E.L.M. Insurance Brokers recently announced a new errors & omissions program for insurance agents in California, Oregon, Nevada, Arizona, New Mexico, Colorado, Utah, Idaho, Kansas and Wyoming. Managing general agents and wholesalers are also acceptable in this new program.
This is an “A-” rated, non-admitted program written on a claims-made basis. Limits will go up to $5 million and premiums start at $2,500. New agents/agencies will be considered subject to experience requirements and agencies with lapsed coverage will be subject to underwriters’ approval. Prior accounts coverage is available. Deductibles start at $1,000 for certain agencies.
According to Robert Geist, senior account executive, “It would appear that this program will offer some limited relief to the beleaguered insurance agents’ E&O market which has, over the past year, seen dramatic increases in premiums and reductions in coverage.”
A fully completed application with complete loss information is required to obtain terms. No phone quotes.
E.L.M. is making available to agencies its applications for accountants & bookkeepers, architects & engineers, attorneys, computer & generic consultants, directors & officers (for-profit and nonprofit), employment practices liability, insurance agents & brokers, miscellaneous liability, mortgage brokers and real estate brokers. These applications are available online at E.L.M.’s Web site – www.e-insurebynet.com.