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Personal Non-Admitted
Insurance companies that are non-admitted are not licensed in the individual states, but are allowed to transact business in the various states because they fill needs that cannot be handled by the state's admitted markets. Although each state regulates the placement of business in these markets to some extent (e.g. financial security, service of suit, etc.), their rates and forms are not regulated by the states, which allows them to charge rates and apply special conditions according to the risk exposure. This flexibility allows non-admitted insurance companies to take on higher risk applicants who have greater loss potential. We specialize in hard-to-place personal lines risks.
MARKET OVERVIEW
●Coverage Parameters
- Small to high value dwellings (starting at $150,000)
- HO 3-4-6
- Condotels with $1,000,000 in liability
- DP-3
- Owner and Tenant Occupied, secondary, secondary seasonal, Trusts, Estates, LLCs, Partnerships
- Personal Article Floaters
- COC/ Builders Risk
- Excess Flood
- Cobra Primary Flood (submit basis)
- Coastal and Other Cat exposures
- Umbrella, CPL and Excess
- Personal Automobile Physical Damage (Primary or Excess Coverage) - in all states, excluding Illinois and Kentucky
- Fine Art Collections
●Insurer(s)
Listing of A Rated Carriers Available upon request.
●Commission Schedule
- The standard commission to agents is 10% on practically all risks bound with MarketScout Private Client Solutions (E&S).
- Open market quotes tend to offer smaller gross commissions, which are split with the agent based on a mutual agreement with the underwriter.
●Application Requirements
- Quotes can be requested with no appointment, but MarketScout will require an appointment to bind.
- There is no volume commitment with MarketScout.
- We will look at any personal lines risk based on the parameters above that do not fit standard markets.
●Applications
| Title | View/Download |
|---|---|
| Older Home Questionnaire.pdf | Older Home Questionnaire.pdf |
| Unprotected Questionnaire.pdf | Unprotected Questionnaire.pdf |
| Log Home Questionnaire.doc | Log Home Questionnaire.doc |
| Heating/ Wood Stove Supplemental Questionnaire.doc | Heating/ Wood Stove Supplemental Questionnaire.doc |
| Lexington Homeowner Application | Lexington Homeowner Application |
| Trust Questionnaire | Trust Questionnaire |
| Corporate Questionnaire | Corporate Questionnaire |
| Excess Flood Application | Excess Flood Application |
| Personal Inland Marine (PAF) Application | Personal Inland Marine (PAF) Application |
| Admitted Package Submission Questionnaire | Admitted Package Submission Questionnaire |
| Wine Application | Wine Application |
| Museum Collection | Museum Collection |
| Exhibition Application | Exhibition Application |
| Dealer Application | Dealer Application |
| Commercial Artist Application | Commercial Artist Application |
| Fine Art Application | Fine Art Application |
FAQs
1Do you compete with admitted carriers?
If you are holding an admitted market quote, we feel it is best you place coverage with that market.
2Do you write wind in Florida?
Yes, we write through our various markets. In the Tri-County area (Dade, Broward, Palm Beach) and the rest of the state. We will need a fully completed homeowners application (preferably the one on our website under the Applications tab as we use it for all our markets) and a wind mitigation inspection report. Outside of the Tri-County, a wind mitigation inspection report is not always necessary.
3Do you write in other Catastrophic Areas?
Yes, we write nationwide and we like catastrophically exposed risks.
4Do you write LLCs, partnerships, trusts?
In most instances we write all types of ownership. All we need to consider the risk is a fully completed homeowners application and a corporate questionnaire, which can be found our website under the Applications tab.
5Do you write builders risks?
Yes, from ground-up projects to existing structures (those that have already been started). We will need a fully completed homeowners application (preferably the one on our website under the Applications tab as we use it for all our markets) and a builders risk supplement.
6What if the owner is acting as his own general contractor?
We have access to markets that will write these risks.
7Do you write primary flood coverage or excess flood coverage?
We do not normally write primary flood coverage, but at times we can offer primary flood coverage in COBRA Zones, but this is done on a case by case basis. As for excess flood, yes we will write it. We will need the underlying flood Dec, an elevation certificate and an excess flood application.
8Do you obtain quotes from all available markets?
We model risks in all our carriers and offer the agent the best terms available. At times, when quotes are close in terms and pricing, we will release multiple terms.
9How quickly can I expect a quote?
If the information is complete, our turnaround time is same day to 24 hours, but the application must be complete with update information (year and type) and if there are any losses, please provide a description of these losses and what has been done to remediate them and possibly prevent any re-occurence.
10Are standard percentages used on the application in regards to Coverages A, B, C, D?
The insured pays for every single dollar of coverage in the E&S market. Coverages A and B have to be insured to 100% of their replacement cost. As a note, the insured may elect to not have any coverage for Coverage B. As for Coverage C, bear in mind that it will be rare that an insured needs 70% in contents in the afforded living area, every dollar counts. Also, any content that should be scheduled is not to be included in the contents limtis. Coverage D is not unlimited and most E&S markets will allow up to 20% of Coverage A, but again, is this a second or third residence for the insured, does he or she really need this limit as every dollar counts.