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Coverage Highlights:
Working with our partners at Westport, we have created one of the strongest coverage forms in the marketplace. Structured using a modular approach, our policy provides solid core coverage as well as coverage units to insure against other exposures of concern. Review our policy form and you will see these are just a few of the coverage benefits of the Westport policy:
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• Coverage for the sale of both P/C and Life and Health insurance products
• Limits of liability up to $15 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
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• Coverage for punitive damages
(where available by states)
• Multiple extended reporting period options
• True worldwide protection
• Coverage for advertising, libel and slander
• Available coverage units:
*Employment Practices Liability
*Real Estate Agents E&O
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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 Westport Insurance Corporation, a member of the Swiss Re Group, rated "A+ Superior” by A.M. Best.
• Loss prevention materials to reduce the chance of a claim and improve business processes.
• An exclusive comprehensive risk management website including practical information and tools to help your agency avoid E&O claims – www.independentagent.com/EOhappens.
• E&O Claims Advisor– a quarterly E&O risk management newsletter available only to Swiss Re policyholders, providing valuable information to all positions in the agency.
• A Professional Liability Committee of IIABA member agents to oversee and recommend enhancements to the program to meet the ever-changing needs of agents.
Coverage Highlights and Benefits: Fireman’s Fund
Coverage Highlights:
With over 25 years experience, Firemen’s Fund is a dedicated, experienced insurer of Insurance Agents’ needs – yesterday, today and tomorrow.
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• New State-of-the Art coverage form
$10,000/$25,000 Catastrophe Claims Extra
• Expense included with no additional premium charge
• $25,000 Regulatory Investigation Defense Expense Coverage
• 90 days after end of Policy Period to report claims and purchase Extended Reporting
• Supplementary Payments of $250 per day, no policy limit, including state regulatory investigations
• Training, Managing and Supervising regarding Covered Products
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• Immediate predecessor firm coverage
• Deductible options – loss only or loss and claims expense
• Aggregate deductible applies
• Claims-made
• Defense outside of limits
• Broad definition of Who Is An Insured, including • Spousal Liability
• Limits available to $10 million
• Retroactive Coverage and Extended Reporting Periods
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Coverage Benefits:
• iCustomer Series® and Loss Prevention support - Click here to access
• Heritage program contribution
• A. M. Best rating of “A” (Excellent)
• Dedicated, centralized claims expertise with multi-line background
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