Whether you are just starting your agency or have been in business for decades, it is a good idea to research insurance agent E and O insurance to make sure that you are adequately covered. The industries your clients work in, the number of clients you have and even who the owner of your agency is can all influence the types of coverages you need.
The higher the risks your clients face, the more damages you could be held liable for. This means that you should be factoring those risks into your insurance coverage as well. Not only can this help you find the right coverage for your agency, it can also help you better identify and reduce the risks that your clients face, saving everyone money and hassle. The more research you do, the less you will end up paying for premiums and for damages.
Insurance agent E and O insurance can save your practice from bankruptcy if you are found liable for damages paid by your clients. This insurance will need to cover the risks you face, such as how many risks your clients face, as well as the damages amounts you are likely to encounter. The best way to find the right coverage is to look at the markets which offer it and compare individual plans and the companies which offer them.