The Platinum Standard in E&O!

Not all E&O programs are alike. As a Big "I” member, professional liability coverage is just one of your exceptional member benefits. Designed by agents for agents, our comprehensive E&O Program is administered locally by the professional staff of the IIA of Wisconsin and insured by the largest Re-insurer in the world, Swiss Re. We not only offer you a policy, but also a comprehensive program. 



Competitive pricing!

The Big "I” has a risk purchasing group for our members which allows us to provide the best pricing available. Only members can get their E&O coverage through Swiss Re Corporate Solutions. 

The purchase of E&O insurance is much like the purchase of a vehicle or even a home. With so many options available, price ranges can vary drastically based on coverage, endorsements and the marketplace. Just as a Ford Explorer can start around $22,000 for the basic model, it can quickly cost over $45,000 once a shopper adds amenities such as a moon roof, 4- wheel drive, technology packages and more! 

We can work with to customize the policy to fit your agency's coverage needs!


What's all covered under E&O?  

Not every operation you perform under your agency name is included in your E&O policy. You may need to seek a mono-line policy to find appropriate coverage. Below are the operations that are included in the Swiss Re policy.

Services rendered as a managing general insurance agent, general insurance agent, insurance agent, insurance broker, insurance consultant, including, but not limited to, insurance consulting connected with employee benefit plans, premium financing services provided by the NAMED INSURED to the NAMED INSURED'S clients for insurance products placed through the NAMED INSURED'S agency, loss control, risk management, or anti-fraud services rendered in connection with insurance placed through the NAMED INSURED, services as a registered representative rendered in connection with the sale and servicing of variable life and variable annuity products, or acting as a countersigning agent for out-of-state insurance agencies on policies issued within the state of domicile of the INSURED, teaching a formal insurance course, notary public, testimony as an expert. 

Additional services can be added as approved by underwriting to the definition including Human Resources Services, Safety Consulting, Mutual Funds & Investment Securities, Wellness Referral, and Real Estate Services. 



How is our coverage better? 

Review your carrier against our coverage checklist.

  •  BROAD DEFINITION OF INSURED - No itemizing entities or independent contractors – The Swiss Re definition of insured is broad, you won’t need to report as producers or contractors are hired or leave.
  • CONTINGENT CATASTROPHE EXTRA EXPENSE - No need to request by endorsement, it's already included in the policy form!
  • EXPERIENCE IN FLORIDA - Swiss Re doesn’t just include Florida, they write agencies domiciled in Florida and have employed attorneys who specialize in Florida insurance law.
  • 100% DEDUCTIBLE REDUCTION - If any INSURED generates and maintains contemporaneous documentation in the agency file of the refusal of any customer to accept any type of coverage or limit offer made by the INSURED, and if the INSURED subsequently has a CLAIM alleging the failure to secure such recommended type of coverage or limit, 100% of the INSURED'S DEDUCTIBLE for that CLAIM will be waived up to a maximum of $25,000 or until dismissal of such allegations, whichever is first.
  • BREACH OF DATA – The following is included at no additional premium (subject to eligibility) First Party per incident limit of $25,000; Third Party Limits of $1,000,000
  • PRIOR ACTS COVERAGE – Included if you have had continuous B+ AM Best Rated or better coverage over the past 5 years.

Recent Policy enhancements include: 

  • Crisis Management Coverage- NEW COVERAGE! Limits up to $20,000 per policy period
  • First Party Breach of Data Coverage – The per incident limit increasing to $25,000 from $10,000 and coverage will include legal representation in front of a DOI
  • Catastrophe Extra Expense Coverage- limits per policy period increasing to $25,000/$50,000 from $10,000/$25,000
  • Softened Hammer Clause – If the insured is not agreeable to Westport's recommendation to settle a claim, we will pay 40% above the amount for which the claim could have been settled and 40% above the amount of Claim Expense that was incurred up to the time we made the recommendation. If the limit of liability is exhausted, we will provide continued defense up to $10,000 while we transfer control to the Insured
  • Regulatory Defense Coverage – Increasing to $60,000 from $25,000
  • Loss of Earnings- Increasing reimbursement to $750 from $500 per insured per day and increasing maximum per policy period to $30,000 from $10,000 
  • Acquisitions and Mergers/Material Changes – Maximum time to report increasing to 120 days from 90 days 
  • Deductible Reduction Feature – Increasing the deductible waiver to 100% from 50% and increasing the maximum waiver amount to $25,000 from $12,500. Replacing the term “recommended” with “offered”
  • Termination of Coverage – Other than for non-payment of premium, our ability to cancel coverage mid-term after 60 days will be removed.

New Endorsements

  • Employee Benefits Specialist
  • Excess ERP over acquired entities
  • Investment Adviser
  • P&C Adjuster and Third Party P&C Claims Administrator
  • Professional Employer Services Referral

Who is an Insured?

(see definitions section of policy for full legal descriptions)

 Your employees and former employees, leased or temporary employees, independent contractor or former independent contractor while acting on your behalf. NOTE: These insureds do NOT need to be listed on the application or the policy to be included. 

Assess your current needs using our E&O Checklist

Has your E&O policy stayed current? Take a few moments to check the pulse of your agency E&O coverage.

Next: Checklist