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ProfLiability: default New products and services are selectively chosen to serve our agency members and their employees. With the IIAV advantage, members have access to a variety of insurance and non-insurance products and services tailored to meet the ever-changing needs of independent agencies.
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Professional Liability
Errors and Omissions Insurance
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.
 
With the most respected and comprehensive program in the business, IIAV offers a variety of insurance agent’s E&O products that are hand-selected for their superior reputation and exceptional performance. Through your IIAV membership, you have access to the following Professional Liability products.
 
Get an E&O Estimate:
 

1.  Errors and Omissions Insurance:


Swiss Re Corporate Solutions
 
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For 25 years, the Big "I" Professional Liability Program underwritten by Westport Insurance Corporation, a member of Swiss Re Corporate Solutions (rated A+ Superior 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 Swiss Re Corporate Solutions, 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.
 
Working with our partners at Swiss Re Corporate Solutions, we have created one of the strongest coverage forms in the marketplace.
 
Coverage Highlights:
  • Rated A+ by A.M. Best
  • State-of-the-art coverage form, exclusive to Big "I" Members
  • Claims Made Coveage
  • Coverage for the sale of both Property/Casualty and Life/Health insurance products
  • Limits of liability up to $20 million
  • Broad definition of covered professional services and activities
  • Comprehensive definition of "who is an insured"
    Aggregate deductibles
  • Defense cost outside the limit
  • $25,000 1st Party Personal Data Breach (cyber)
  • $1,000,000 3rd Party Personal Data Breach (cyber) sublimit
  • Full prior acts available
  • Deductible reduction up to $12,500 per claim for risk management, no limitation on the number of claims
  • Catastrophe Expense $25,000 per policy period
  • Regulatory defense $25,000 per policy period
  • True worldwide protection
  • 10% premium credit three years for attending an approved loss control program
  • 10% Premium Credit for five years for an having an approved in-house E&O audit

 Fireman’s Fund
 
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With more than 25 years of experience, Fireman’s Fund is a dedicated, knowledgeable insurer of insurance agents’ needs – yesterday, today and tomorrow.  Fireman’s Fund Insurance Company is rated A Excellent by A.M. Best.
 
 
Coverage Highlights:
  • Rated A by A.M. Best
  • State-of-the-art coverage form, exclusive to Big "I" members
  • Claims Made Coverage
  • Coverage for sale of both Property/Casualty and Life/Health insurance products
  • Limit of Liability up to $10,000,000
  • Broad coverage tailored to insurance agencies
  • Broad definition of who is an insured, including spousal liability
  • Aggregate deductibles
  • Defense costs outside the limits
  • $50,000 1st party personal data compromise breach response for the accidental loss of client data, with optional higher limits available
  • No 3rd Party personal data compromise
  • Full prior acts available
  • First claim deductible is waived if you have been insured and claims free with Fireman’s Fund for five or more years
  • $10,000/$30,000 (per catastrophe/per policy period) catastrophe claims extra expense
  • $35,000 regulatory investigation defense expense coverage per policy period
  • True worldwide coverage
  • 10% premium credit three years for attending an approved loss control program
  • E&O Audit credit is not available

*Applications: To apply for coverage, complete the Insurance Agents and Brokers Professional Liability application and forward it to Linda Loving at loving@iiav.com, who will contact you once the application has been received. The application forms are in an Adobe Acrobat Portable Document Format (PDF) to give your application a professional and clean appearance. Viewing and completing the forms requires the free Adobe Reader program which can be downloaded from www.adobe.com.

If you have any questions completing this pdf form, please contact us at 804-747-9300 or 1-800-288-4428.
 
Important Note: Unless you have Adobe Acrobat software, you will not be able to save the completed application. When completed immediately print a copy and fax the application to your state association contact.

2. Non Standard E&O:
If your agency doesn’t quite fit the “norm” and needs a specialty market for your insurance agents Errors and Omissions coverage, we have an array of surplus lines carriers we can access on your behalf.

3.  Excess E&O:
     - Coverage provided by First Specialty Insurance Company, a Swiss Re Company rated A+XV.
     - Maximum capacity is $10,000,000, but no greater than underlying primary limit
     -
Eligible risks include those with coverage through various agents E&O carriers