Liability insurance problems

The following is the reply we got from our insurance carrier when we submitted our paperwork for renewing our annual insurance package. Anyone else having these problems? Got any ideas how to avoid being caught up with the mortgage people? We do $10,000 and $25,000 per loan packages with minimal collateral, certainly no mortgages. Please send me your thoughts or ideas…mahalo!
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“Regarding the Professional Liability renewal, we are running into some difficulty due to market conditions for mortgage bankers/brokers.* The renewal quote is horrendous.* We have one more quote coming in but would like to take the incumbent up on their offer of a 30-day extension to continue to search the market.
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So far, Mount Vernon Fire, Axis Surplus, Evenston, Admiral and another Lloyds market declined.* We are waiting for Houston Casualty and other markets to respond.
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Last years premium was $2,500 with $2,500 deductible, renewal quote is $20,000 with $20,000 deductible, $1,000,000 limit based on $481,000 annual revenues.”*
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Susie
Susie Thieman,
CEO
MEO Business Development Corp.
99 Mahalani Street
Wailuku, HI 96793
Business (80 249-2990 Ext 237
Fax (80 249-2991
susie.thieman@meoinc.org
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Helping People. Changing Lives.
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From: bounce-1746847-4989743@list.cornell.edu [mailto:bounce-1746847-4989743@list.cornell.edu] On Behalf Of William Myers
Sent: Wednesday, August 29, 2007 12:51 PM
To: communitydevelopmentbanking-l@cornell.edu
Subject: FY 2008 Round of the CDFI Program Opens!

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The CDFI Fund announced the opening of the fiscal year (FY) 2008 round of its CDFI Program.* The CDFI Fund anticipates that the Notice of Funds Availability (NOFA) which governs the CDFI Program will be published in the Federal Register on Friday, August 31, 2007.
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The CDFI Program application deadline is 5:00 p.m. Eastern Time on October 31, 2007.
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An Applicant seeking financial assistance that is not currently certified as a CDFI must first submit a CDFI certification application by 5:00 p.m. Eastern Time on October 17, 2007.
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Press Release:
http://www.cdfifund.gov/news_events/...ogramOpens.pdf
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Application:
http://www.cdfifund.gov/docs/2008/cd...08_Cleared.pdf
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NOFA:
http://www.cdfifund.gov/docs/2008/cd...nal_082707.pdf
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Those interested in viewing the Application Workshops for the FY 2008 round of the CDFI Program may do so over their computer as a Webcast this Thursday, August 30th at 1:00 p.m. EDT.* The webcast is conducted live and is interactive.
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Information on Webcast:
http://www.cdfifund.gov/webcasts/index.asp
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