Agents E&O Insurance Coverage Highlights

Professional Liability Insurance for Insurance Agents
E&O Insurance (Errors and Omissions Insurance) is the professional liability insurance that protects insurance agents from claims arising from the sale and servicing of insurance products. As an insurance agent, Errors & Omissions Insurance could be your most important investment. It provides coverage for claims arising from actual or alleged negligent acts, errors and omissions in the conduct of your business.

Claims Made
Our professional Liability insurance is written on a “Claims Made” basis and as such covers claims first made within the policy period.

Claim Expenses Inside or Outside the Limits
We offer you the option to purchase coverage with defense expense either inside or outside the limit of insurance.

Protection for Carrier Insolvency
As long as the products you sell are fully insured by a carrier and rated B+ or better by A. M. Best at the time of placement, you're protected against legal liability as a result of future insolvency of that carrier.

Broad Definition of Insured - Includes Independent Contractors
The policy's broad definition of an insured includes producers who are, were, or become partners, directors, officers, managers, and employees, as well as independent contractors for whom you choose to provide coverage for professional services and such services are performed on behalf of your agency.

Consent to Settle Provision
The policy provides you the right to approve settlement offers or compromises acceptable to the company and the claimant.

Worldwide Coverage
Claims made against you within the United States and Canada are covered regardless of where the alleged wrongful acts occurred.

Extended Reporting Period
The policy contains a built-in 12 month and 24 month ERP for an additional premium.

Directors & Officers Insurance
The policy covers your firm’s management from claims of negligence, neglect or breach of duty.

Employment Practices Insurance
The policy provides coverage against claims of discrimination, sexual harassment and wrongful termination.

Technology Services Insurance
The policy provides a variety of coverages including coverage for claims of:

• Negligent transmission or handling of electronic data
• Failure to prevent unauthorized access to your computers and the private data on your computers
• Inability to obtain your services caused by a denial of service attack
• Inadvertent transmission of a computer virus

This is a summary of coverages and is not as detailed as the actual policy of insurance. Refer to a specimen policy for coverage details.