Rockwood Reduces Premiums for Its Life Agent E&O Product

Rockwood Reduces Premiums for Its Life Agent E&O Product

Rockwood Programs, Inc. has implemented premium reductions of about 20 percent for its life agent’s errors and omissions (E&O). More significant savings will be available to life agents generating less than $75,000 in revenues annually. The changes are scheduled to go into effect immediately for new business risks; existing accounts renewing after October 18, 2010 will be rated based on the new structure.

“The recently implemented change to our rating structure ensures that the premium charged is more commensurate with the level of risk being covered,” says Glenn Clark, the agency’s president. “We are the only professional liability provider to embed a separate $100,000 general liability limit within their E&O. Rockwood will also continue to provide up to $25,000 in Identity Theft protection. Both the general liability and Identity Theft coverages are provided at no cost to the insured.”

The policy is fully portable and assists agents in maintaining their retroactive dates despite changing carrier affiliations. Risks are written on an individual policy basis.

The Rockwood insurance agent’s E&O programs offer professional liability coverage for both life/accident & health and property & casualty agents. Limits of up to $1 million per claim and $2 million in the aggregate are available. There are several different deductible options as well. Both programs are placed through Certain Underwriters at Lloyds.

Source: Rockwood Programs

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