Professional Underwriting Group, Inc. Provides Insolvency Carve Back for Producers of Demotech Rated Carriers
Columbus, Ohio, February 22, 2012: Professional Underwriting Group, Inc. (PUG) and Demotech, Inc. are pleased to announce that insurers earning a Financial Stability Rating® (FSR) of A or better from Demotech are eligible for reasonably priced, comprehensive insurance agents & brokers professional liability insurance (E&O) that includes coverage for insolvency to the producer when the market is rated A or better by Demotech, Inc. According to Jay Martin, President, PUG, with a carve back available for carriers rated A or better by Demotech, agents or brokers are no longer held hostage by arbitrary provisions in their current E&O carrier’s policy.
According to Demotech’s President, Joseph Petrelli, although this carve back of E&O coverage is based upon Demotech’s exceptional record identifying carriers that possess the ability to sustain long-term financial stability, the carve back is also recognition that the independent agency system needs and deserves unfettered access to financially stable markets that can assist the producers’ clients.
Petrelli says “In a competitive marketplace, with consumers focused on obtaining value from their purchases of insurance, producers deserve the support of their E&O carrier, not another hurdle to overcome. Jay Martin, Professional Underwriting Group, Inc. and their preferred E & O admitted market recognize this and, after reviewing our track record, have responded with a carve back for the producers licensed by the fine carriers rated A or better by Demotech.”
About Professional Underwriting Group, Inc.
Professional Underwriting Group, Inc., based in Delray Beach, FL, is a premier provider of professional liability insurance solutions. The principals of PUG have nearly a century of experience developing responsive, professional liability solutions offered by well-respected, financially strong markets.
To obtain a quote, agents and producers can download an application or submit a quick quote request to www.professionalunderwritinggroup.com or call 1 800 281 4234 to speak to an underwriter.
About Demotech, Inc.
Founded in 1985, Demotech is a Columbus, Ohio based financial analysis firm that provides services to P/C insurance companies, Title underwriters and other specialty insurance markets. FSRs of A or better are accepted by virtually all mortgage lenders, an increasing number of umbrella insurance markets, several writers of insurance agents errors and omissions insurance as well as other professionals knowledgeable about the financial stability of insurers. Visit www.demotech.com for additional information.
For additional information on Demotech, please contact Irisa Wasson at 800-354-7207, or by email to firstname.lastname@example.org.
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