I love it. I got a letter to the editor! Over
the years I have gotten a few. One time it was from a carrier's
regional manager who objected to my article about "them"
In fact it was about another Company but I guess the shoe
fit .The most recent letter was in response to my comment
about filling out affidavits for the E&S markets . I questioned
how one could fill one out for excess flood. The WYO companies
write flood but only to the approved limits.
The writer, a well respected local agent pointed out that
excess flood is one of the NY Ins Dept exceptions.and no affidavit
is required. While trying to verify this I placed two excess
policies with two large area wholesalers. Both insisted on
affidavits. Assuming that my letter writing agent was knowlegeable
and certain of his facts or he wouldn't write me for a retraction,
I decided to experiment. I sent off the request for coverage
to the wholesaler without the required affidavit. They wrote
back No affidavit,no binder!
I wrote to the wholesaler saying what about the NY Ins Dept
exception? I got an answer that you all might find of interest.
They said " We DO need the Affidavit, however, we do
NOT need the declining carrier info for excess flood since
it is exportable. We need all the info for sections 1 - 4
and the affirmation at the end.”
I tried to find the “list” of exceptions on the
NY Ins Dept website. After a few calls and several transfers
I was told the list was on the ELANY website..I copy the list
below for your edification
I was going to print a retraction but I hope instead some
of you find this enlightening
(g) (1) Pursuant to the provisions of Section 2118 (b) (4)
of the Insurance Law, the superintendent has determined that
excess line brokers shall not be required to comply with the
provisions of subdivisions (a) (b) and (c) of this section
with regard to the placement of any of the following coverages:
Coverage Amusement Parks and Carnivals Property and/or liability
coverage for the owners/operators of amusement parks, theme
parks, and carnivals.
Amusement Rides and Devices Property and/or liability coverage
for the owners/operators of amusement rides and devices including
bumper cars, go-carts and go-cart tracks, giant slides, skateboard
tracks, roller-blade tracks, etc.
Animal Mortality
Coverage against the death of any domesticated or wild animal
from any cause.
Armored Car, Couriers or Check Cashing Operations Crime coverage
for armored car services, couriers transporting valuable documents
and securities, and check cashing operations.
Auto Racing and Automobile Race Track Liability
Coverage for claims of spectators, participants or other third
parties in connection with the operation of an automobile
race track or drag strip, or the staging or conduct of an
automobile race.
Automobile Personal Injury Protection (PIP) Excess of $150,000
First party, New York No-Fault PIP benefits, excess of $150,000.
Blood Banks; Blood and Organ Facilities Liability
Liability coverage for facilities that primarily deal with
the collection, storage and distribution of blood, blood products
and human organs.
Boats and Yachts
1. High Speed Boats- Property and liability coverage for the
owners and operators of boats capable of attaining speeds
in excess of 40 miles per hour; or
2. Boat Rentals- Property and liability coverage for the owners
and operators of boats rental facilities.
Environmental Impairment/Pollution Liability
Liability coverage and/or pollution clean-up expense coverage
for the following:
Asbestos Abatement Contractors
General Pollution Liability
Environmental Impairment
Lead Abatement Contractors
Hazardous Waste Disposal Sites
Hazardous Waste Haulers and Shippers
Hazardous Waste Site Mitigation Contractors
Radon-Mitigation Contractors
Radon Testing Firms
Underground Storage Tanks – Marketers
Underground Storage Tanks – Non-Marketers
Explosives, Munitions or Fireworks – Manufacturing or
Display liability coverage for the manufacturer of explosives,
munitions or fireworks and Property and/or firms which produce
fireworks displays and exhibitions.
Fine Arts Dealers
All-risk or named perils coverage for property held for sale
by fine arts dealers.
Flood Insurance
1. Flood Insurance Excess of Maximum Limits available from the
Federal Flood Program; or
2. Primary Coverage on Property not eligible for Federal Flood
Program.
Golf Driving Range Liability
Personal injury or property damage liability coverage associated
with the operation of a driving range. e.g. flying golf balls,
improperly wielded golf clubs. etc.
Horseback Riding Establishments
Coverage for riding academies and pony rides.
House Movers and Building Demolition Contractors
Coverage for liability arising out of the moving of a house
or the demolition of a building. For example, injury caused
by falling brick, flying debris, etc., and structural or other
damage to a house being moved.
Lead Liability Insurance
Coverage for personal injury resulting from the ingestion or
inhalation of lead or lead dust.
Liquor Law Liability Coverage
Monoline liquor law liability coverage for taverns and restaurants
only where liquor sales exceed 75% of total sales revenue.
Product Liability Insurance
Product Liability Coverage for the following classes of risk
only:
Aircraft Parts Manufacturers
Automobile-Parts Manufacturers
Bioengineered Products
Farm Equipment Parts Manufacturers
Firearms Manufacturers
Helmet Manufacturers
Pharmaceutical Products Manufacturers.
Product Recapture or Recall Insurance
Coverage for damages associated with the withdrawal, inspection,
repair, replacement or loss of use of the insured’s products
or work, if such products, work or property are withdrawn from
the market or use due to known or suspected defect or deficiency.
Recreational Guide Services
Coverage for outfitters and guides for camping, hiking, rafting
and similar recreational activities.
Security Guards – Armed and/or Using Dogs
Professional liability coverage for security guard firms which
provide guards using firearms or dogs.
Skating Rinks
Liability coverage for injury to participants and spectators
in ice and roller skating rinks.
Ski Area Liability
Liability coverage for owners and operators of ski resorts,
ski lifts, ski equipment Sales and rental, ski lessons, ski
trail maintenance, snow-making operation, etc.
Tractor Pulls/Mud Bogs
Liability coverage for claims of spectators, participants or
other third parties in connection with the operation of organized
exhibitions, races or demonstrations primarily involving "Monster”
trucks, tractors and similar off-road vehicles.
Warehouseman’s Liability
Coverage for the liability of a warehouse owner and/or operator
for loss or damage to the lawful goods of others in their care,
custody or control.
Donald J Hester |
