Minimizing an insurance producers E&O exposure due to an insurers insolvency has been a longstanding concern for agents and brokers. See an overview of the risks as well as tips on how to avoid them.
Placing a client's risk with a carrier that you trust will be there when a claim must be paid should be the paramount concern of every agent and broker.
Producers can add value to their services by helping clients understand the implications of the economic and political climate relative to their insurance needs.
CalSurance, a division of Brown & Brown, has partnered with Senior Market Sales Inc., an independent marketing organization, to offer agents' E&O at discounted rates. The initial enrollment period launched Feb. 2.
Quadrant Insurance Managers Inc. is offering an expansion of their ProSLIP professional liability product that will offer E&O coverage for small retain insurance agents and brokers. This is offered in an exclusive agreement with Century Insurance
A basic duty of an insurance agent or broker is to provide requested coverage within a reasonable time period, but the duty doesn't exist until the producer agrees to procure the coverage, a court
During the hard market of 2001-2004, insurance agencies saw errors and omissions claims increase by roughly 25%. One theory is that as carriers tightened coverage terms and conditions or completely withdrew from