E&o coverage

For over 35 years, the Big “I” Professional Liability Program, underwritten by Swiss Re Corporate Solutions America Insurance Corporation (A+ Superior, AM Best), has been the premier E&O choice for independent insurance agents and brokers nationwide.

• Coverage for the sale of both Property/Casualty and Life and Health insurance products
• Limits of liability up to $30 million
• Broad definition of covered professional services and activities
• A 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 state)
• Multiple extended reporting period options
• True worldwide protection
• Coverage for advertising, libel, and slander
• Catastrophe Expense $25,000 per policy period
• Subpoena Coverage $10,000 per policy period
• 1st Party Personal Data Breach (cyber) $25,000 per policy period
• 3rd Party Personal Data Breach (cyber) $1,000,000 sublimit
• Deductible reduction up to $12,500 per claim for risk management activities
• 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.
• Competitive pricing supported by a critical mass of premium volume to maintain rate stability.
• A partner in Swiss Re Corporate Solutions, a member of the Swiss Re Group, rated A+ Superior by A.M. Best.
• Loss prevention materials to reduce the chance of a claim and improve business processes.
• E&O Risk Management website
• E&O Claims Advisor, a periodic E&O risk management newsletter available only to Swiss Re policyholders, provides valuable information to all positions in the agency.
• A Professional Liability Committee comprised of IIABA member agents to oversee and recommend enhancements to the program to meet the ever-changing needs of agents.  

With more than 25 years of experience, Allianz is an industry leader in providing E&O liability coverage for agents and brokers – one of the biggest issues they face in an increasingly complex world. The company is one of the largest writers of agents E&O coverage in the country.

Coverage Highlights and Benefits:

• True worldwide coverage
• 10% (Some states offer 15%) Premium credit for two years for attending an approved loss control class
• Rated A+ by AM Best
• Claims made coverage with full prior acts
• Coverage for the sale of both Property/Casualty and Life/Health insurance products
• Insolvency coverage for all carriers with a B+ or better A.M. Best rating
• Limits of liability up to $5M/$5M or $3M/$6M
• 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 first-party personal data compromise breach response for the accidental loss of client data, with optional higher limits available 
• *Optional – for additional premium
• 80/20 Consent to settle clause
• Full prior acts available
• Deductible waived if insured is claims-free with Allianz for five or more years
• Catastrophe – $25,000/$50,000 per catastrophe/per policy period 
• Regulatory investigation – $60,000 per policy period