Overview
Not all underlying home and auto carriers qualify for a Monoline umbrella policy. Here is how to check whether a client's carrier is acceptable and what to do if you need a determination from underwriting.
Carrier Eligibility Requirements
Monoline accepts underlying home carriers based on their financial rating and policy type:
AM Best rated B+ or better: Accepted on both admitted and non-admitted policies
Demotech rated A: Accepted on admitted policies only This distinction ensures that only carriers meeting state authorization and financial stability requirements are eligible.- Demotech-rated carriers for auto policies: Not accepted, regardless of admission status.
Important: Non-admitted policies from Demotech-rated carriers are not accepted, even if the carrier appears on our Approved List of Carriers. Demotech-rated carriers on the approved list qualify for admitted policies only. Additionally, the liability for the insured’s primary residence must be scheduled on the umbrella policy, as policies excluding primary residence liability are ineligible. For example, a Demotech-rated carrier offering non-admitted policies would not meet the eligibility criteria, even if it is listed as approved for admitted policies.Additionally, Demotech-rated carriers are not accepted for auto policies under any circumstances. Exceptions are not allowed for non-admitted Demotech-rated carriers. Previously bound policies with ineligible carriers may be flat canceled to align with eligibility requirements.
How to Check If a Carrier Is Approved
You can verify eligibility by reviewing the Approved List of Carriers. Keep in mind that Demotech-rated carriers on the approved list qualify for admitted policies only.To determine whether a carrier is admitted or non-admitted, check the declarations page for surplus lines taxes or fees, verify the carrier’s status on the state’s licensed/authorized carrier list, or use platform prompts to confirm admitted status for Demotech-rated carriers.
What to Do If the Carrier Is Not on the List
If you cannot find a carrier on the approved list, follow these steps:
Request to speak with underwriting in the chat.
Enter the carrier's name manually.
Your request will be sent to underwriting for review.
Our underwriting team will confirm whether the carrier is acceptable.