Why EO Insurance For Insurance Agents

Why EO Insurance For Insurance Agents

Historically 1 out of every 7 insurance agents will report an Errors and Omissions claim at some point during their career. Today insurance agents are 4th among professions in number of claims being filed against them. Only physicians, attorneys and accountants have more (Tillinghast Survey). An agent not properly covered by insurance agents errors and omissions insurance risks the possibility of being held fully responsible for the damages if a claim is filed against them. Insurance agent brokers render vital services to individuals, families, and businesses|clients|customers} by consulting them to find and obtain adequate protection. Most insurance brokers, though, do not consider the risk involved with retail insurance sales. Recommendations that you provide for insurance, either to purchase or turndown, may come back as a law suite in the event a customer decides that you were wrong in your judgment. Customers facing a financial loss regarding insurance coverage, or lack of coverage, may lodge a claim naming you, endangering your career, livelyhood and property.

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