Insurance Agents & Brokers E&O

When an Errors & Omissions claim occurs, the file, for the most part, will heavily determine the direction the claim goes. The key for agents is to proactively take the initiative to implement various loss control measures that could impact the direction an E&O claim could go before it occurs.

Key points you should look for when you are shopping for E&O policy:

• Consent-to-settle
• Contractual and vicarious liability
• Data compromise
• First dollar defense
• Full prior acts
• Innocent insured (for fraudulent or dishonest acts)
• Insurance carrier insolvency
• Insured vs. insured (for personal lines placements)
• Personal and advertising injury for professional services
• Punitive damages
• Vicarious fiduciary liability
• Expenses inside the limits or outside
• Professional services extra expense coverage