| Programs

Insurance Companies

AXPRO—Insolvency Gap

AXPRO—Agents Extra Protector is designed for insurance companies that are financially strong but are not AM Best rated or are rated lower than B++. Insurance Agent’s E&O policies typically have an insolvency exclusion that excludes coverage for business written with insurance companies that are not rated by AM Best or are rated lower than B++. This AM Best rating factor can sometimes discourage agents from working with an otherwise stable carrier, fearing an underlying claim may go unpaid if the insurance company becomes bankrupt. Therefore, agents may avoid writing business with some very good insurance companies that are excluded from the agent’s professional liability policy.


How does AXPRO work?

  • AXPRO is purchased by qualifying insurance companies who designate the agent(s) they want to cover. Individual agents cannot purchase the coverage for themselves.
  • If the insurance company becomes insolvent and cannot pay an underlying claim, the AXPRO policy will drop down to provide the agent with insolvency gap coverage.
  • The insurance company can purchase the coverage for one or more agents.
  • The insurance company will be provided a Certificate of Insurance naming the selected agent(s) to be protected.
  • The insolvency fear is reduced, so covered agents have more incentive to write business with the purchasing insurance company.


Coverages and Highlights

  • Verve Risk Services Ltd., a Lloyds MGA
  • AXPRO (via a drop down endorsement)
  • Limits starting at $1M
  • Primary and excess limits
  • The beneficiary of the insurance policy can be adapted on a case by case basis to meet the needs of the insurance company purchasing the coverage.


Target Classes

  • Insurance Companies that AM Best has not rated or has rated lower than B++
  • Insurance Companies must be favorably reviewed by Demotech, Inc.
  • Insurance Companies must have $250MM or less in annual gross written premium volume and must have a profitable history


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
"Wanted to send you a quick note to catch you up on my journey on the E&O policy. I am officially no longer a novice at E&O. It was a two month journey but definitely a necessary one. First, thank you for connecting me with Jillian. I can't say enough about how pleased I am to have worked with her. She was extremely professional and delivered a ton of value in adding to my knowledge. I am a pretty small agency, but she treated me with the same respect as a large agency. Truly exceptional."

– Brad H.


Things We’re Talking About


  • 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.