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Great News! A+ E&O offers reduced premiums for the 11/01/2018 – 11/01/19 coverage period

Insurance Specialties Services, Inc. is pleased to offer a streamlined process for Life and Health Insurance Agents to obtain affordable Errors and Omissions Insurance Coverage. Our agency is the administrator of the new A+ E&O Insurance Program, which is underwritten by Berkley Insurance Company.   Berkley Insurance Company is rated A+ (Superior) by A. M. Best, W. R. Berkley Corporation was recognized as one of the 2018 Ward’s 50 Top Performing P&C Insurers.

life and health insuranceBy simply and successfully completing a 7 question enrollment questionnaire and paying the appropriate premium, life and health insurance agents have instantaneous access to an Errors and Omissions Certificate of Insurance. We currently accept Visa and MasterCard or the agents may opt to mail a check for the payment once the enrollment process has been completed. Once payment is received and processed, the enrolled agent will be sent an email to download their Certificate of Insurance. Unlike many other agents’ E&O Programs, the A+ E&O Insurance program has no fees.

Life and Health Insurance Agents, as well as registered representatives holding a series 6 and/or 63 license, can request enrollment into the A+ Errors and Omissions Insurance Program. Currently, the A+ Errors and Omissions Insurance Program offer four levels of coverage.

LEVEL I COVERAGE PROVIDES FOR THE FOLLOWING:

  • Coverage applies to Life, Accident & Health Products, Medicare Advantage, Medicare Supplemental, Indexed & Fixed Annuities and Disability Income
  • Annual Premium: $520.00 (pro-rated after 11/1 based on the requested effective date)
  • Liability Limit: $1,000,000 per claim and $1,000,000 total annual aggregate per agent
  • Program Annual Aggregate Limit: $10,000,000
  • Defense Costs are provided within the limit of liability
  • Deductibles apply to Loss, including Defense Costs:
    • $500 per claim – Life, Accident & Health Products, Medicare Advantage, Medicare Supplemental
    • $2,500 per claim – Indexed, Fixed Annuities and Disability Income Insurance
  • Full Prior Acts Coverage for qualified Agents and Registered Representatives back to date of first continuous E&O coverage
  • A- or better insolvency carve back
  • 12 Month Extended Reporting Period (ERP)

LEVEL II COVERAGE PROVIDES FOR THE FOLLOWING:

  • Coverage applies to Life, Accident & Health Products, Medicare Advantage, Medicare Supplemental, Indexed & Fixed Annuities, Disability Income, Mutual Funds and Variable Products
  • Annual Premium: $620.00 (pro-rated after 11/1 based on requested effective date)
  • Liability Limit: $1,000,000 per claim and $1,000,000 total annual aggregate per agent
  • Program Annual Aggregate Limit: $10,000,000
  • Defense Costs are provided within the limit of liability
  • Deductibles apply to Loss, including Defense Costs:
    • $500 per claim – Life, Accident & Health Products, Medicare Advantage, Medicare Supplemental
    • $2,500 per claim – Indexed, Fixed Annuities and Disability Income
    • $5,000 per claim – Mutual Funds and Variable Products
  • Full Prior Acts Coverage for qualified Agents and Registered Representatives back to date of first continuous E&O coverage
  • A- or better insolvency carve back
  • 12 Month Extended Reporting Period (ERP)

LEVEL III COVERAGE PROVIDES FOR THE FOLLOWING:

  • Coverage applies to Life, Accident & Health Products, Medicare Advantage, Medicare Supplemental, Indexed & Fixed Annuities and Disability Income
  • Annual Premium: $550.00 (pro-rated after 11/1 based on requested effective date)
  • Liability Limit: $1,000,000 per claim and $2,000,000 total annual aggregate per agent
  • Program Annual Aggregate Limit: $10,000,000
  • Defense Costs are provided within the limit of liability
  • Deductibles apply to Loss, including Defense Costs
    • $500 per claim – Life, Accident & Health Products, Medicare Advantage, Medicare Supplemental
    • $2,500 per claim – Indexed & Fixed Annuities and Disability Income Insurance
    • Full Prior Acts Coverage for qualified Agents and Registered Representatives back to date of first continuous E&O coverage
    • A- or better insolvency carve back
    • 12 Month Extended Reporting Period (ERP)

LEVEL IV COVERAGE PROVIDES FOR THE FOLLOWING:

  • Coverage applies to Life, Accident & Health Products, Medicare Advantage, Medicare Supplemental, Indexed & Fixed Annuities, Disability Income, Mutual Funds and Variable Products
  • Annual Premium: $650.00 (pro-rated after 11/1 based on requested effective date)
  • Liability Limit: $1,000,000 per claim and $2,000,000 total annual aggregate per agent
  • Program Annual Aggregate Limit: $10,000,000
  • Defense Costs are provided within the limit of liability
  • Deductibles apply to Loss, including Defense Costs:
    • $500 per claim – Life, Accident & Health Products, Medicare Advantage,
      Medicare Supplemental
    • $2,500 per claim – Indexed & Fixed Annuities and Disability Income
    • $5,000 per claim – Mutual Funds & Variable Products
  • Full Prior Acts Coverage for qualified Agents and Registered Representatives
    back to date of first continuous E&O coverage
  • A- or better insolvency carve back
  • 12 Month Extended Reporting Period (ERP)

health and life insurance

Since 1987, Life and Health Insurance Agents Errors and Omissions Insurance Programs have been one of our agency’s primary focuses.  You will find the A+ Errors and Omissions Insurance Program available through Berkley Pro is an affordable and competitive policy, underwritten by a financially stable, well respected and experienced insurer.

Whether you are new to the life and health insurance industry, or a seasoned professional, Errors and Omissions coverage is required by virtually all life and health companies that an agent represents. The A+ E&O Insurance Program provides an affordable, hassle free and simplified process for fulfilling this requirement. In addition to Errors and Omissions Insurance being required by life and health companies, insurance agents should realize that when a covered claim occurs, E&O Insurance is going to protect their livelihood.  Our goal is not only to offer affordable and competitive Errors and Omissions Insurance, but to also educate Life and Health Insurance Agents on the importance of this coverage.

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