Program Advantages
Allianz offers an E&O policy form which is one of the broadest available to Independent Insurance Agents. Eligibility has been expanded to include agencies selling P&C products as well as LA&H products with annual revenues up to $10,000,000.
Allianz considers each account on its own operation, individually underwriting and pricing to ensure that you are covered for the needs of your agency.
Coverage Highlights:
- Admitted/A+ A.M. Best rated
- Claims Made1st Party Personal Data Compromise Coverage, if eligible
- Broad definition of covered Professional Services
- Loss Control and Risk Management services coverage
- First Dollar Defense available
- Worldwide Coverage, where such coverage is legally permissible
- Full Prior Acts available, if eligible
- Policy limits up to $5,000,000
- 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
- Deductible waiver if no claims for 5 years and continuous coverage with Allianz
- Automatic 90-day coverage for acquisitions
- Supplementary payments such as expense reimbursement and regulatory defense
- Specialized experience in claims settlement
Allianz policyholders can also get a 10% flat discount if they take an approved ABEN class.
Underwriting Requirements:
- Three years industry experience required
- Retail P&C agency with incidental LA&H 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 to finalize terms
- Current five (5) year loss runs
- Resume of principals IF entity has been established less than three (3) years
All descriptions of coverage are subject to the terms, conditions and exclusions of the individual policy.