Members of the Independent Insurance Agents & Brokers of America have signed an agreement with Swiss Re's Commercial Insurance to continue as the IIABA-endorsed carrier for agents' errors and omissions coverage.
The Overland Park, Kan.-based insurer, a subsidiary of Zurich-based reinsurer Swiss Re, said it signed the agreement with the Alexandria, Va.-based association for five years as the endorsed E&O carrier for the IIABA.
"Our affiliation with Westport and Swiss Re's Commercial Insurance allows us to offer independent agents unparalleled protection and loss control," said Mark Wolf, associate vice president and head of the IIABA Professional Liability Program. "We are extending our relationship with Swiss Re Commercial Insurance for five years because of the strength of our relationship as well as the depth of expertise and financial strength they bring to the table."
Robin Sterneck, head of Swiss Re's Commercial Insurance, said: "Our parent, Swiss Re, is committed to protecting the reputations and assets of the nation's best independent agents, and this agreement underscores that commitment. We look forward to providing innovative solutions to the [IIABA] and its members and continuing to grow with them."
Under the agreement, Swiss Re's Commercial Insurance continues to offer coverage terms and loss control credits that are exclusive to members of IIABA.
Policies are underwritten by Westport Insurance Corporation and are backed by Swiss Re's financial strength and "A-plus" (Superior) A.M. Best rating.
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