Insurance for Insurance Brokers
Who's it for?
- Retail Insurance Agents & Brokers
- Benefit Plan Administrator
- Benefit Plan Consultant
- Independent Contractors
- Insurance Specialty Operations
- Life / Group
- Managing General Agencies
- Specialty Lines
- Third Party Administrators
- Wholesale Brokers
What does it cover?
Legal defense costs - no matter how baseless the allegations. It will pay for any resulting judgments against you, including court costs, up to the coverage limits on your policy
Why bother with Insurance Broker Insurance?
- Mistakes Happen. Even the most skilled professionals are likely to make an error at some point. From catastrophic equipment failures to human oversights that result in personal injury, many incidents can result in a lawsuit.
- You Can't Be All Places At Once. As your firm becomes more successful, you may not be able to personally handle every aspect of each client's coverage. Errors & Omissions coverage insures not only your mistakes, but also the mistakes of the employees and independent contractors you hire.
- The exposures facing insurance professionals are changing rapidly. Recent news coverage of problems at large insurance carriers and on the crack-down on Wall Street have increased the professional liability exposures of insurance brokers and agents to claims of insurer insolvency.
- Some of your clients may require that you and your subcontractors carry Errors & Omissions insurance. The right kind of E&O policy can protect both the insurance firm and subcontractors from claims of a perceived error or omission, even if the problem occurs months after the initial consultation.
©2020 Novus Insurance Brokers
California License Number: 0H49311