| Programs

Agents and Brokers

Become part of Quadrant’s exclusive Agents & Brokers Professional Liability family where relationships are formed and partnerships are forged.

Since 1989 Quadrant has specialized in professional liability for insurance firms, also known as agents & brokers E&O. We consider ourselves underwriters and we strive to add value through our approach, knowledge and experience. Each firm is studied and assessed, regardless of its size. We look for insurance agents that are seeking a home for their professional liability, where all parties become part of our team of trusted partners. Some existing Quadrant professional liability client relationships have extended over 10 years.

Programs
Quadrant has two exclusive agents & brokers professional liability programs to reach different types and sizes of insurance firms. We never quote one of our programs against another, and instead match the risk with the strengths and appetites of our separate programs. We also have access to highly rated wholesale markets if your submission does not fit within our program offerings. Please contact us for more information about our Insurance Agents & Brokers Professional Liability Programs.

ProSLIP® with Arch Specialty—AM Best Rated A+

The ProSLIP® insurance program is the exclusive program of Quadrant Insurance Managers and is an uncommon offering in the professional liability market. It represents a commitment to quality through its client qualification standards, loss control program, tailored coverage, profitability, and longevity in the market. Few other professional liability programs for agents & brokers can meet our standards. Partnering with a stable, highly rated market has been one of the keys to the success and longevity of our program.

Stability—since 1995, ProSLIP has provided a superior option for insurance firms.
Quality—we are selective with the risks we will write. This means added security for our existing clients and for the stability of the program.
Loyalty—we build relationships based on mutual trust and respect that keeps our clients returning to ProSLIP.
Fairness—our rates are competitive and fair—to both our clients and markets. With each renewal, loyalty, trust and adherence to ProSLIP principles are recognized.

Coverages and Highlights

  • Insurance Agent & Broker Professional Liability (E&O)
  • Excess limits available
  • Primary limits from $1M to $10M
  • Minimum premium starts at $25,000
  • Customizable policy form
  • Experienced underwriting
  • Superior claims & defense assistance
  • Proprietary loss control program to help reduce professional liability exposures
  • Insolvency exclusion carveback for carriers rated “A” or higher by Demotech. Other carriers below our AM Best “A-“ threshold can be considered on an individual basis

Carrier

  • Arch Specialty—AM Best rated A+ XV

Designed for Insurance firms with over $1M in net revenue

  • Insurance Retailers
  • Insurance Wholesalers
  • Surplus Lines Agents/Brokers
  • MGAs
  • Program Administrators
  • TPAs
  • Captive Managers
  • Reinsurance Intermediaries

Claims Handling

  • Arch claims professionals are located in all regions across the U.S.
  • Claims professionals specialize by product line
  • Handles claims from small to large, simple to complex
  • Report a claim 24 hours-a-day, 365 days-a-year
  • Additional value added services
    • Litigation Management
    • Special Investigations Unit
    • Patented Automated System

ABPRO® with Certain Underwriters at Lloyds—AM Best Rated A

ABPRO® was founded on a 12+ year relationship with our underwriter, a partner who shares Quadrant’s underwriting principles and standards. When you become part of ABPRO, you are welcomed into a professional liability “home” where you are valued and respected. Within ABPRO we can also offer freestanding companion management liability—D&O, EPL, and Fiduciary Liability.

Coverages

  • Insurance Agent & Broker Professional Liability (E&O)
  • Directors & Officers Liability
  • Employment Practices Liability
  • Fiduciary Liability
  • Excess limits available

Highlights

  • Primary limits from $1M to $5M
  • Customizable policy form
  • Experienced underwriting
  • Superior claims & defense assistance
  • Proprietary loss control program to help reduce professional liability exposures
  • Insolvency exclusion carveback for carriers rated “A” or higher by Demotech. Other carriers below our AM Best “A-“ threshold can be considered on an individual basis

Carrier

  • Certain Underwriters at Lloyds—AM Best rated A XV

Designed for Insurance firms with over $750,000 in net revenue

  • Insurance Retailers
  • Insurance Wholesalers
  • Surplus Lines Agents/Brokers
  • MGAs
  • Program Administrators
  • TPAs
  • Captive Managers
  • Reinsurance Intermediaries

Quality Assurance Program Overview—Loss Control Assistance

Loss Exposure Awareness
Errors and omissions in insurance processing and handling can lead to significant losses that can have a direct financial impact and damage reputations as well as disrupt day-to-day business operations. That’s why Quadrant developed a loss control program called Quality Assurance (QA) as a companion program to our Insurance Agents & Brokers Professional Liability programs.

Sources of Professional Liability Claims
Failure to provide the proper coverage is one of the most common causes of loss, occurring about four times as often as other kinds of loss. New exposures from technology—email, electronic records, smartphones, etc—have created more risks and the protections they require. Other less frequent exposures need to be protected against as well since any one claim can be devastating to a firm.
Common sources of professional liability claims:

  • Failure to provide the proper coverage
  • Misrepresentation
  • Exposure analysis
  • Proposing coverage
  • Reviewing policies and proposals
  • Documentation
  • Lack of written confirmations for declined coverages/higher limits

The QA program is designed to help your firm:

  • Cultivate stronger business relationships
  • Upgrade the professionalism of employees
  • Provide better information to management
  • Refine operations to their most efficient level
  • Improve internal procedures
  • Identify and manage professional liability exposures
  • Evaluate current activities and develop appropriate administrative controls
  • Minimize the frequency and severity of professional liability claims
  • Raise overall service and efficiency levels

The QA program is introduced through a one-day in-house review conducted by one of our independent consultants. This review is performed annually to help our clients monitor, fine-tune, and solidify Quality Assurance practices. The value of Quality Assurance reviews and the assistance given multiply with each successive year in the program.

