Allianz has announced a new enchanced E&O policy form exclusively for IIABCal members. This form is now one of broadest coverages available to Independent Insurance Agents in the market place. Our appetite has been expanded to include P&C agencies with revenues from $25,000 to $15,000,000. Incidental Life & Health and Employee Benefit Administration activities are now eligible.
We consider each account on their own operation, individually underwriting and priced to ensure that you are covered for the need of your agency and at a price that reflects the way you do business.
Coverage Highlights:
- Admitted/A+ A.M. Best rated
- Claims Made
- 1st Party Personal Data Compromise Coverage - $50,000 of coverage with optional higher limits available
- Coverage for the sale of both P&C and L&H included.
- Broad definition of covered Professional Services
- Loss control and Risk Management services coverage
- First Dollar Defense available
- Worldwide Coverage*
- Full Prior Acts available, if eligible
- Policy limits up to $10,000,000
- Employee Benefit Plan Administration activities coverage
- Employee Practices Liability available by endorsement, if eligible
- Damages include attorney’s fees and costs that may be awarded
- Automatic 90 day coverage for acquisitions
- Regulatory defense costs up to $500 per day
- Specialized experience in claims settlement
New Payment Options
There are also two new payment options available: 10 payment plan and, for your convenience, Electronic Fund Transfer. With Electronic Fund Transfer you no longer need to worry about making timely payment instead just sign up linking your checking account and payments will be withdrawn from your accounts when due.
Underwriting Requirements:
- Three years industry experience required
- Retail P&C agency with incidental LAH activites
- Limited placement through others or low/non-rated carriers
Submission requirements:
- We can provide an indication based on most current E&O application. If accepted, a full AGCS application and supporting documents would be required
- Current five (5) year loss runs.
- Resume of principals IF entity has been established less than three (3) years.
Contact Information
Michael O’Hearn
Cooper & McCloskey, Inc.
111 Pine Street, Suite 1530
San Francisco, CA 94111
415-321-1098 (direct)
415-433-7707 (fax)
michael@cmiprorisk.com
www.cmiprorisk.com
*Coverage is not provided in foreign countries where not permitted by law.
All descriptions of coverage are subject to the terms, conditions and exclusions of the individua policy.
More Information
E&O Underwriting Guidelines
Frequent Asked Questions
Member Application
Bond Supplemental
Additional Entity Supplemental
Claim Supplemental
Crop Supplemental
EPL Supplemental
Financial Products Supplemental
PEO Supplemental
Data Compromise Supplemental