I think it should be know that tower hill has over 400 employees. They have been around for close to 40 years and have survived storms such as Andrew and the havoc that the 2004/2005 seasons brought to the state. There are here alive and well, and arent running away like many companies before them and those who cant take the wind in the future. This agent will be selling Tower till the cows come home.
Are you out of your mind? Have you ever read a contract from some of these non-admitted carriers? Some of the exclusions and special provisions are enough to boggle the mind.
As far as E&O goes, that’s a disaster of a whole other nature. There are some E&O carriers who don’t mind what carriers you represent. Many of those carriers exclude carrier solvency.
What exclusions are you talking about? I know there are some sinkhole limitations, but what else are you talking about? I have read the contract and it looks pretty good (and standard) to me.
I write Geovera as well as THIG. The first unusual limitation which comes to mind is the “roof coverage limitation” of $5,000 which applies if more than one layer of roofing over-layment exists. I am sure there are others but I don’t have the policy form handy.
THIG, is fine. Which rating is better? A “D” from A.M. Best or an “A” from Demotech for a carrier that couln’t even get a return phone call from A.M Best.
This whole thing is making me nervous about Tower Hill. Are they really making the financial sacrifice for reinsurance so that they can pay claims should we get hit with a storm as part of good service; or are they just financially strapped. Poe had a lot of good arguments on their financial stability before they went under.
Tower Hill is a great organization. Hopefully they will weather this storm. (Pun intended)
The $5,000 roof limitation is also one of the GeoVera limitations I was thinking of. If you think it’s a standard contract I would hate to be your E&O carrier.
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I think it should be know that tower hill has over 400 employees. They have been around for close to 40 years and have survived storms such as Andrew and the havoc that the 2004/2005 seasons brought to the state. There are here alive and well, and arent running away like many companies before them and those who cant take the wind in the future. This agent will be selling Tower till the cows come home.
Are you out of your mind? Have you ever read a contract from some of these non-admitted carriers? Some of the exclusions and special provisions are enough to boggle the mind.
As far as E&O goes, that’s a disaster of a whole other nature. There are some E&O carriers who don’t mind what carriers you represent. Many of those carriers exclude carrier solvency.
Right on, Mr Solvent! I agree completely. Writing this non-admitted home business is risky!
THIG may have made the right move provided the reinsurance carrier is a strong reinsurer.
What exclusions are you talking about? I know there are some sinkhole limitations, but what else are you talking about? I have read the contract and it looks pretty good (and standard) to me.
I write Geovera as well as THIG. The first unusual limitation which comes to mind is the “roof coverage limitation” of $5,000 which applies if more than one layer of roofing over-layment exists. I am sure there are others but I don’t have the policy form handy.
THIG, is fine. Which rating is better? A “D” from A.M. Best or an “A” from Demotech for a carrier that couln’t even get a return phone call from A.M Best.
This whole thing is making me nervous about Tower Hill. Are they really making the financial sacrifice for reinsurance so that they can pay claims should we get hit with a storm as part of good service; or are they just financially strapped. Poe had a lot of good arguments on their financial stability before they went under.
Tower Hill is a great organization. Hopefully they will weather this storm. (Pun intended)
Is Royal Palm part of Tower Hill?
Are they affected?
The $5,000 roof limitation is also one of the GeoVera limitations I was thinking of. If you think it’s a standard contract I would hate to be your E&O carrier.