The excess and surplus lines (E&S) insurance market for brokers is primarily governed by using diligent efforts to place the client with an admitted policy. The diligent search requirement is most often met by showing that the broker was unable to find the full amount of required insurance with an admitted policy.
In our experience, the coverages provided by Coalition are substantially different from what is available in the admitted market. Aside from showing other admitted price points, a broker may meet his or her diligent search requirements by showing that the admitted offering was not as robust as Coalition's surplus lines policy.
The non-admitted coverages that differentiate Coalition's policy from the admitted market vary by state, and often include:
Business interruption with no waiting period and only an 8 hour trigger;
Outside of limits breach services;
Voluntary notification to non-affected parties;
Full media coverage;
Full crisis management coverage (not just for security failure or data breach);
And the list goes on.
Additional endorsements such as computer replacement, service fraud, bodily injury and property damage, and betterment further brokers' ability to show that Coalition's policy is more expansive than what is offered in the admitted market.
If you have any questions, don't hesitate to contact us.
Note: Coalition makes no representations or warranties regarding the completeness, reliability, or accuracy of the reviews and does not assume any liability for any errors or omissions in the content. While Coalition endeavors to create the most accurate and complete review, the content is for informational purposes only and you should take steps necessary to ascertain that the information you receive is correct and verified by your own review. Any action you take upon the information contained herein is strictly at your own risk and Coalition will not be liable for any losses and damages in connection with the use.