Big I Maryland - E&O Insurance

ERRORS & OMISSIONS INSURANCE

We realize that protecting the future of your agency is a major priority. As your Association, we also want to provide you with the security of knowing that you are getting the best overall E&O value in the marketplace – not just a policy, but a comprehensive program. Our members have access to broad coverages at competitive pricing through our E&O insurance program.

CARRIERS & COVERAGE

For 35 years, the Big "I" Professional Liability Program underwritten by Westport Insurance Corporation, a member of Swiss Re Corporate Solutions (rated A+ Superior by AM Best), has been the premiere choice of IIABA member agents for insurance agents and brokers E&O insurance. We offer not just a policy, but a comprehensive program for insurance agents. Our member agents and brokers nationwide look to the program for stable rates and a long-term market that they can rely on to protect their greatest assets--their businesses. This program is exclusive to Big "I" members only.

Working with our partners at Swiss Re Corporate Solutions, we have created one of the strongest coverage forms in the marketplace.

GET A QUOTE

COVERAGE HIGHLIGHTS

Review our policy form and you will see these are just a few of the coverage benefits of the Swiss Re policy:

Coverage for the sale of both Property/Casualty and Life and Health insurance products
Limits of liability up to $30 million
Broad definition of covered professional services and activities
Comprehensive definition of who is an insured
Aggregate deductibles
Defense cost outside the limits
Available first dollar defense
Full prior acts available
No contractual liability exclusion
Coverage for punitive damages (where available by state)
Multiple extended reporting period options
True worldwide protection
Coverage for advertising, libel and slander
Catastrophe Expense $25,000 per policy period
Subpoena Coverage $10,000 per policy period
1st Party Personal Data Breach (Cyber) $25,000 per policy period
3rd Party Personal Data Breach (Cyber) $1,000,000 sublimit
Deductible reduction up to $12,500 per claim for risk management activities

COVERAGE BENEFITS

The only P/C insurance agents and brokers E&O program in the marketplace that contributes a percentage of every premium dollar to the funding of important advocacy efforts of the IIABA.

State associations that serve to assist you should a claim arise
An exclusive policy form and premium credits filed on a Risk Purchasing Group basis to give Big I members coverage tailored to their needs
Competitive pricing supported by a critical mass of premium volume to maintain rate stability
A partner in Swiss Re Corporate Solutions, a member of the Swiss Re Group, rated A+ Superior by AM Best
Loss prevention materials to reduce the chance of a claim and improve business processes
E&O Risk Management Website
E&O Claims Advisor, a periodic E&O risk management newsletter available only to Swiss Re policyholders, providing valuable information to all positions in the agency
A Professional Liability Committee comprised of IIABA member agents to oversee and recommend enhancements to the program to meet the ever-changing needs of agents

REDUCE YOUR EXPOSURE TO AN E&O CLAIM & SAVE MONEY

Learn how to save up to 20% on your agency's E&O premium by taking advantage of risk management premium credits! Swiss Re Corporate Solutions has a risk management credit program that allows your agency to save up to 20% on your E&O premium. Credits are applicable for two consecutive policy terms.

RISK MANAGEMENT PREMIUM CREDITS

Complete an E&O Risk Management Class for a 10% Credit

A 10% credit on your Westport E&O premium may be earned by attending an approved 3-hour risk management seminar prior to your policy anniversary (or within 30 days after your policy inception/renewal date). The number of agency staff required to attend is based on agency size. The credit is applicable for two consecutive policy terms. To determine your specific requirement, refer to the chart below.

Agency Staff Size	Total Required Attendees
1-4	1
5-11	3
12+	25% of staff (max 15 sttendees)
*Part time = 1 staff count	*At least 1 active owner/partner must attend

Earn Additional Credits

Earn an additional 10% discount by completing two of the three options listed below. The following additional credits are available, up to a maximum total risk management credit of 20 percent:

➤ 50% or more of staff attendance = 5% credit available

➤ Agency use of a coverage checklist = 5% credit available

➤ Voluntary website review by an approved reviewer with findings implemented = 5% credit available