DELRAY BEACH, Fla., Jan. 9, 2015 /PRNewswire/ -- Jay Martin, President, Professional Underwriting Group, Inc., announces the availability of an admitted program for insurance agent's errors and omission insurance. The coverage contains affirmative coverage related to carriers rated A or better by Demotech, Inc. The program is available to qualifying insurance agents in Alabama, Arizona, California, Colorado, Florida, Georgia, Minnesota, Nevada, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, and Wisconsin. Illinois, Louisiana and Texas are written on a surplus lines basis (soon to be admitted).
According to Jay Martin, President, Professional Underwriting Group, Inc., "the program offers some of the broadest coverage available to agents and agencies. The insuring agreements, definitions and conditions reflect the competitive nature of the marketplace for the professional agents that we will serve. Enhanced coverage for insolvency, such as the inclusion of carriers rated by Demotech as well as those of other rating services, provides agents with access to a larger number of markets than our competition. More markets for agents should result in competition for their business and hopefully higher commissions."
Demotech's President and Co-founder Joseph L. Petrelli states "Professional Underwriting Group, Inc. is familiar with us. They have analyzed Demotech's twenty-five year track record on insurer ratings and reviewed the survival rates. Equally important to professional insurance agents, Professional Underwriting Group, Inc. and its admitted market believe in expanding the number of markets available to independent agents, not restricting competition. I encourage all producers to contact Jay Martin or Ira Frankel at Professional Underwriting Group, Inc. if their current E&O carrier restricts your coverage based on an insurer's rating."
Professional Underwriting Group, Inc. based in Delray Beach, Florida is a premier provider of professional liability solutions. Innovators in the professional liability marketplace, Professional Underwriting Group, Inc. specializes in Insurance Agents Errors & Omissions on a regional and national basis. Professional Underwriting Group, Inc is the exclusive representative for The American Association of Insurance Professionals.
Demotech, Inc. is a financial analysis firm located in Columbus, Ohio. Since 1985, Demotech, Inc. has been serving the insurance industry by providing accurate and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurance companies and Title underwriters.
SOURCE Demotech, Inc.; Professional Underwriting Group, Inc.