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Unlike traditional brokers, we use data to help drive our client's decisions... read more

We consider our client's risk transfer options from all angles, making the process easy and efficient... read more

We've employed techniques from a variety of industries to bring our clients an unobstructed view of risk transfer options that is not available elsewhere... read more

Companies can be in business for decades or for sale tomorrow. Their strategy should adapt as their path changes... read more

Running a business means making decisions with limited capital. We fit risk transfer decisions into a company's financial framework... read more

We understand that our clients want a partner who will treat their company like our own... read more

Why You Should Worry if Your Insurer Fails

A CFO Magazine article this month perpetuates a widely held belief – if your insurance company fails the state will bail you out. In many cases, especially for our professional liability clients, this is not true.

1) The Limits are Not Enough
State Guarantee Funds generally provide $300k-$500k of coverage for claims made under policies of insolvent carriers and a small (generally $10,000) return premium if the carrier fails mid-policy term. This works for homeowners and small businesses, but not for large or specialty insurance policies.

2) Not Everyone Has Access to State Funds
In many cases the Guarantee Funds are not available to begin with. Many professional liability insureds have “non-admitted” coverage which is not insured by these state funds. In the event that a non-admitted insurance company goes under, the policy holders are without a back-stop.

3) Firms May be Assessed for Past Policies
Large or sophisticated companies may find insurance through Captives, Risk Retention Groups or other pooling programs not regulated by the states. If one of these entities lacks adequate capital, they have the right to assess insureds retroactively if the pooling company fails, magnifying the risk.

Contact Calculated Risk Advisors today to discuss the financial protection your insurance policy is providing. Carrier solvency is an important factor when buying an insurance policy that many insureds ignore.

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