https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/2457/E-O-And-The-Hard-Market/
... frequency and/or severity of E&O claims during the hard market. Here are some of the issues you might want to address: COVERAGE REDUCTIONS AND CARRIER CHANGES Coverage reductions required by carriers. Often, to keep a premium at competitive levels or (more likely) to limit loss exposures, an insurer might suggest coverage or limit reductions. Be wary of such new exclusions as terrorism and mold. It's critical to advise your insured of any coverage reductions before renewal. The same holds true if the carrier will only renew at lower limits and/or increased deductible amounts. Recently, an agent quoted a $90,000 premium for a $5 million Commercial Umbrella policy. The expiring Umbrella's limit was $25 million at a premium of $69,000 — 80% less ... E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back E&O And The Hard Market 5/24/2013 12:00:00 AM by CompleteMarkets Editor , Bill Wilson This content has not been rated yet. In a hard market, E&O claims have a tendency to rise in both frequency and severity due to increased workloads, reduced coverages, and other factors. This document by Bill Wilson focuses on some special E&O considerations that merit attention in a hard market. Although the focus in a hard market is often on retaining a book of business, it's just as important to focus on book profitability. Although you don't want to lose a single account, let's face it: there are some accounts you're better off leaving ...
https://completemarkets.com/Article/article-post/238/The-Hard-Market-An-E-O-Perspective/
...uirements (asbestos, pollution and mold), unfavorable legislation, a hostile l...ling the agent that they needed the coverage and the file wasn’t documented.
T...
https://completemarkets.com/Article/article-post/2457/E-O-And-The-Hard-Market/
...ch new exclusions as terrorism and mold. It’s critical to advise your insured ...rket.
Documentation. When there are coverage reductions, lower limits, and hig...
https://completemarkets.com/Article/article-post/1098/HARD-MARKET-SHENANIGANS/
...ombined with insurer concerns over mold and other issues) has a tendency to br... 120% of your policy’s stated coverage amount.' Sounds familiar, doesn&...
https://completemarkets.com/company/scurich-insurance-services/Articles/content-package/Member-Content/TabCategory/tag/coverage-perks/
... at about seven year intervals. However, the last significant hard market came in the mid-80s. A hard market is characterized by increasing rates and/or reduced industry capacity, which leads to affordability and/or availability problems. In addition, both underwriting and claims adjusting usually become more stringent. In the current marketplace, these conditions are exacerbated by increased uncertainty about such loss exposures as terrorism, mold, etc., and by a reinsurance market significantly strained by the events of September 11. All Articles by CompleteMarkets Editor Comments (0 ) x No Thanks Loading.. Loading.. x No Thanks Loading.. ...
https://completemarkets.com/Article/article-post/2108/BOOST-YOUR-COMMITMENT-TO-E-O-PREVENTION/
...ness and/or adding new exclusions. Mold, a risk that had barely found its way ...ombination of new exclusions (such as mold, terrorism, and cyber-risks) with a...
https://completemarkets.com/Article/article-post/1011/COMBINING-INSURANCE-AND-FINANCIAL-SERVICES-REALITY-CHECK/
...siness simply didn’t fit the mold that Citigroup wanted as part of its o...e agency can’t write his Auto coverage even though his 16-year-old son h...
https://completemarkets.com/Article/article-post/2562/14-TIPS-FOR-SELLING-IN-A-HARD-MARKET/
... such loss exposures as terrorism, mold, etc., and by a reinsurance market sig...nd the call of duty when needed, no coverage perks or pricing discounts can ap...
https://completemarkets.com/Article/article-post/1161/INDIVIDUALIZED-INSURANCE/
...rements. In other words: We don't mold your company to fit the insurance ...to fit your company. You have sound coverage and the confidence of knowing tha...
https://completemarkets.com/Article/article-post/369/How-To-Lose-Market-Share-To-The-Competition/
...ve by forcing clients to fit their mold, as opposed to striving to adapt to th...