ...

...e disallowed by the amount of the excess claimed. Worse yet, an excise tax can...division. Any customer with sales in excess of 5% of gross sales. d. Main supp...

...yable pursuant to section 2(b) in excess of the fixed consideration of $1,000,...olicy No. LP7106067, with limits of liability of not less than $2.5 million pe...