Big Challenges! Big Solutions! Excess and Surplus Lines Insurance in the Private Client Space with Kevin Madden of AMWINS

In this episode, Personal Insurance Advisor at Ericson Insurance and CEO of RiskRevu, Kurt Thoennessen, CAPI, talks with Kevin Madden of AMWINS about the critical role  the Excess and Surplus Lines insurance market plays in our economy. This discussion explains what the Excess and Surplus Lines market is, how agents, individuals and businesses interact with it, as well as many details that will help you navigate this area of insurance. Kevin is an insurance industry veteran and he shares some amazing information during this episode. I hope you enjoy it and learn a lot from him. Thank you for listening! 

Chapters

• 5:30 Excess and surplus is the back stop of our economy.
• 8:00 Excess and surplus lines is being used more frequently in the private client space.
• 8:47 What is excess and surplus lines insurance?
• 15:30 An example of how to mitigate risk. Automatic Water Shutoff Valves.
• 21:00 What is a wholesaler and what is their role?
• 24:20 Who are the excess and surplus lines carriers?
• 26:57 AirBNB
• 29:30 How much more are excess and surplus lines premiums than those in the admitted markets?
• 31:40 What are some of the way excess and surplus lines carriers taylor coverage?
• 42:50 Builders Risk
• 43:30 Excess and Surplus Lines in California and Florida
• 50:00 Is there such a thing as an uninsurable risk?
• 51:20 How many wholesalers should agents work with?