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Wednesday, 09/03/2014email print

INSURANCE COVERAGE FOR YOUR AGENCY

 


See Text Below for:
Liability Underwriters:
Swiss Re / Westport
Fireman's Fund
RISK MANAGEMENT WEBSITE
RLI & COMMERCIAL UMBRELLA
AGENCY SHIELD
GROUP HEALTH AND DISABILITY COVERAGE
VIRTUAL RISK CONSULTANT

 For Agency Shield Information and
information/quote on E&O and Liability Insurance contact:
Independent Insurance Agents of SD
E&O State Administrator--Carolyn Hofer
Pierre, South Dakota
605-224-6234


Swiss Re: A Trusted Partner
For 25 years, the Big "I" Professional Liability Program underwritten by Westport Insurance Corporation, a member of the Swiss Re Group (rated A Excellent by A.M. Best), has been the premiere choice of IIABA member agents for insurance agents and brokers E&O insurance. The Big “I” Professional Liability Program has grown into the largest and most stable insurance agents E&O program in the nation. Our member agents and brokers nationwide look to the program for stable rates and a long-term market that they can rely on to protect their greatest assets—their businesses.

 Coverage Highlights: Working with our partners at Swiss Re, we have created one of the strongest coverage forms in the marketplace. Structured using a modular approach, our policy provides solid core coverage as well as coverage units to insure against other exposures of concern. Review our policy form and you will see these are just a few of the coverage benefits of the Swiss Re policy:

  • Coverage for the sale of both P/C and Life and Health insurance products
  • Limits of liability up to $15 million
  • Broad definition of covered professional services and activities
  • Comprehensive definition of who is an insured
  • Aggregate deductibles
  • Defense cost outside the limits
  • Available first dollar defense
  • Full prior acts available
  • No contractual liability exclusion
  • Coverage for punitive damages (where available by states)
  • Multiple extended reporting period options
  • True worldwide protection
  • Coverage for advertising, libel and slander
  • Available coverage units:
  •  *Employment Practices Liability
  •  *Real Estate Agents E&O 

Coverage Benefits:

  • The only P/C insurance agents and brokers E&O program in the marketplace that contributes a percentage of every premium dollar to the funding of important advocacy efforts of the IIABA.
  • State associations that serve to assist you should a claim arise.
  • An exclusive policy form and premium credits filed on a Risk Purchasing Group basis to give Big "I" members coverage tailored to their needs.
  • Competitive pricing supported by a critical mass of premium volume to maintain rate stability.
  • A partner in Swiss Re, a member of the Swiss Re Group, rated "A Excellent” by A.M. Best.
  • Loss prevention materials to reduce the chance of a claim and improve business processes.
  • An exclusive comprehensive risk management website including practical information and tools to help your agency avoid E&O claims -- www.independentagent.com/EOhappens 
  • E&O Claims Advisor - a quarterly E&O risk newsletter available only to Swiss Re policyholders, providing valuable information to all positions in the agency.
  • A Professional Liability Committee of IIABA member agents to oversee and recommend enhancements to the program to meet the ever-changing needs of agents.

Fireman’s Fund: An Additional E&O Market
With more than 25 years of experience, Fireman’s Fund is an industry leader in providing liability coverage for agents and brokers against errors and omissions. Fireman’s Fund Insurance Company is rated A Excellent by A.M. Best. This additional E&O market is available nationwide.

Coverage Highlights:  With over 25 years experience, Firemen’s Fund is a dedicated, experienced insurer of Insurance Agents’ needs – yesterday, today and tomorrow.

  • A rated carrier written on admitted paper
  • Dedicated claims staff focuses exclusively on insurance E&O claims
  • Long-standing market player in Agents E&O
  • Coverage for the sale of both P&C and L&H
  • Choice of three endorsements for sale of Financial Services Products
  • Broad definition of covered professional services and activities
  • Available first dollar defense
  • Policy limits available up to $10,000,000
  • Aggregate deductible applies
  • Expert witness testimony covered
  • Protection when you train, manage or supervise a client in the selling of insurance products
  • Market-quality Insolvency coverage
  • Broad definition of “who is an insured”
  • Retroactive coverage and multiple extended reporting periods offered
  • Three-tiered Employment Practices Liability offered by endorsement
  • $10,000/$30,000 catastrophe claims extra expense included with no additional premium
  • $35,000 regulatory investigation defense expense coverage per policy
  • Up to 60 days after end of policy period to report claims and purchase extended reporting
  • Immediate predecessor firm coverage
  • Supplementary Payments of $500 per day for expenses incurred in aiding in the defense of a claim

RISK MANAGEMENT WEB SITE
Big “I” members whose agency E&O insurance is written by Swiss Re through the Big “I” Professional Liability Program have access to an exclusive risk management web site. 

