When it comes to Errors and Omissions coverage, we know that agents look for stable rates and a long term market that they can rely on to protect their greatest asset- their business. We provide our members with the security of knowing that they are getting the best overall E&O value in the marketplace- Not just a policy but a comprehensive program. We are familiar coverage, legal issues and claims problems associated with this coverage. Our primary responsibility is to fulfill our members' needs by delivering excellent service, outstanding guidance, and innovative insurance solutions.
Members may choose from different E&O Options: Both Swiss Re, through Westport Insurance Company and Fireman's Fund Insurance Company offer policy forms available exclusively to MWAIIA members. Swiss Re policyholders receive a comprehensive risk managment program for independent agents with access to a website with recommended procedures, sample documents and loss control articles, all pertinent to today's agency operations. See detailed information below on the E&O options available.
Have a question about your existing E&O policy or interested in a quote for your agency? Contact Diane Voit, CPCU, MWAIIA's Executive Director at 703-706-5446 or firstname.lastname@example.org.
MWAIIA is committed to helping you reduce the chances of your agency incurring an E&O loss with these tools:
Loss Control Seminars: MWAIIA members may qualify for a premium reduction if their staff attend designated E&O seminar. The 6 hour course is taught by professionals familiary with causes of claims and their prevention. The course is approved for 6 CE credits in DC, MD, and VA Successful completion of the course enables the agency to receive a 10% credit for each successive loss free year. A percentage of agency staff by position is required to attend the course. View agence staff class attendence requirements here:
Loss Control Credit Class Requirements.pdf
Loss Control Audit: Improve your agency operations and receive a 10% credit for 5 years by having an E&O audit performed by a professional skilled in the process.
Loss Control Website: Big I members and whose E&O is written by SwissRe, have unlimited access to a comprehensive risk managment website, E&O Happens. The site contains recommended procedures, sample documents, client letters, agency self assessments and loss control articles, all pertinent to today's agency operations.
Virtual Risk Consultant: For a small annual fee, agency staff members have access to a valuable customer service tool which helps agencies better assess risk for 650 classes of business and personal lines. Annual cost per agency begins at $250 for agencies with a staff of 15 or less.
VRC has useful information for all positions in the agency from the agency principal to the CSR and will increase the professionalism of the agency, leading to increased sales. Agency staff will be more knowledgeable about client/prospect operations and the VRC’s commercial and personal lines risk exposure analysis process offers a systemic approach to:
- Understanding the client’s operation with overviews for more than 650 business classes and personal lines risks
- Indentifying client exposures with customizable client surveys/questionnaires,
- Creating thorough customer proposals with information pertinent to their operation and a glossary of insurance terms,
- Prudently documenting customer files with signed coverage checklists.
Specific questions regarding the purchase of the VRC product through this website can be directed to Brett Sutch at email@example.com or (800) 221-7917.