EXCESS LIABILITY PROGRAM

One Star Insurance Solutions offers a comprehensive Excess Program available to independent agents contracted with BITCO Insurance Company with limits from $1 million to $10 million. This program is open to BITCO agents with a specific focus in the oil & gas sector, who have needs for increased limits /coverages over BITCO underlying policies and want to take advantage of the follow-form coverage.

This Excess coverage is also available on risks such as contractors for building trades, transportation construction, utility construction, land improvement, forest products, structural moving and general contractors.

Gunnar Kephart, E&O Specialist for the Independent Insurance Agents of Texas has indicated that the largest number of E&O claims have come as a result of not offering enough limits or not offering the coverage at all.

TIME ELEMENT COMPARISON

Travelers, ACE, and AIG forms defines it as being sudden and accidental, abrupt, and unexpected or unintended by the insured while occurring during the Policy Period and reported to the company within the Time Element.

To the contrary, the BITCO Policy says the Pollution incident commences on or after the Retroactive date and has NO Time Element factor and does not have sudden and accidental wording.

EXCESS POLICY WORDING COMPARISON

Travelers, ACE, and AIG use the same wording as the primary in the excess.

To the contrary, only with One Star’s policy can we provide the broad pollution wording. The One Star Program provides the same terms and conditions up to $10,000,000 limit as the BITCO primary policy.

LAST DAY OF COVERAGE COMPARISON

If the policy moves from Travelers, ACE, or AIG and the insured has a pollution incident that occurs in the last day of coverage, the insured would still be subject to the Time Element reporting provisions.

To the contrary, the BITCO form allows for a one year extended reporting period for those instances. This would be much broader than the Time Element wording.

SUBMISSION REQUIREMENTS:

Over BITCO:

  • Signed Acord 125 & 131
  • BITCO Auto Questionnaire
  • Oil Lease Operator/Contractor Questionnaire
  • Underlying Quotes
  • Underlying Limit Requirements: CGL 1M/3M, AL 1M, PL 1M/3M, EL 1M/1M/1M
  • 5-year Currently Valued Loss Runs

If applicable:

  • Well Schedule
  • Drilling footage for wells to be drilled
  • MSA
Over Other Carriers: Contact: Hannah@1starins.com

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