Take Cover with ATM
Learn More About Insurance Agents E&O and Miscellaneous Professional Liability
Wholesaler and managing general agent American Team Managers (ATM) Insurance Services offers Insurance Agents Errors & Omission coverage. To protect you and your agency against a loss in the event of an error or omission you or your staff make (or are accused of making). These types of errors can include something as simple as lacking a required document, such as a waiver of coverage, or miscommunication between you and a client that results in allegations of insurance gaps or lack of coverage. In many instances, these issues come down to a he-said, she-said scenario, which is why E&O insurance is crucial in protecting an agency’s assets and required by carriers, MGAs, wholesalers and program administrators as part of doing business.
What’s important to know is that although many carriers offer E&O coverage, not all E&O policies are created equal, particularly in what they cover if a claim makes it to court. Some policies may pay for the settlement amount but not your defense expenses, such as attorney’s fees. Others may pay defense expenses but not for actual losses. Some policies may not be specific to the services you provide and inadequate when it comes to your risk profile. For example, you may specialize in serving high-end clients or a specific niche market that increases your professional liability exposures. At ATM, we understand this, and work with you to ensure you are getting the right policy that fits your needs.