| Swiss Re: A Trusted Partner |
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(Rated A "Excellent" by A.M. Best)
For 25 years, the Big "I" Professional Liability Program underwritten by Westport Insurance Corporation, a member of the Swiss Re Group, 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 Corporation, a member of the Swiss Re Group, has grown into the largest and most stable insurance agents E&O program in the nation.
While other carriers have come and gone from the E&O marketplace, Westport has remained a strong, reliable partner for Tennessee's agents.
Stability: Swiss Re has remained in the agents E&O market for over 25 years through soft and hard markets.
Strength: Rated A "Excellent" by A.M. Best and offering the strongest coverage form in the market
Teamwork: Administered by your association staff offering your agency what you offer your clients, choice and advocacy.
For information, contact our E&O Department at 866-515-2609 or e-mail ppelt@insurors.org
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| Fireman's Fund |
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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.
For information, contact our E&O Department at 866-515-2609 or e-mail ppelt@insurors.org.
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| Doran Excess Underwriters |
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A surplus lines policy written by United National Ins. Co. for agencies that do not fit Westport's guidelines.
Doran offers coverage (with limits of up to $5 million on a primary basis and $15 million on an excess basis) for agencies: seeking high limits; writing sub-standard auto or property business; who broker business, place business in unrated carriers or place business in non-admitted carriers; surplus lines agents, wholesalers and managing general agents.
For information, contact our E&O Department at 866-515-2609 or email ppelt@insurors.org.
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| U.S. Risk Underwriters |
| A policy written by Lloyds of London and their syndicates.
U.S. Risk is a good market for a start-up agency to look for E&O coverage.
For information, contact our E&O Department at 866-515-2609 or email ppelt@insurors.org.
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RISK MANAGEMENT WEBSITE
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 website.
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.
http:www.iiaba.net/EOHappens
E&O CE Courses can be found at http://www.insurors.org/AM/Template.cfm?Section=PDS&Template=/custom/meetings/meetings.cfm&code=PDS
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 to be written over a variety of E&O carriers
Contact us for a quote today.
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. Distributed through your local Big "I" association 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.
Here's how it works -
1. Your agency selects a person within your office to be the Agency Shield Program™ champion. He/she will be the primary contact for the program and will be responsible for making sure all activities have been completed.
2. Based on the information within your registration application, the ASP™ survey will be customized according to your business profile. The survey asks questions about your agency's policies and procedures relative to automation, documentation, processes and workflows; claims, audits, training and education, licensing and administration and human resources.
3. The agency champion oversees the completion of the ASP™ survey, and once finished, returns it to the ASP™ accreditation center at Swiss Re.
4. The survey responses are compared with best practices of agencies of similar sizes and operations. Differences are outlined in a project tracking sheet that contains recommendations on better ways to manage a particular activity.
5. The ASP™ Coordinator at Swiss Re keeps tabs on your progress and is there to assist you with any questions or roadblocks you run into. We recognize that you have an agency to run so these activities are designed to be completed while continuing to handle your daily business. All activities can be delegated as appropriate and do not need to be completed in their entirety by the agency champion.
Program Features
• Detailed and systematic review of agency operations
• Focuses on reduction of E&O exposures
• Helps agencies avoid the direct and indirect costs associated with having an E&O claim, such as deductibles, loss of credits, loss of productivity and stress of being involved in a claim
• Assists you in establishing standards across all agency activities
• Helps to develop benchmark processes for new hires
• Template for training your staff in the important area of customer service and potential agent liability
• Potential for a 10% premium credit good for three years to participating agencies who complete ASP™*
* Subject to State Department of Insurance approval
HOW TO PURCHASE
To purchase the Agency Shield Program, contact Paul Pelt by e-mailing ppelt@insurors.org
WEBINAR PRESENTATION
This webinar was brought to you in conjunction with Swiss Re Academy.
Swiss Re Academy is the strategic learning partner within Swiss Re for internal clients to develop talent and to achieve cultural and organizational excellence, and with external clients to strengthen our business relationship.
WEBINAR SLIDES
Click on the image above to view the slides from the 2/25/09 ASP Webinar.
DEMO
Want to take a closer look at the ASP survey process to understand what your agency will be completing? Click the image above to view a demo of a sample module on "Binding Authority."
BROCHURE
Click the image above to view our brochure (PDF).
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:
| Agency Size (per state) |
Annual Subscription Price |
Four Year subscription price (best value!) |
| Up to 15 users per agency |
$250 |
$750 |
| More than 15 per agency |
$500 |
$1500 |
To see the VRC in action, click here to experience a limited demo.
Claims data for the Big “I” Professional Liability Program reveals that about 40% of claims involve the agent failing to procure coverage and failing to adequately identify exposures. The Commercial and Personal Line Risk Analysis System on the VRC assists producers and CSR’s. How?
1. By helping them understand the exposure of businesses in more than 650 different industries, including recommended minimum coverages.
2. By allowing them to create and print comprehensive questionnaires to collect the information necessary to complete ACORD applications.
3. By providing them a comprehensive list of coverages with succinct definitions to enhance understanding at the point of sale.
4. By offering important customer file documentation in the form of a comprehensive checklist of coverages offered, accepted, rejected or not applicable which is signed by the customer and stored in the file.
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