Errors and Omissions (E&O) is a form of professional liability coverage
designed to protect an insured against allegations of mistakes made while performing
the duties associated with his/her business. The policy includes coverage for both
defense costs (i.e. attorney fees, court costs, etc.) and indemnification costs
(i.e. settlements or judgments). Intentional wrongdoing is specifically excluded.
Who is Eligible?
P&C Agents E&O coverage is designed for agents generating less than $2
million in revenues annually. Applicants engaging in the following activities are
- Self Insurance, Risk Retention/Risk Purchasing Group
- Consulting or Risk Management Work
- Claims Administrators
- Entities acting principally as Wholesalers or MGAs
- TPAs or Reinsurance Brokers
- Actuarial Services, Tax Advice or Real Estate
Agents’ Advantage can assist you in place your E&O with carriers that provide:
- Wide Array of Liability Limits
- Full Range of Retention Options from $2,500 to $25,000
- Worldwide Coverage (As long as suit is brought in the U.S., its territories and possessions, or Canada.)
- Extended Reporting Period provision available.
- Multiple Payment Options
- Online Risk Management Tools
The P&C Agents E&O policy can be enhanced to include the following:
- Life and Accident/Health – Expands coverage to include incidental placement/servicing of Life/A&H products. In order to qualify, total commissions generated from Life/A&H activities cannot exceed 30% of total annual revenues.
- Identity Theft Coverage – Included on all policies.
How can I get an application?
We have a unit of trained professionals established specifically to meet the E&O needs of our Property and Casualty members. Request an Errors and Omissions application today via one of the two following methods: