The hard insurance market has many retail agents increasingly looking to your wholesale operation for E&S markets for hard-to-place risks, high-hazard risks, and coverages that are now difficult to place as carriers limit capacity and retreat from various industries and product lines. The hospitality industry, hard hit by COVID, for example, is increasingly hard to place with agents turning to you for your market access. A difficult market for Commercial Auto, Excess/Umbrella, Professional Liability, D&O, and EPLI has you busy with new and renewal submissions as you work to negotiate with your network of carriers to place business on behalf of your agents. The renewal process is taking longer as a result of tighter underwriting and greater scrutiny and the remote work environment brought on by the pandemic. Your operation is busy and that’s great! But things can go wrong as you know.
IPRO-Agency Insurance Services provides insurance wholesalers with customized Errors & Omissions (E&O) coverage to protect against lawsuits in the event of allegations of an error or oversight in the course of the professional services you offer. Coverage terms and limits are designed to reflect your operation’s exposures.
An E&O policy provides coverage related to professional mistakes, failure to deliver promised insurance services, and accusations of professional negligence. We can design an E&O policy to include the following