Select Wholesalers and Brokers
The Select Wholesale Initiative is officially underway with agreements signed or pending for the approved wholesalers listed below.
THE SELECT WHOLESALER INITIATIVE
The Select Wholesale Initiative is officially underway with agreements signed or pending for the wholesalers listed here.
WHAT MAKES THESE WHOLESALERS DIFFERENT?
As part of the wholesale initiative, these organizations have committed to provide the Leavitt Group with preferred service and access to programs. They represent the elite of the wholesalers with the carrier appointments and underwriting expertise that is critical to our success.
THE RISK: MARKET SECURITY
With the continued soft market, more and more wholesalers are becoming financially unstable. Many times they may try and cut costs by carrying inadequate E&O limits which increases our exposure should they cause a claim. Our select wholesalers recognize the exposure passed to us by the intermediary as well as their own. They have the practices and E&O limits in place that will help us avoid losses.
TRANSITIONING WHOLESALE BUSINESS
Over the course of the next year, Mike Lewis, Kirk MacNaughtan and your agency's Agency Partner will be working with you to eliminate those wholesalers that do not meet the market security criteria approved by the LGAA Members Governing Committee. They will focus primarily on intermediaries carrying less than $5 million of E&O and those that have less than $500,000 in gross written premium throughout the group. As accounts are moved from the non-qualifying wholesalers, we encourage agencies to place the business with the select wholesalers listed here.