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The Arch Insurance E&O program includes a deductible waiver. "If the Named Insured has continuously maintained insurance agents, brokers & consultants errors & omissions insurance through the Program Administrator listed on the policy Declarations during the last 5 consecutive 12-month Policy Periods & has not had a Claim made against the
The Arch Insurance E&O program includes a deductible waiver. "If the Named Insured has continuously maintained insurance agents, brokers & consultants errors & omissions insurance through the Program Administrator listed on the policy Declarations during the last 5 consecutive 12-month Policy Periods & has not had a Claim made against them during the last 5 Policy Periods, the per Wrongful Act Deductible will be waived for the first covered Claim made during the current Policy Period up to a maximum of $25,000 or the amount of the Deductible, whichever is less."
Loss prevention counseling is included with the Arch Insurance E&O program.
Agents will have easy access to an experienced senior risk management attorney to confidentially discuss matters involving a potential claim, incident, or risk management inquiries. This feature is intended to help our clients prevent issues from arising or from turning into bigger problems and/or costly claims. Counseling available through this program is designed to address concerns such as the following:
Endorsements can be added to Errors & Omissions policies to further protect your agency.
Policy & Endorsement Specimens are available below..
Endorsements can be added to Errors & Omissions policies to further protect your agency.
Policy & Endorsement Specimens are available below...
Agents should also consider increasing coverage limits as their agencies grow.
*First Dollar Defense (FDD)
First Dollar Defense (FDD), is an additional insurance coverage option that may be purchased onto a firm’s professional liability insurance policy. You may also hear First Dollar Defense called a Loss Only Deductible or Indemnity Only Deductible.
When a firm carries first dollar defense coverage if a claim arises the insurance carrier pays the “first dollar” to defend the firm, and in turn, the firm only pays their deductible if indemnity is paid on the claim.
First Dollar Defense speaks to a specific coverage option offered as additional support if a claim arises. With first dollar defense, if a claim arises where only defense costs are incurred and no indemnity is paid, the insured will not be responsible for their deductible amount, as the carrier covers the costs to defend. In turn, if a claim results in a loss payout, the insured will be responsible for their deductible amount.
First Dollar Defense coverage means the deductible only applies to the damages that occurred within a claim and no deductible is required for defense expenses.
For example, let’s say your law firm is named in a claim but it is found that your firm is not at fault and the claim was nothing of merit. In this case, only defense costs have been incurred, therefore, your firm would not be responsible for payment of your deductible while your insurance carrier paid to defend you.
**Defense Outside of Limits (DOL)
Legal costs can quickly exhaust your policy limit leaving you to pay out of pocket for claims and settlement. In order to have protection against both claims and legal expenses, when purchasing or reviewing any of your liability policies, professional, general or product, you should determine whether the policy includes coverage for legal defense outside the limits or inside the limits of liability.
This should not to be overlooked because if your company is facing a law suit, the type of coverage you’ve elected will be pivotal in determining your potential financial responsibility.
We can use your current E&O policy & renewal application to acquire price indications.
An application is at the bottom of the page if needed.
Please email your documents & requests to info@amguardinsurance.com
No, you will keep your Retroactive Date.
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Phone: 951-463-3061 Email: info@amguardinsurance.com
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Saturday: 10am - 2pm
Sunday: Closed
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