Errors and Omissions Insurance for Insurance Agents

Even though they deal in the stuff themselves, insurance agents also need to be covered by insurance policies tailored to their specific needs. Errors and omissions insurance for insurance agents guarantees that insurance agents are protected against claims filed against them during the regular course of their job duties. Even a skilled insurance broker can make mistakes, and because their line of work deals with people’s finances and well-being, these mistakes have the potential to be far-reaching. That is why it is a good idea to protect yourself with errors and omissions insurance for insurance agents.  

What Is Covered?

  Errors and omissions insurance is a subset of liability insurance that protects against mistakes made throughout the course of an insurance agent performing his or her regular duties. These can be true errors, in which incorrect information is supplied to a client, or omissions in which the agent neglects to give the client important information. Both these types of mistakes can lead to complications down the line, and the insurance agent is considered legally liable for injuries the client suffers due to his or her mistakes. Errors and omissions insurance not only covers the cost of a settlement, but also legal fees and other associated costs.   With errors and omissions insurance for insurance agents, you and the agents at your brokerage can rest assured that you are protected from claims filed against you.

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