Insurance Company Problems

30yearsexperience · Post by **30yearsexperience** » Wed Dec 31, 2003 11:51 am

does anyone have any specific company complaints with ace insurance company and their relationship with rain and hail insurance services?
how do you feel about ace sending our business to rain and hail and rain and hail requiring us to sign their contract? (rain and hail)

hotshot · Post by **hotshot** » Tue Jan 20, 2004 1:03 pm

Who is " rain & hail" ? Are they a general managing agent, or E&S broker? Are you being given no other alternative? B) B)

FiniteReUnderwriter · Post by **FiniteReUnderwriter** » Tue Jan 20, 2004 1:32 pm

From your post, not clear what the underlying transaction is. From the names involved, assume it is a form of weather cover ... Crop-Hail? Or is it some other form of weather-related coverage? Done as insurance, or as a derivative? Are you dealing with ACE US, or Bermuda?

Ordinarily, if transaction was done as an insurance cover, state insurance laws will restrict a carrier's ability to "novate" (or transfer) the cover to another party without the insured's consent. But, if done as a derivative, then you will need to look to the specific terms of the contract for guidance.