E&O Insurance for P&C Agents

Coverage Details for $751 & $840

Comprehensive general liability policies, homeowners policies, automobile policies, workers compensation or employers liability policies, directors and officers liability policies, and employment practices liability

Coverage Details for $1,496 & $1,697

Comprehensive general liability policies, homeowners policies, automobile policies, workers compensation or employers liability policies, directors and officers liability policies, and employment practices liability

+ Expanded Definition of Professional Services

An expanded definition of professional services is offered for an additional premium and includes the above listed insurance products, as well as the following:

Surety bonds, professional liability policies, business owners package policies, commercial package policies, personal property policies, crime policies, standard and nonstandard fire policies, umbrella policies, business interruption policies, dwelling policies, and personal recreation vehicle policies.

Overview

Provides protection for licensed Insurance Agents for wrongful acts in the rendering of or failure to render professional services in connection with selling or servicing the following property and casualty insurance products: comprehensive general liability policies, homeowners policies, automobile policies, workers compensation or employers liability policies, directors and officers liability policies, and employment practices liability.

An expanded definition of professional services is offered for an additional premium and includes the above listed insurance products, as well as the following: surety bonds, professional liability policies, business owners package policies, commercial package policies, personal property policies, crime policies, standard and nonstandard fire policies, umbrella policies, business interruption policies, dwelling policies, and personal recreation vehicle policies.

Insureds include the Insurance Agent, a business entity owned or controlled by the Agent and secretarial, clerical and administrative personnel acting on behalf of the Agent. A separate Certificate of Insurance with a separate Limit of Liability is issued to each Agent.

Limits of Liability

$1,000,000 each claim
$1,000,000 all Claims under each Certificate of Insurance

-OR-

$1,000,000 each claim
$2,000,000 all Claims under each Certificate of Insurance

$10,000,000 total policy aggregate for all Claims under all Certificates of Insurance (for all non-New York Insureds)

Retention

$7,500 each Claim

Additional Features Include:

• Competitive rates
• Prior Acts Coverage going back to the first continuous E&O policy issued to the Agent
• A 365 day extended reporting period available for purchase within 30 days of the expiration date if either Insured or Insurer cancels or non-renews; the cost is 150% of the annualized premium
• Quick and easy online enrollment and renewal, with Certificate of Insurance available online upon satisfactory confirmation of premium payment
• Coverage extended to spouses, domestic partners, estates, heirs or legal representatives for claims arising out of their status as such
• Policy non-cancelable by Insurer except for non-payment of premium
• Broad definition of Claim includes written demands and civil proceedings for monetary damages

Plan Eligibility

Coverage is subject to favorably answering all qualifying questions on the application.

Underwritten by:

Everest National Insurance Company, together with its insurance company affiliates, represents the primary insurance arm of Everest Re Group, Ltd., a Bermuda holding company and world leader in property and casualty reinsurance and insurance, offering innovative products, responsive service, and unsurpassed financial strength. Financial and business highlights of Everest Re Group, Ltd. include:

• ***$17 billion of total assets (as of December 31, 2016)
  
• ***Everest Re Group companies are rated A+ XV (Superior) by A.M. Best and A+ (Strong) by Standard & Poor’s
• Claims professionals with extensive technical knowledge and professional liability claims experience

Administered by:

Mercer Consumer, a service of Mercer Health & Benefits Administration LLC. Mercer is a global consulting leader in talent, health, retirement, and investments. Mercer helps clients around the world advance the health, wealth, and performance of their most vital asset—their people. Mercer’s 20,500+ employees are based in more than 40 countries. Mercer is a wholly subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy, and human capital.

This highlights sheet, which has been prepared by Mercer Consumer, contains a summary of the insurance certificate provisions. In the instance of conflict between this sheet and the actual certificate, the insurance language will prevail and control. See the policy for complete list of coverage and exclusions at eo2017.staging.wpengine.com.

Disclaimer: One or more of the Everest companies provide the products and/or services described. The information is intended to present only a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice.

This specimen policy is valid for effective dates of 12/1/17 and after.

Property and Casualty Policy Specimen PDF