Hi all. I am having trouble placing a BOP. My client has been in business for ten years and does some software developing and "wholesaling of the software" to individuals in research at several universities worldwide. He runs the operation from his office and is producing DNA sequencing software. I have called all of my companies and they want to stay away from the risk.
Any suggestions?
Hard to place BOP
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Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
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- Insurance Journal Addict
- Posts: 33
- Joined: Fri Nov 21, 2008 4:20 pm
Re: Hard to place BOP
Chubb, St. Paul and Harford all entertain technology risks. They probably will not write it on a BOP form, but they do write this type of risk. They utilize their own package policy form with certain enhancements geared towards this type of risk.
Re: Hard to place BOP
Big Dog hit the markets. Add Seneca as well. These markets will provide Package policies including E&O. You can also try a wholesaler for a stand alone E&O policy.
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- Insurance Journal Addict
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- Joined: Thu Nov 01, 2007 8:25 pm
- Location: SFO
Re: Hard to place BOP
How large is your risk? Zurich has coverage for middle market technology and they will even write the Prof'l.
Good Luck!
Good Luck!
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- Insurance Journal Addict
- Posts: 33
- Joined: Fri Nov 21, 2008 4:20 pm
Re: Hard to place BOP
Thank you. Advice was good. It is a small market risk. A lot of my carriers were staying away from it. Travelers will take the risk. I am also doing an E&O so the premium ends up being decent for the risk.
Re: Hard to place BOP
Hartford should take it as well. They probably will not BOP it since it's life science related but should be willing to write package. Hartford will probably not do the E&O.
Kevin Rasmussen AU, CIC
Re: Hard to place BOP
If all else fails, try the Surpluss world. Premium will not be friendly, but the the commissions will.