Are you a serious industry professional, or at least want to be taken seriously while you are breaking into the business? Then you need insurance. NOTHING will set you apart from your competition as forcefully as having a professional liability insurance policy. It can seem right now that everyone else wants to be like Duane Chapman and Wife, Mom, Bounty Hunter but practically no one wants to treat their own business as anything more than an adrenaline sport. Being able to prove that you are a committed professional who is concerned for his or her clients will immediately set you apart from the crowd.
We are extremely proud to be breaking this story. If you have been in the bail enforcement business very long you know that, at least up until now, that a specialized insurance policy for private bail recovery operations has been impossible to find. There have been some policies advertised in the recent past that came close but upon scrutiny they could not pass inspection. Then I had the chance to interview to Bill Hines of Evolution Insurance Brokers and that changed. Please note that I have no professional affiliation or association with EIB in any way except to say that I like what these guys are offering:
- Do you have a professional liability insurance policy available for bail enforcement agents (bounty hunters, fugitive recovery agents, etc.)?
We are an excess and surplus lines company that specializes in providing coverage where standard markets decline. Also if a standard company offers coverage for a portion of your business we will fill in their gaps or exclusions such as fugitive recovery to strengthen your policy. We offer both commercial liability and/or professional liability for bounty hunters, fugitive recovery agents, etc. We offer a variety of options to cover risks involving weapons, wrongful entry, wrongful seizure, abuse and molestation, and more. Also available are personal liability plans that act as a shield in the event of civil suit filed against an individual. Policy holders are given the security of quality legal defense and payment of claims that provides protection up to the limits chosen.
- What, specifically, does this policy cover?
The coverage provided by a policy depends on the needs and requests of each insured. Each coverage plan is tailored to fit the applicant. Coverage for the insured can include a variety of risks and additional insureds or employees can be scheduled under a policy if desired. The nature of each individual’s business activities is what determines the coverage plan. For example, fugitive recovery agents would be issued coverage for the risks inherent to the activities they are involved in and could include any specific risk, such as holstering a weapon, abuse and molestation, or wrongful seizure, etc. within their plan.
- Who is underwriting the policy and are they a reputable entity? Are they rated?
The majority of our policies are written through Prime Insurance, an excess and surplus lines carrier. Prime has an AM Best rating of B++ and has been in business for almost 30 years.
- How did you come to realize that a need existed for bail enforcement agents and private investigators that provide fugitive recovery services?
We are seasoned experts in the excess and surplus lines industry that has been offering protection those declined or rejected by other insurance providers. We have provided coverage for law enforcement officers, private investigators, and security work professionals. Our strive to communicate directly with insureds and constant search of those who have difficulty finding a provider for insurance is what has driven our success in the past. Following this model is what led us to learn that fugitive recovery is excluded from most policies.
- What are the requirements for a potential client to qualify for coverage?
We have no set requirements in order to be insured with us. We review and consider all applicants whether they are new to the business, have past claims or prior financial trouble. We provide solutions to both experienced veterans, and those just entering the field.
- What specific exclusions apply?
We have no set exclusions. We customize our policies to cover the areas that an insured needs or requests protection for.
- What policy limits and deductibles are available through this policy?
Again, we offer customized policies that allow applicants to choose the limits and conditions they need. We collaborate with the insured and work together to create a quality plan at an affordable premium. We can range from a $50,000 aggregate to a $2,000,000 aggregate with various deductibles, sub-limits, and other options.
- Do you offer coverage for investigators and agents who carry a concealed firearm?
Yes we do. This coverage is for individuals who meet the criteria of corresponding state and federal laws regarding concealed weapons. This coverage applies to many types of individuals, from police officers to bounty hunters.
- Do you offer legal defense and personal liability coverage?
Yes we do. We offer personal coverages made available through Xinsurance. You can find out more about this by contacting us directly at 1-800-456-4576.
- Do you offer Errors and Omissions / Professional Liability policies written specifically for private investigators?
Our structure and focus on customizing policies allows us to create policies for each individual we insure. We offer E&O and wrongful acts coverage for several classes and review and consider any risk.
- Do you offer “gap coverage” in the event a potential client already has professional liability policy but needs coverage for activities excluded from his or her current policy?
Filling in Gaps or exclusions has been one of our focuses for the last three decades. We fill in exclusions to allow individuals to keep as much of their business in the standard markets as possible. This provides them with lower premiums but insures they have coverage in all the areas it is needed. We can fill in exclusions with weapons coverage, assault and battery, abuse and molestation, wrongful acts, wrongful entry, non-owned auto, and more.
- In which states are these policies available?
Coverage is available in most states and contact us at 1-800-456-4576 for more information
- Where are you located?
Chicago, IL and Sandy, Utah
- How long have you been in business?
We have been in business for nearly 30 years.
- If our readers have questions concerning your services and insurance policies, what is the easiest way for them to get a hold of you?
1-800-456-4576 ext. 7815
To find out more about our specialty coverage visit us at www.eibdirect.com