What is Insurance Agents & Brokers Professional Liability Insurance?
Claims against insurance agents and brokers can include failure to procure adequate or appropriate coverage, failure to procure any coverage at all, failure to properly communicate the limitations of coverage, and clerical error.
Adequate coverage will always be most effective protection against these claims. CMI works with agents and brokers to assure they’re equipped for any potential litigation.
- Unlimited Defense Costs Outside the Limits of Liability
- Personal Data Breach Protection
- First-Dollar Defense
- Duty to Defend Policy
- Full Insolvency Coverage
- No Contractual Liability Exclusion
- No Discrimination Exclusion
- Full Prior Acts Coverage available
- Optional Extended Reporting Period for up to five years
- Worldwide Protection
- Variety of Deductible
- Customized Coverage for Unique Risks
Why it’s smart to have Insurance Agents & Brokers Professional Liability Insurance
A customer requested automobile liability coverage to begin on January 1st. However, the agent misplaced the application and started the coverage effective January 10th. On January 11th, the agent learned that on January 8th, the customer was responsible for a three-car accident that killed two people. The agent was held liable for the total amount ($500,000) of liability coverage requested by the customer as of January 1st.