Insurance Agents E&O: Protecting Those Who Insure Others
Our U.S. RiskPros division provides insurance professionals with comprehensive Errors & Omissions (E&O) coverage designed to address their exposures in designing and securing a risk management and insurance program for clients. E&O exposures include allegations from clients of having inadequate coverage or no coverage at all after a loss (think of all the flood claims in the aftermath of major storms and the uninsured who look to their agents for recourse), property claims involving replacement cost coverage vs. actual cash value disputes, confusion over coinsurance penalties and the impact on commercial property coverage, and disputes over additional insured coverage, among others. In many cases, it’s an issue of he-said, she-said, but the cost to defend such lawsuits can be significant. Having the right coverage with the right carrier is key. That’s where our Insurance Agents E&O coverage comes in.
INSURANCE AGENTS WE WRITE
- Property and life
- Accident and health
- Personal and commercial lines
- General agents
- Wholesalers
- Surplus lines brokers
- MGAs
- Program administrators
- Variable annuities
- Mutual funds
PROGRAM HIGHLIGHTS
- Program available nationwide
- Startups with experience considered
- New policy form
LIMITS AND DEDUCTIBLES
- Available limits up to $5M per claim and annual aggregate, defense outside limit options available
- Deductibles starting as low as $1,000 with aggregate deductible available
COVERAGE FEATURES INCLUDE
- Claims made and reported form
- Administrative hearing and subpoena coverage ($25K outside the limits, no deductible applies)
- $25K employment practices coverage
- Spousal and domestic partner coverage
- Punitive and multiplied damages coverage (where insurable)
- Coverage for wrongful acts – worldwide coverage (claims brought in the U.S.)
- Contingent BI/PD
- A-insolvency coverage
- Personal injury coverage
- Final adjudication/innocent insured coverage
- Personal injury coverage available
COVERAGE FEATURES AVAILABLE
Offered at underwriter discretion based on risk qualifications.
- Prior acts coverage
- B+ insolvency
- Full worldwide coverage (claims brought anywhere in the world)
- Claims expenses outside the limits
- First dollar defense
- Independent contractor and sub-producer coverage
- Occurrence-based general liability endorsement
- Limits up to $1M/$2M
- Minimum deductible $500
- Minimum premium $500
Contacts
DALLAS: (800) 232-5830
William Duvall, Underwriter
(469) 983-7190 | william.duvall@usrisk.com
Amy Northcutt, Assistant Underwriter
(469) 983-7110 | amy.northcutt@usrisk.com
Claims Reporting Information