Shannon Skurner photo_2008_small
Shannon Skurner
Vice President 

Texas Agency Manager




I am sending you this Bulletin in order to provide you with important information which includes warning - along with recommendations, regarding various E&O Insurance Carriers.   



Shannon Skurner 

E&O Carriers

Warnings and Recommendations




ORT has not had a favorable experience with all insurers


For example, ORT recently had a large E&O claim with Lloyd's of London where agent liability was clear and indisputable, but instead of accepting a verified chronology of facts, Lloyd's forced ORT to file a lawsuit against the agent.  During the course of the suit, Lloyd's deposed many of the Company's personnel who neither had knowledge of the specific claim nor, in fact, knowledge of the agent . Like the vast majority of E&O policies, the Lloyd's policy reduced the policy limits by the attorney's fees expended to defend its insured.


This type of harassment litigation has not been our first
negative experience with Lloyd's




ORT has established long term relationships with two insurers, AIG and the Title Industry Assurance Company ("TIAC"), that together insure over 400 ORT agents.  Our claims experience with these two carriers have been favorable.


The TIAC policy is not only endorsed by ORT but it also offers ORT agents special premium pricing and enhanced coverage.   


AIG, although not formally endorsed by ORT, offers advantageous premium pricing to ORT agents, if the policy is issued through Merriam Insurance Agency.  AIG has settled our claims without litigation, provided ORT submits a chronology of the facts supported by documentation causing the claim.


   Switching Carriers


Even though ORT recommends that its agents procure E&O coverage through TIAC or AIG, please be aware that switching carriers may cause a break in coverage.  If your agency has coverage already - and you seek a recommendation for another carrier, you may risk a break in coverage.  Unless the new, or replacement carrier, provides "prior acts" coverage, claims caused by a negligent act during the policy period of the former policy, but discovered during the new policy period, will not be covered under new policy.  Therefore, consider the need for continuous coverage before switching to another carrier that will create a break in coverage.


   Contact Information


AIG insures 225 ORT agents through the Merriam Insurance Agency in Schenectady, New York.  Merriam is licensed in 48 states - excluding North Dakota and Hawaii.  ORT agents are also insured by AIG through other insurance brokers making AIG our largest E&O carrier by a wide margin.


TIAC, our second largest insurer, insures 182 ORT agents. 


The contact information for Merriam Insurance Agency and TIAC is:


The Merriam Insurance Agency
Thomas Lawrence
376 Broadway
Schenectady, New York 12301


Title Industry Assurance Company ("TIAC")
Rich McCarthy

1612 McGuckian Street, Suite 200
Annapolis, Maryland 21401

TIAC has a website that is specifically for ORT agents to obtain a premium quote and/or to submit an E&O application.

Should you have any questions or require further information, please contact
David Rhodes or Steve Streiff in our Legal Department.


David Rhodes Photo4
David Rhodes
Senior Underwriting Counsel

Steve Streiff Photo02
Steve Streiff
Underwriting Counsel


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