What does Due Diligence in E&S mean?
Edited
Insurance agents must follow a regulated process for placing an account in the E&S market. Before placing coverage in the E&S market, there must be a concerted effort to procure coverage from the admitted marketplace first. In many cases, three attempts, but it varies by state. Insurance agents should explain or document why they were unable to obtain admitted coverage. For example, "I do not have access to 3 admitted carriers and use wholesalers to place my general contractor business."
Related Articles
quoting
binding