Error & obligation coverage is basic for just about every kind of business, but the specific incidents covered can vary a lot from industry to industry. That’s why it’s best to advise clients to work with an agent who understands their field. E&O insurance for insurance agents is no different, it’s best when it’s designed by people who really understand the industry, the commitments we make to our clients, and the exposure agents and brokers face as they help connect individuals and businesses to the carriers that work best for their needs.
Claims and New Coverage
It’s not exactly a secret that E&O coverage can be hard to find if you’ve filed a claim with a previous insurer, but there are changes coming. According to Axis Insurance, there are programs like theirs built just for companies who have claims on their records. Insurance is meant to be there for you when the unexpected happens, so you’re not short on resources while you recover. No one should be punished for having to use a product after buying it, especially not the people whose job it is to act as ambassadors for the profession. If you’re looking for new coverage and you’re having trouble finding competitive rates, look for an insurer whose commitment is to providing coverage to agents like yourself, and see what’s out there to help keep you moving forward.