PACO Ins agents E&O

[Rob]

Well my dilemma is taking this admitted policy which doesn't contain an absolute insolvency exclusion or James River or Lexington which are non-admitted and have the exclusion (and cost more).

[Rob]

PACO is owned by PICA. This is from its website:
Podiatric physicians are an integral part of PICA. Our Board of Directors features 11 of 14 members who are practicing podiatric physicians, and the Underwriting, Claims and Risk Management Committees of the Board are comprised of podiatrists. In fact, podiatrists are actively involved in every aspect of the company, and we are known for the quality experts and attorneys who handle claims for our policyholders.

Buying from PACO means that you are relying on Podiatrists to handle your E&O. You wouldn't go to your dermatologist to get your homeowners insurance. Why would you go to your podiatrist to get your E&O?

Well, I can't argue with that logic, that makes sense.

[NYUND]

There are other carriers that will write your E&O. How big is your agency? (Revenues for 2006)

[Rob]

PACO is owned by PICA. This is from its website:
Podiatric physicians are an integral part of PICA. Our Board of Directors features 11 of 14 members who are practicing podiatric physicians, and the Underwriting, Claims and Risk Management Committees of the Board are comprised of podiatrists. In fact, podiatrists are actively involved in every aspect of the company, and we are known for the quality experts and attorneys who handle claims for our policyholders.

Buying from PACO means that you are relying on Podiatrists to handle your E&O. You wouldn't go to your dermatologist to get your homeowners insurance. Why would you go to your podiatrist to get your E&O?

Although we really don't have enough info to conclude that they don't know what they are doing. Perhaps the committee hired experienced insurance underwriters and adjusters for that part of the program. Its not the guys on the committe that are handling claims and underwriting.

[NYUND]

Could be but I would rather be with a stronger company with more experience on a line then with a company that may or my not know what they are doing?

A new doctor may be very good but if I was having heart surgery I would want a surgeon with experience doing the operation.