In clear recognition of the complex liability exposures that are part of doing business in today's world, more than 96 percent of independent insurance agents and brokers responding to a recent online survey said they carried agency E&O insurance. Additionally, more were carrying more comprehensive coverages, including prior acts (69 percent), first-dollar defense (58 percent), aggregate deductibles (51 percent), carrier insolvency (50 percent) and defense outside the limit (47 percent).

The survey, conducted by American Agent & Broker as part of its May "Agency E&O" issue, was conducted online in April. More than 500 readers completed the survey.

Although many agencies may have responded to the soft market and recession with cutbacks in some areas, survey results suggest that agency E&O wasn't one of them. Only 17 percent of respondents reported changing their E&O coverage over the past year, while almost 80 percent did not.