Back E/O Coverages - Victim ID Theft

I need trustworthy sources to give me feed back on E/O Coverages. I am a victim of Identify Theft. My legal counsel will not allow me to disclose my financials to anyone. What E/O Carriers can you recommend to me that will give me E/O Coverage without showing them my financials? What amount of coverage would you request to protect yourself and why did you chose that amount? What is your premium? I have gone into the Department of Insurance website and I have been advised that Lesli are approved carriers by the Department of Insuance and they will require financials for E/O policies. I was told to contact Surplus Lines, for E/O. I was told they are non licensed companies. Do they require financial, too? What are the pro's and con's Surplus Lines? What are the risk factors in case of loss since they are non-licensed companies? Are these companies safe to do business with as I have received negative and positive feedback. What companies would you recommend to me that would be able to meet the requirements I listed above? I want to thank all of you in advance who will respond to my e-mail. I will listen to you and I will contact those companies you recommend. Again, thank you for taking your time to read my e-mail.

Hi! I feel for you and hope that your legal counsel is serving you well! You are in a Catch-22 situation and honestly, I do not know if you will be able to obtain insurance from an Admitted or (LESLI list approved) Non-Admitted insurance company without having to present financials. As far as limit of coverage I would seek, what is the amount of exposure that you have to protect? This is a figure that you will have to come up with, with assistance from your financial advisors. Basically, the amount you are looking for is the amount that you need to protect. $1,000,000 these days is pretty much bare bones coverage. I would recommend C-N-A, AIG, Hartford, Arch, etc. I would contact a professional liability insurance specialist because they are directly involved with these carriers on a daily basis. There are excellent Surplus Lines (i.e. Non-Admitted) carriers. They need to be on the LESLI list from DOI and my suggestion is to seek an A rated carrier. The thing to keep in mind is that Non-Admitted carriers do not participate in the CA Guarantee Fund, and should the carrier go belly-up, there is no recovery from CIGA. CIGA has a cap on what it will pay out, so keep that in mind too. There are no guarantees, but there is a lot of information available and obtaining a financially sound carrier whether they be Admitted or Non-Admitted in CA is what to be concerned about. I would contact three brokers from recommendations of associates or by seeking them out over the Internet. Best regards, Carrie M. Allen, ARM Marketing Rep/Commercial Division Arrowhead General Insurance Agency, Inc.

Hi Carrie, Thank you for responding to my e-mail and giving me very good advice. I had concerns about going with Non-Admitted carriers. I am please you agreed with me. I have excellent legal counsel for our firm. I victim of identify theft it is very serious. I cannot begin to tell you what the last years have been like for me. THerefore, giving up my financial are not an option. I will go onto the DOI website and call those carriers you mentioned. If you have any addtional feedback, it would be appreciated.

Not sure why giving you personal or corporate financial statements would increase your chances of becoming a victim of identity theft. Giving out your account numbers, pin code, social security number or credit card numbers would be the source of 99% of all identity theft. All your financial statement lets them do is pre-qualify you to see how much they could potentially go after. You can never fully protect yourself from identity theft. You can attempt to control the exposure. I have heard good things about Life Lock (http://www.lifelock.com/). They can prevent identity theft where most of the insurance coverages out there just help you restore your identity. You can always require any party you give your financial statements to to sign a confidentiality agreement. You also have some recourse against anyone who loses your confidential information. We introduced a product for the unintentional release of confidential information (Privacy Insurance). You can get information on this program at www.getguardinsurance.com. It is rated based on the number of employees and minimum premiums start at $300 If you need more information, contact me at kennethkukral@intlxs.com