An IIABNY member emailed me last week about a quote she had received from a wholesale broker for a Businessowners Policy (BOP). The quote was from a surplus lines carrier that is a member of a large, nationally known insurance group. I will leave the names of the carrier, wholesaler and retail agency anonymous.
The BOP is intended for a transportation company. By definition, the predominant risk for a company like that is in the automobile line of coverage; the property and liability coverages, while still important, tend to be an afterthought. The member had concerns about a prototype endorsement that was included in the quote, and she wanted my thoughts on it.