E&O Program

At Insurors we realize that protecting the future of your agency is a major priority. You trust us to represent your interests at the highest political levels 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.

Swiss Re | Fireman's Fund | A.J. Wayne | Cyber | E&O Happens | Audits | Commercial Umbrella | Virtual Risk Con.


  

Swiss Re: A Trusted Partner Rated "A+" Superior by A.M. Best

For over 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+"Superior" 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 sholmes@insurors.org 

Allianz Rated "A" Excellent by A.M. Best

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 sholmes@insurors.org

Application

Fireman's Fund Application

Supplemental Application A  Submit: For Mergers, Acquisitions and Clusters
Additional Entity Supplement
Claim Supplement
EPL Supplement
Financial Products Supplement




Alexander J. Wayne & Associates Preferred E&S Markets

In instances when an account does not fall within the underwriting guidelines of our standard markets – Swiss Re/Westport or Fireman’s Fund – we have access to numerous E & S markets through a national broker, Alexander J. Wayne & Associates, Inc.  A preferred E & S market with A.J. Wayne is First Specialty Insurance Corporation, which is also a member of the Swiss Re Group.


In addition to Insurance Agents and Brokers Professional Liability, A.J. Wayne also has facilities to write other professional liability (E&O) lines such as Financial Advisors, Title Insurance Agents, and Adjusters.

We are normally able to receive premium indications from these markets with the Westport or Fireman’s Fund applications; however, the specific company application will usually be required to bind coverage.

For information, contact our E&O Department at 866-515-2609 or e-mail sholmes@insurors.org

Applications

Use a Swiss Re or Fireman's Fund Application


Cyber Liability Data Breach Coverage
for Your Agency


Could your agency weather the storm of a cyber breach? 80% of businesses fail to recover from a breach because they do not know this answer.  Responding to a breach is a complicated process that requires the assistance from many different professionals. Failure to notify the effected individuals “without unreasonable delay” could cost your agency up to $1,500,000 in fines from government agencies. Add this to the $200,000 average cost to comply with notification laws, the legal liability and the harm to reputation caused by the breach and you can quickly see how this exposure can be devastating to your agency.

Insurors of Tennessee has partnered with Arlington/Roe, Inc. to offer our members an exclusive program to help protect their agencies from information security breaches.  This program is a holistic risk management process that will help train your staff on privacy compliance in addition to handling data breach notification and third party suits. This program offers the following benefits:

•    Available To Insurors of TN Members Only 
•    Up To 50% Off Premium
•    No Encryption Requirement    
•    Insurors Members Are Pre-Qualified For Enrollment*
•    HIPAA Compliance Tools    
•    On-Line Compliance Materials
•    Step-By-Step Procedures for Compliance    
•    Staff Training Programs
•    Newsletters    
•    Expert Support On-Line
•    Data Breach Coach To Help With Notification    
•    Regulatory Fines and Penalties
•    Forensic Investigators    
•    Public Relations Firms
•    Privacy Counsel
•    Call Center
•    Credit Restoration Services    
•    Notification Costs Outside Limit of Liability
•    Credit Monitoring
•    Security & Privacy Liability

*some restrictions apply.  Agencies over $5M in revenue, over 50% benefits or with prior losses need to be underwritten.

View a sample Breach Quote Here


            

E&O Happens Online Resources for Westport Insureds

http://www.iiaba.net/EOHappens

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.  




Risk Assessment Program
Exclusive E&O Audits for Insurors Members

In early 2013, Insurors initiated a new service to member agencies to provide on-site assessment of errors and omission liability potential. The assessment process is approved by Swiss Re, the underwriter of many E&O Liability policies written for Insuror members. Previously there were approximately 22 Swiss Re approved auditing firms outside the state of Tennessee. Insurors believes that by offering this service “in house,” exclusively to member agencies, we can be more responsive to their needs and schedules, and we can provide the service more efficiently than other auditing firms. Swiss Re has also approved E&O liability premium reductions of up to 10% for five years upon compliance with any audit recommendation. Typically this discount easily exceeds the cost of the audit.

Risk assessments will be performed by Don Cunningham, CPCU, CIC, a 30+ year veteran of the industry and an Insurors staff member. Don is the only Swiss Re approved auditor based in Tennessee. If you are interested in finding out the value an E&O risk assessment could provide for your agency, contact Don at 615.515.2602 or e-mail him at dcunningham@insurors.org.

  Commercial Umbrella Protection Over Your E&O Coverage 

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


Virtual Risk Consultant Online Sales and Service Resource  

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 CSRs. 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.





E&O Contacts



Stephen Holmes, CIC, CISR
sholmes@insurors.org  
615.515.2609




Don Cunningham, CIC, CPCU
dcunningham@insurors.org
615.515.2602