What do you like about your Insurance Agency E&O policy?

[AgencyEquity]

Many carriers have been innovative offering different options for Insurance Agency E&O coverage. One that I like is the aggregate deductible, where your annual deductible is capped at a certain number of claims per year. For example, if you have a catastrophic event and you have 5 E&O claims as a result, the most you would pay is your annual aggregate such as a maximum of 3 deductibles, instead of 5 deductibles. You can get first dollar defense costs, which means that you will not have to pay a deductible if they do not pay out anything on the claim. I always get defense costs outside of policy limits as this is well worth it since defense costs won ‘t be exhausted by the policy limit.