CBIC Insurance

[sfav8r]

Hi,

I have been with CBIC insurance for quite some time. Lately, it seems as though they live to drown me in paper work.

Two things they have done this year really puzzle me. First, I have $2,000,000 liability policy, but they wanted me to sign a document stating I would not work on individual homes with a value of more than $1,0000,000. Why? I refused to sign and sent them a letter stating that I was not a real estate apraiser and was not qualified to determine the value of the property I worked on. They finally agreed to raise the amount to $2,000,000 if I would agree to sign the paper. I modified ot clarifying that I wasn't qualified but would make my best guess. (I live in San Francisco, so $2,000,000 isn't uncommon).

Now after reviewing my income statement this year, they questioned an "other income" item I had for about $18,000. I wrote them back and explained that I had done some web site development for a client (I did this in a previous life).

Much to my surprise, they responded by sending me a letter telling me that I had to stop doing this immediately or they would cancel me.

I can see a rate adjustment or something, but canceling me?

Does anyone else use CBIC and if so, what has your experience been? Any other suggestions of who I might get quotes from before I get cancelled?

Thanks.

[ June 20, 2005, 10:07 PM: Message edited by: sfav8r ]

 

[jeff43222]

Re: CBIC Insurance

Sounds kinda weird that they would care about your Website development work. Your liability insurance should clearly only cover your EC work, not be a blanket policy that covers any work of any type done for anyone at any time.

As for the value of the homes you work in, it seems to me that you are the one running the risk. I talked to my insurance guy about this the other day, as I also have $1,000,000/$2,000,000 coverage, and I was concerned about my risk if I worked in a multi-unit building that was worth more than my coverage (I mostly work in single-family homes well within my coverage, but occasionally I work in multi-unit buildings). When he looked into it for me, he discovered that my carrier was getting out of that line of business, so he'd see about finding me new coverage come November.

I'm not familiar with CBIC. My current carrier is Zurich.