The Independent Agents & Brokers of America (IIABA) Big “I” Professional Liability Program and Swiss Re Corporate Solutions have launched a new risk management website.
The “E&O Happens” website was designed to offer risk management help for insurance agents. It is a key component of the organization’s risk management efforts. It is available exclusively to agency errors and omissions (E&O) Swiss Re Corporate Solutions policyholders.
“On average, about one in seven agents will report a potential E&O incident to their carrier every year according to Swiss Re Corporate Solution claims data,” said Robert Rusbuldt, Big “I” president and CEO. “The Big ‘I’ Professional Liability Program joined forces with Swiss Re Corporate Solutions to create this industry-leading risk management program to help Swiss Re Corporate Solutions policyholders avoid E&O claims and improve their agency’s operation.”
The website includes risk management information and tools to help avoid future claims by understanding the root causes of E&O claims. There are also prevention tips for all agency staff, sample disclaimers, sample procedures and customer letters, operational self-assessments, real-life case studies for learning and E&O-related articles.
The website also offers expanded E&O related content with the inclusion of the Big “I” Agents Council for Technology (ACT) and Big “I” Virtual University (VU) E&O related materials.
Sabrena Sally, Swiss Re Corporate Solutions senior vice president, said the website contains practical advice and can raise awareness with agency staff on the need to proactively avoid E&O claims.
“Every agent needs to think about their own E&O exposure and the good news is that a well-run agency operation is one that can avoid claims and successfully defend itself should one occur,” Sally said.
The Big “I” Professional Liability Program, underwritten by Westport Insurance Corp., a member of Swiss Re Corporate Solutions, has been a premiere choice of the Alexandria, Va.-based IIABA member agents for insurance agents and brokers E&O insurance. It offers a comprehensive program for insurance agents and has grown into the largest insurance agents E&O program in the nation.
Swiss Re Corporate Solutions is part of the Zurich-based Swiss Re Group and serves more than 50,000 customers from 40-plus offices worldwide.
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