May 2018 Bar Bulletin
By Daniel Dugan
Below is a paragraph out of a cover letter I was sent by my insurance broker regarding the renewal of my professional liability insurance:
With your agreement to the use of a Wholesale Broker in the placement of your coverage CRC is a Wholesale Broker and will be involved in the marketing and placement of your coverage. CRC may approach carriers that are not admitted carriers in your State. A non-admitted carrier is subject to limited state financial solvency regulations and does not participate in the State’s insurance guaranty funds, which otherwise provide limited claims reimbursement for policyholders of insolvent insurers. Therefore,...