E&S Markets Rules & Regulations ?

Message

Author

Posted: Wed Mar 25, 2009 12:35 am Post subject: E&S Markets Rules & Regulations ?

Hi, I am new to the forum..I have over 25 years experience in the insurance field. This is the first time I have ever run into this situation...I have a client that is currently insured in a standard market (when he first contacted me he stated that he was in an high risk market) I obtained a quote for him from an E&S company as he did not meet the criteria for any of our standard markets. He was happy with the price as it was over $1000 less then his current policy. When it came time to write the policy I found out that he was covered by a standard company. As far as I know, you can not legally place coverage in the E&S market when the insured can obtain coverage in a standard market. Of course the insured is not happy about this and wants to know if there is a way around this situation.... I was just wondering if anyone had ever come across a situation like this???