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Big "I" Professional Liability Program
Your Trusted Source for Insurance Agents and Brokers E&O, Available Nationwide.
For Profit Programs
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Westport (Swiss Re)
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For 25 years, the Big "I" Professional Liability Program underwritten by Westport Insurance Corporation, a member of the Swiss Re Group (rated A+ Superior 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 offers not just a policy, but a comprehensive program for insurance agents. Over the past two decades the Big “I” Professional Liability Program, underwritten by Westport Insurance, 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.
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Fireman’s Fund: An Additional Insurance Agent’s E&O Market
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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.
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Trust Our Strength
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We realize that protecting the future of your agency is a major priority. You trust us to represent your interests at the highest political level and as your association we also want to provide you with the security of knowing you are getting the best overall E&O value in the marketplace—not just a policy, but a comprehensive program.
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Coverage Highlights and Benefits
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Coverage Highlights and Benefits: Westport (Swiss Re)
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Coverage Highlights:
Working with our partners at Westport, 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 Westport policy:
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• 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
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• 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
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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 Westport Insurance Corporation, a member of the Swiss Re Group, rated "A+ Superior” 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 management 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.
Coverage Highlights and Benefits: Fireman’s Fund
Coverage Highlights:
With over 25 years experience, Firemen’s Fund is a dedicated, experienced insurer of Insurance Agents’ needs – yesterday, today and tomorrow.
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• New State-of-the Art coverage form
$10,000/$25,000 Catastrophe Claims Extra
• Expense included with no additional premium charge
• $25,000 Regulatory Investigation Defense Expense Coverage
• 90 days after end of Policy Period to report claims and purchase Extended Reporting
• Supplementary Payments of $250 per day, no policy limit, including state regulatory investigations
• Training, Managing and Supervising regarding Covered Products
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• Immediate predecessor firm coverage
• Deductible options – loss only or loss and claims expense
• Aggregate deductible applies
• Claims-made
• Defense outside of limits
• Broad definition of Who Is An Insured, including • Spousal Liability
• Limits available to $10 million
• Retroactive Coverage and Extended Reporting Periods
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Coverage Benefits:
• iCustomer Series® and Loss Prevention support - Click here to access
• Heritage program contribution
• A. M. Best rating of “A” (Excellent)
• Dedicated, centralized claims expertise with multi-line background
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Sample Policy Forms and Applications
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Westport (Swiss Re):
The Westport policy is designed using a set of general terms and conditions and coverage modules. This allows Westport the flexibility to effectively react to the coverage needs of member agents.
Sample Policy Form:
General Terms
E&O Coverage Unit
Application:
To apply for coverage, complete the Insurance Agents and Brokers Professional Liability application and forward it to the appropriate state association contact, who will contact you once the application has been received. Our application is also posted for your completion and return. The application forms are in an Adobe Acrobat Portable Document Format (PDF) to give your application a professional and clean appearance. Viewing and completing the forms requires the free Adobe Reader program which can be downloaded from www.adobe.com.
Insurance Agents and Brokers Professional Liability application
IMPORTANT NOTE: Unless you have Adobe Acrobat software, you will not be able to save the completed application. When completed immediately print a copy and fax the application to your state association contact.
Fireman’s Fund:
The Fireman’s Fund policy offers broad coverage tailored to insurance agencies.
Sample Policy Form:
FFIC Policy Form
Application:
To apply for coverage, complete the Fireman’s Fund Insurance Company Independent Insurance Agents application electronically and email it to the appropriate state association contact, who will contact you once it is received. This application is a pdf form that MUST be completed by typing the information directly into the form, saved locally, then after completion digitally signed and sent via email to the state association contact. Viewing and completing the form requires the free Adobe Reader program which can be downloaded from www.adobe.com. If you have any questions completing this pdf form, please contact your state association.
Fireman’s Fund Insurance Company Independent Insurance Agents Application
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