Dangling a Carrot I.e Extra E&O Policy in Order to Get a Policy.

[pinfamy]

Ok, I have a business policy holder and have a questionable practice question that


I am in Florida where it is extremely difficult to get wind with a rated carrier. I tried for months and months after buying a new building. I got a Nationwide policy last year from an agent when 4 other agents of nationwide said no. The policy came with the unwritten caveat that I "need" an additional E&O "cyber policy" because we did a lot of online business in order for the underwriters at Nationwide to accept the risk.

Because this was the only option we had at the time we bought both policies and went about our business. Now that the renewal is up we're supposed to buy both policies and our agent is missing. We are being pushed by someone else at the company to renew the E&O.

I don't really want to buy the additional E&O policy and just want the nationwide policy. Is it possible to be dropped for not getting both, or do you think that this was just a ruse to sell me an additional policy?


Let me know if you need any additional information

 

[b61mack]

Re: Dangling a Carrot I.e Extra E&O Policy in Order to Get a Poli

shop it around again. if you are still have a problem getting coverage. renew the policys.. the agent probably found a loop hole to get you that coverage..

 

[djs]

Re: Dangling a Carrot I.e Extra E&O Policy in Order to Get a Poli

How much is the 'cyber policy'? I can't really help at all, since Florida is so much different than California, but I am curious as to why you would need an E&O policy in regards to wind...

The real question is, does the policy actually cover wind? If it does and the E&O policy isn't expensive, why not just go ahead and renew it? Why take the chance?

Dan