There’s really no such thing as “apples to apples” in the world of professional liability coverages.
I have often cautioned my agents about the unfavorable (from the insured’s and broker’s perspective) broadness of an “arising from” exclusion preamble. There are many exclusions for which this wording is unavoidable, but the impact is horrendous. In the case of insureds that have an incidental or vicarious exposure to bodily injury/property damage claims, unauthorized […]
Insolvency exclusion in wholesaler/MGU policy goes too far. Excludes claims arising from agent’s inability to pay. Jeopardizes policyholder in the case of any cancellations for non-payment.