National Ethics Association Expands E&O Program for Low-Risk P&C Agents

A new program sponsored by the National Ethics Association provides low-cost E&O insurance to property & casualty insurance agents nationwide. Issued by Everest National Insurance Co. and administered by Marsh U.S. Consumer, a service of Seabury & Smith, Inc., the coverage will cost substantially less than comparable coverage for higher risk agents.

“In certain high-risk states such as California and Texas, responsible P&C agents often have difficulty finding affordable protection,” says Steven R. McCarty, National Ethics Association Chairman. “Our program is available in all states except New York. In each of those 49 states, agents pay the same rate for protection.”

The association’s sponsored professional liability insurance—Preferred Risk E&O— lowers premiums for agents who can successfully answer ten risk assessment questions. Once they qualify, they can buy their coverage on the association’s Web site.

McCarty adds that helping P&C agents prevent claims is another hallmark of “Ouchless E&O.” To that end, National Ethics Association will provide ongoing ethics, compliance, and practice-management updates to help agents do business responsibly.

The association’s sponsored E&O product provides a $1 million limit of liability for each claim and a $1 million limit for all claims under each Certificate of Insurance. The total policy aggregate for all claims under all Certificates of Insurance is $10 million.

Everest National’s coverage will also provide: