My E+O policy was expiring at the end of May. At the end of last year I started getting emails from various companies telling me that E&O prices were dropping. Great I thought, its about time I got a break in expenses especially since I not had any claims since I started in this business in 2002. In March, I called my broker Coral Point
Insurance Services
Coral Point Insurance sucks and requested a quote for the coming year. They said they would get back to me. Two weeks later after no news I called back. They said they would check on it. A week later I called again and they told me that they couldn't get a quote from the Lexington insurance company because it was too soon. I explained that if I could call any other insurance company and get a quote that I should be able to get a quote from a company I already had a relationship with. Coral Point agreed and said they would put another request in. Fast forward to May 1st. I call Coral Point again and ask why I haven't seen a quote yet, aren't they interested in me as a customer? Two days later I get a call saying I will have a quote by the 5th. I explain to Coral that I feel like I am being screwed because I won't have time to line up a new policy. They apologize and tell me it will be fine. I resolve to find a new company. On Tuesday I get a fax from Coral Point new premium $4205 for $500K/$1,000K ($2,500 deduct) up from $2665 for same coverage. And this is with no claims!!!
Moral of the story if you feel like you are about to be bent over a log and reamed, you probably are.
I now have a new policy line up and will tell Coral Point and Lexington where they can stick their policy.
//Rick
