Boardwalk Insurance Group

Insurance Brokers and Agents E&O Insurance

Insurance Brokers and Agents E&O Insurance 4.33/5 (86.67%) 3 votes

Let’s face it, everyone is human and everyone makes mistakes.  However, simple mistakes can have very large repercussions.   To protect insurance brokers and insurance agents from the effects of any errors or omissions that may be overlooked while working with their customers.

Error and omissions insurance combats the ever-increasing liabilities associated with the service industry, with insurance brokers and agents included.  Something as simple as a misprinted name or a misplaced number can have drastic effects on an insurance policy for the insured party, but e&o insurance can protect the insurance brokers or agents from any damages and negative effects on their work.

Target Clients

-      Agent/Broker with up to 100mil in Premium volume

-      Clean claim record

-      No MGAs, Reinsurance Brokers, or distressed firms

Capabilities

-      Duty to defend wording

-      Softened Hammer Clause

-      Carve-back for Punitive Damages, where insurable by law

-      Automatic coverage for Independent Contractors

-      True worldwide coverage

-      Optional coverage to include defense costs in Addition to Limits of Liab.

-      Lloyd’s paper – rated A (Excellent) by AM Best

-      Coverage for carrier insolvency rated A- or better at the time of placement

Limits Available

-      Primary Limits to 5mil; Excess capacity available

-      Min premium $1,500

-      Min deductible $1,000

Quoting Process

We can provide initial terms with any completed app.

Required to bind:

-      Fully completed, signed and dated application

-      Risk Management details if there are claims