Enrollment for Farmer’s Professional Liability Coverage to Begin
Enrollment for the United Farmers Agents Association’s Errors and Omissions Plan for all qualified agents will begin 10/1/2010 for the coverage period beginning 1/1/2011. Premium will be collected in January when the coverage incepts. The program is offered exclusively to direct writing agents of the Farmers Insurance Group of Companies, Inc.
The plan coverage form is accepted by Farmers and all affiliated companies and offers broad coverage and competitive cost as compared to other currently offered sponsored group plans.
Coverage features:
- Coverage limits of 1,000,000 to 5,000,000 per occurrence and aggregate.
- Coverage applies to all staff and agency producers while acting on behalf of the insured Farmers Agency at no additional cost.
- Coverage applies to all Farmers and affiliated companies, and all non Farmers coverage placements by the insured agent at no additional cost.
- Monthly payments by bank draft or credit card.
- Retroactive coverage is provided to the agent’s appointment date with Farmers Group, Inc. if uninterrupted coverage has been maintained at no additional cost.
- Coverage is portable if the agent insured in this program terminates their Farmers contract to become an Independent Agent (subject to underwriting guidelines).
- Deductible of $2500 per wrongful act and aggregate that applies to damages only and may be waived at no cost by compliance with the Waiver of Deductible endorsement at no additional cost.
- Unlimited Defense Costs outside of policy limits.
Coverage is offered by a national insurer, rated A XV by A.M. Best & Company.
The program is marketed exclusively through Kevin Dahlke Insurance Brokerage
Source: United Farmers Agents Association