Log on today to fish for E&O claims frequency data, real-life case studies and analysis, sample client letters, sample agency procedures, agency E&O self assessments, podcasts on important E&O topics, and much more.www.iiaba.net/EOHappens

 
BIG I ADVANTAGE  RLI PERSONAL UMBRELLA PROGRAM click for info


COMMERCIAL UMBRELLA

          
 PROTECT your business with an E&O umbrella endorsed by IIABA.
               CONSOLIDATE coverages with one carrier and avoid potential gaps.
               SECURE your agency’s future with the largest writer of agents’ professional liability in the country.
               SUPPORT your state association while protecting your business.

A commercial umbrella underwritten by Swiss Re (rated A by A.M. Best) is now available exclusively to Big "I" members.
    *
Designed in collaboration with the IIABA to meet the needs of independent insurance agents.
    *Broad coverage over primary casualty lines, including E&O
    *Limits available up to $10 million over underlying primary E&O policy
    *Available nationwide
    *May be written over a variety of E&O carriers


AGENCY SHIELD PROGRAM
Swiss Re’s Commercial Insurance (underwritten by Westport Insurance), working with the Big "I", has developed an insurance agency E&O claims prevention consulting program, called the Agency Shield Program (ASP™), which is available exclusively for Swiss Re policyholders. It is designed to be an affordable and easy to implement tool to reduce E&O exposure, improve client service and build sustainable, profitable processes. Policyholders that complete the Agency Shield Program™ will receive a 10% E&O premium credit good for three years on their next renewal.

The program starts with a simple, yet comprehensive online survey about your agency's processes and current risk exposures. After completion, the ASP™ coordinators at Swiss Re will assess your survey and develop a detailed action plan that identifies areas of improvement in your current workflow procedures. The action plan includes a series of easy to implement steps and recommendations for reducing E&O exposure, strategies to ensure high-quality client service, and counsel on ensuring compliance.

The goal of ASP™ is to help your agency establish a standardized process that makes your procedures focused and efficient throughout your agency, ultimately leading to better productivity, increased profits, and reduced E&O exposure.

For Agency Shield Information and Information & a quote on E&O and Liability Insurance contact:
Independent Insurance Agents of South Dakota
E&O State Administrator--Carolyn Hofer
Pierre, South Dakota
605-224-6234


GROUP HEALTH AND DISABILITY COVERAGE
We offer members programs tailored to meet the needs of small businesses. Group Medical, Group Life, Dental, Short & Long Term Disability. 

Call 800-366-5656 to speak with a Benefit Representative:

Kelsey National Corporation

IIABA Group Insurance Trust

Kelsey National live web site for State IIABA Insurance Program:

http://www.kelsey.com/iia/assoc/verify.php 

 


THE BIG I ADVANTAGE® VIRTUAL RISK CONSULTANT

The Big I Advantage® Virtual Risk Consultant powered by Rough Notes ("VRC") is an online sales and service resource designed to help your agency better serve your customers. Using this tool will lead to increased sales by improving your staff’s knowledge of a prospect’s operation enabling them to better identify and cover customer exposures. The VRC will help your staff better understand the product they sell. It will also assist agency staff with preparing proposals, explaining complicated insurance terms, and most importantly documenting client files. It is truly a tool that will increase the professionalism of staff and help your agency grow while limiting your exposure to E&O claims.

Big "I" members have exclusive access to Big I Advantage® Virtual Risk Consultant. Similar products sell for thousands of dollars. Big "I" members enjoy a deeply discounted rate.   Click here for more information 

 

    


Independent Insurance Agents & Brokers of America, Inc.
e-mail: info@iiaba.org

127 South Peyton Street • Alexandria, VA 22314
(800) 221-7917 • (703) 683-7556 (fax)

 

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