Like the rest of the commercial insurance sector, the market for errors and omissions coverage to protect agents and brokers continues to show signs of softening. But that does not mean producers can afford to ignore proper loss control procedures to avoid a minefield of potential exposures and continue to keep their premiums affordable, leaders in the field warn.
Capacity remains plentiful and terms are still flexible, according to Joseph Schneider, professional liability manager for Jimcor Agencies in Montvale, N.J., but that all depends on the risk. "Good loss accounts get what they want," he noted.
However, agents with difficult or hazardous niche practices can still face an obstacle course in getting all the coverage features they might want.
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