Seasoned insurance agents have seen just how many different kinds of claims can be filed against individuals and businesses. These experienced professionals know how important E and O insurance for insurance agents can be to the continued success of their agency.
Errors and Omissions Insurance
Errors and omissions insurance is a kind of insurance policy designed specifically to cover professionals who offer services. Everyone from accountants to architects to hairstylists have errors and omissions exposure that can be protected by an E and O policy. E and O insurance for insurance agents protects those agents in the event that a client claims they have suffered physical or financial harm as a direct result of advice they received from an insurance agent or as a result of an insurance policy they purchased from that agent. In general, E and O coverage will not only include any settlements but will also pay court costs associated with the case in question.
Colleagues Can Help
When shopping for an E and O policy for an insurance agency, it is best to solicit quotes from brokers who have direct experience working with the kinds of claims insurance agencies are most likely to have filed against them. Again, insurance agents should know best that only by choosing an experienced agency will they get the best price and the best coverage for them.