Just as you counsel your clients to carry appropriate protection on their businesses, it’s important that you do so yourself. Errors and omissions insurance for insurance agents and brokers is a critical component of coverage for to protect you against incidents and claims that can have a significant impact on your business.
Your policy should be tailored to your unique needs. This type of coverage can help you with a variety of challenges, including:
- Contingent BI/PD (Bodily Injury/Property Damage)
- Adverse Loss History (Insurance Claims)
- Administration of ERISA Plans
- HIPAA Compliance
- Insolvency Coverage
Know Your Exposure
The list above highlights just a few of the areas where additional coverage could be critical for you. Before choosing an E&O policy, a broker should conduct a thorough needs and risk assessment to determine what coverage will give you the protection you need against possible incidents and claims.
Minimize Your Risks
As you know, the ultimate value of any insurance lies in its power to help you stay the course. A significant claim against you, insufficiently covered, can wipe out savings, even jeopardize your business. Errors and omissions insurance for insurance agents and brokers gives you the coverage you need, and the peace of mind that comes from knowing you’re protected.