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Professional Liability

E and O Happens

Errors & Omissions Program
We realize that protecting the future of your agency is a major priority. You trust us to represent your interests at the highest political level and as your association we also want to provide you with the security of knowing you are getting the best overall E&O value in the marketplace—not just a policy, but a comprehensive program.

Please contact us at eando@uaiia.org for more information.

 

Westport/Swiss Re

For 25 years, the Big "I" Professional Liability Program underwritten by Westport Insurance Corporation, a member of the Swiss Re Group (rated A Excellent by A.M. Best), has been the premiere choice of IIABA member agents for insurance agents and brokers E&O insurance.
The Big "I" Professional Liability Program offers not just a policy, but a comprehensive program for insurance agents. Over the past two decades the Big "I" Professional Liability Program, underwritten by Westport Insurance Corporation, a member of the Swiss Re Group, has grown into the largest and most stable insurance agents E&O program in the nation. Our member agents and brokers nationwide look to the program for stable rates and a long-term market that they can rely on to protect their greatest assets—their businesses.
 Coverage Highlights:
 
Working with our partners at Swiss Re, we have created one of the strongest coverage forms in the marketplace. Structured using a modular approach, our policy provides solid core coverage as well as coverage units to insure against other exposures of concern. Review our policy form and you will see these are just a few of the coverage benefits of the Swiss Re policy:
  • Coverage for the sale of both P/C and Life and Health insurance products
  • Limits of liability up to $15 million
  • Broad definition of covered professional services and activities
  • Comprehensive definition of who is an insured
  • Aggregate deductibles
  • Defense cost outside the limits
  • Available first dollar defense
  • Full prior acts available
  • No contractual liability exclusion
  • Coverage for punitive damages (where available by states)
  • Multiple extended reporting period options
  • True worldwide protection
  • Coverage for advertising, libel and slander
  • Available coverage units:
    • Employment Practices Liability
    • Real Estate Agents E&O
 Coverage Benefits:
  • The only P/C insurance agents and brokers E&O program in the marketplace that contributes a percentage of every premium dollar to the funding of important advocacy efforts of the IIABA.
  • State associations that serve to assist you should a claim arise.
  • An exclusive policy form and premium credits filed on a Risk Purchasing Group basis to give Big "I" members coverage tailored to their needs.
    • The only P/C insurance agents and brokers E&O program in the marketplace that contributes a percentage of every premium dollar to the funding of important advocacy efforts of the IIABA.
    • State associations that serve to assist you should a claim arise.
    • An exclusive policy form and premium credits filed on a Risk Purchasing Group basis to give Big" vAlign=top li needs.< their to tailored coverage members I?>
    • Competitive pricing supported by a critical mass of premium volume to maintain rate stability.
    • A partner in Swiss Re, a member of the Swiss Re Group, rated "A Excellent" by A.M. Best.
    • Loss prevention materials to reduce the chance of a claim and improve business processes.
    • An exclusive comprehensive risk management website including practical information and tools to help your agency avoid E&O claims -www.independentagent.com/EOhappens.
    • E&O Claims Advisor - a quarterly E&O risk management newsletter available only to Swiss Re policyholders, providing valuable information to all positions in the agency.
    • A Professional Liability Committee of IIABA member agents to oversee and recommend enhancements to the program to meet the ever-changing needs of agents.

The Swiss Re policy is designed using a set of general terms and conditions and coverage modules. This allows Swiss Re the flexibility to effectively react to the coverage needs of member agents.

Westport Application.pdfWestport Application.pdf
 

Fireman's Fund


With more than 25 years of experience, Fireman's Fund is an industry leader in providing liability coverage for agents and brokers against errors and omissions. Fireman's Fund Insurance Company is rated A Excellent by A.M. Best. This additional E&O market is available nationwide.

Coverage Highlights:
With over 25 years experience, Firemen's Fund is a dedicated, experienced insurer of Insurance Agents' needs - yesterday, today and tomorrow.
  • A rated carrier written on admitted paper
  • Dedicated claims staff focuses exclusively on insurance E&O claims
  • Long-standing market player in Agents E&O
  • Coverage for the sale of both P&C and L&H
  • Choice of three endorsements for sale of Financial Services Products
  • Broad definition of covered professional services and activities
  • Available first dollar defense
  • Policy limits available up to $10,000,000
  • Aggregate deductible applies
  • Expert witness testimony covered
  • Protection when you train, manage or supervise a client in the selling of insurance products
  • Market-quality Insolvency coverage
  • Broad definition of "who is an insured"
  • Retroactive coverage and multiple extended reporting periods offered
  • Three-tiered Employment Practices Liability offered by endorsement
  • $10,000/$30,000 catastrophe claims extra expense included with no additional premium
  • $35,000 regulatory investigation defense expense coverage per policy
  • Up to 60 days after end of policy period to report claims and purchase extended reporting
  • Immediate predecessor firm coverage
  • Supplementary Payments of $500 per day for expenses incurred in aiding in the defense of a claim
The Fireman's Fund policy offers broad coverage tailored to insurance agencies.

Liberty Mutual Insurance Group

Since 1912, Liberty Mutual has been committed to providing broad, useful and competitively-priced insurance products and services to meet their customers ever-changing needs.
 
Liberty Mutual delivers on this commitment and is now the 5th largest P&C insurance company in the United States. Liberty Mutual has earned an A.M. Best Co. ‘A’ (Excellent) rating.

 

Utica National Insurance Group: Since 1966, Utica has been a leader in providing quality protection for agencies in the US. Their long term relationship with local and state association brings additional talent and expertise to the task of protecting you and your business. Rating is done by the number of employees with credits applied for expertise and loss control attendance.

For Agents who sell only L&H policies, please complete the Life & Health Application along with a disclosure for each producer.

 

 

 
 


 

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