Demotech, Inc.

Quadrant’s Agents & Brokers Professional Liability products include an insolvency exclusion carveback for carriers rated A or higher by Demotech, Inc. Other carriers below our AM Best “A-” threshold can be considered on an individual basis.

Why do we include Demotech rated carriers in our insolvency carveback? We met with Demotech’s principals and reviewed the company’s history, objectives and track record. We were impressed and chose to include Demotech rated carriers in our Agents & Brokers Professional Liability insolvency exclusion carveback as much as possible.

Demotech is a financial analysis firm and since 1985 has provided Financial Stability Ratings® (FSRs) for Property & Casualty insurance companies and Title underwriters. Demotech assesses solvency based upon a company’s financial stability as manifested in an insurer’s statutory financials. FSRs are based upon a series of quantitative ratios and considerations which together comprise Demotech’s Financial Stability Analysis Model.
http://www.demotech.com/

About Demotech
Demotech’s rating process has been formally reviewed and accepted by Fannie Mae, Freddie Mac and HUD. Insurers of all sizes are evaluated and rated by Demotech. Demotech believes that financial stability is independent of size. Some of the key metrics reviewed by Demotech to determine Financial Stability Ratings® include:

  • Liquidity
  • Leverage
  • Loss reserve development
  • Gross written premium to surplus
  • Net written premium to surplus
  • Underwriting results
  • Operating results
  • Change in surplus
  • Risk based capital
  • Business model
  • Industry focus

Financial Stability Rating® Definitions
A Financial Stability Rating® summarizes Demotech’s opinion as to an insurer’s ability to insulate itself from the business cycle that exists in the general economy as well as the underwriting cycle that exists in the insurance industry.

  • A” (A Double Prime), Unsurpassed: Regardless of the severity of a general economic downturn or deterioration in the insurance cycle, one hundred percent of the insurers receiving a Financial Stability Rating® of A” (A Double Prime) are expected to have positive surplus as regards policyholders as of eighteen months from the initial date of rating assignment.
  • A’ (A Prime), Unsurpassed: Regardless of the severity of a general economic downturn or deterioration in the insurance cycle, at least ninety-nine percent of the insurers receiving a Financial Stability Rating® of A’ (A Prime) are expected to have positive surplus as regards policyholders as of eighteen months from the initial date of rating assignment.
  • A, Exceptional: Regardless of the severity of a general economic downturn or deterioration in the insurance cycle, at least ninety-seven percent of the insurers receiving a Financial Stability Rating® of A are expected to have positive surplus as regards policyholders as of eighteen months from the initial date of rating assignment.
  • S, Substantial: Regardless of the severity of a general economic downturn or deterioration in the insurance cycle, at least ninety-five percent of the insurers receiving a Financial Stability Rating® of S are expected to have positive surplus as regards policyholders as of eighteen months from the initial date of rating assignment.
  • M, Moderate: Regardless of the severity of a general economic downturn or deterioration in the insurance cycle, at least ninety percent of the insurers receiving a Financial Stability Rating® of M are expected to have positive surplus as regards policyholders as of eighteen months from the initial date of rating assignment.
  • L, Licensed: Insurers earning a Financial Stability Rating® of L are licensed by state regulatory authorities. The evaluation of the financial stability of these companies precludes the assignment of one of the Financial Stability Ratings® listed above.
  • NR, Not Rated: Insurers designated as NR are not currently assigned a Financial Stability Rating®.

Submission Guidelines

  • Completed application
    • Typically we can work from a competitor’s application or you can contact us for a new application.
  • Loss history
    • 3-5 full years of carrier loss runs, currently valued
  • Claims details
    • Summary of what happened, when, what was paid/by whom, current status, and corrective actions taken. Or complete and submit claim supplement.
  • Financials may be required
  • Define the opportunity
    • Who is the current carrier? Is incumbent offering renewal terms? If no, why not? If yes, why is insured marketing it? To whom is it being marketed? Are there any special concerns?
  • Current and desired premium/deductible/limits
  • Coverages needed and any special coverage requests
  • Effective date
  • Quote need-by date
  • Other coverages that the insured may be interested in
  • Send submission to submissions@quadrant-us.com
  • If you have any questions, please feel free to contact us at: 614.841.1425 and ask for a producer.
Quadrant Insurance Managers HQ

Testimonials & Quotes
“Quadrant stands apart from other insurance intermediaries because of their unique and close relationships with underwriters across the globe, their creativity, their coverage analysis, their understanding of the insurance marketplace, and their personal service. They deliver value, not just insurance products. It is a true pleasure to work with Mark Harris and the entire staff at Quadrant. Their pr0ofessionalism is unmatched.”

– Tim T.
President, Retail Agency

Programs

Things We’re Talking About

ADDITIONAL COVERAGES TO CONSIDER:

  • Crime/Kidnap & Ransom
  • Cyber/Network Security & Privacy
  • Management Liability—D&O/EPL/Fiduciary
  • Professional Liability
  • Pollution
  • Umbrella/Excess Liability

The coverage information outlined is a guideline only. Please refer to the actual policies for the full terms, conditions, exclusions, and limitations. In the event of a conflict between this document and the actual policies, the actual policies will supersede this document.