A recent bulletin from the Excess Lines Association of NY (ELANY) notes that a program manager underwriting on behalf of an excess lines insurer must be licensed as an excess lines broker. Program manager also means cover holder, managing general agent or program administrator.
Of note – the bulletin also notes: Excess line brokers owe their duty to the insured not the insurer under New York law.
Tennant Risk Services is a specialty wholesale broker and underwriting manager, and delivers expertise, markets and exemplary services to our retail insurance agent clients in the placement of professional liability insurance (E&O, D&O, EPL, Cyber).
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