PROFESSIONAL LIABILITY INSURANCE

For 25 years, the Big "I" Professional Liability Program underwritten by Westport Insurance Corporation, a member of the Swiss Re Group (rated A+ Excellent by A.M. Best), has been the premiere choice of Big "I" Maryland members for insurance agents and brokers E&O insurance.

Coverage Benefits

  • Coverage for the sale of both Property/Casualty and Life and Health insurance products
  • Limits of liability up to $20 million
  • Broad definition of covered professional services and activities
  • Comprehensive definition of who is an insured
  • Aggregate deductibles
  • Defense cost outside the limits
  • Available first dollar defense
  • Full prior acts available
  • No contractual liability exclusion
  • Coverage for punitive damages (where available by state)
  • Multiple extended reporting period options
  • True worldwide protection
  • Coverage for advertising, libel and slander
  • Catastrophe Expense $25,000 per policy period
  • Subpoena Coverage $10,000 per policy period
  • 1st Party Personal Data Breach (cyber) $25,000 per policy period
  • 3rd Party Personal Data Breach (cyber) $1,000,000 sublimit
  • Deductible reduction up to $12,500 per claim for risk management activities
  • 10% Premium credit for three years for attending an approved loss control class

Additional Benefits

  • State associations that serve to assist you should a claim arise.
  • An exclusive policy form and premium credits filed on a Risk Purchasing Group basis to give Big "I" members coverage tailored to their needs.
  • Competitive pricing supported by a critical mass of premium volume to maintain rate stability.
  • A partner in Swiss Re Corporate Solutions, a member of the Swiss Re Group, rated A+ Superior by A.M. Best.
  • Loss prevention materials to reduce the chance of a claim and improve business processes.
  • An exclusive comprehensive risk management website including practical information and tools to help your agency avoid
  • E&O Risk Management Web site – www.independentagent.com/EOhappens.
  • E&O Claims Advisor– a periodic E&O risk management newsletter available only to Swiss Re policyholders, providing valuable information to all positions in the agency.
  • A Professional Liability Committee comprised of IIABA member agents to oversee and recommend enhancements to the program to meet the ever-changing needs of agents.  

Click here for a sample policy form



With more than 25 years of experience, Alliance is an industry leader in providing liability coverage for agents and brokers against errors and omissions. Alliance is rated A+ Excellent by A.M. Best. This exclusive policy form is filed on a Risk Purchasing Group (RPG) basis and is available only to members of Big "I" Maryland.  

Coverage Benefits

  • Rated A+ by A.M. Best
  • State of the art coverage form, exclusive to Big "I" members
  • Claims made coverage with full prior acts
  • Coverage for sale of both Property/Casualty and Life/Health insurance products
  • Insolvency coverage for all carriers with B+ or better A.M. Best rating
  • Limits of Liability up to $10 million
  • Broad coverage tailored to insurance agencies
  • Broad definition of who is an insured, including spousal liability
  • Aggregate deductibles
  • Defense costs outside the limits
  • 80/20 Consent to settle clause

Additional Benefits

  • $50,000 first party personal data compromise breach response for the accidental loss of client data, with optional higher limits available
  • Full prior acts available
  • Deductible waived if insured is claims free with Allianz for five or more years
  • $10,000/$30,000 Per catastrophe/per policy period claims extra expense
  • $35,000 Regulatory investigation defense expense coverage per policy period
  • True worldwide coverage
  • 10% Premium credit for three years for attending an approved loss control class

Click Here to see a sample policy form.


EXCESS PROFESSIONAL LIABILITY COVERAGE

Coverage is provided by First Specialty Insurance Corporation, A SwissRe company, rated A+, XV

Maximum Capacity $10,000,000. Cannot be greater than your underlying policies. Can be written over your underlying E&O (Underlying must be with an approved carrier, which includes Utica Mutual, Fireman's Fund, Safeco, Darwin, Indian Harbor, Great American, National Union, CNA and Liberty)


rEQUIRED

  • Completed application 
  • Form Numbers of Policy forms and Endorsements of all primary policies
  • Limits, deductibles, premiums of all underlying policies
  • Five year loss runs


  • 10% Loss Control Credit

    Big "I" Maryland members who purchase E&O coverage may be eligible for a 10% loss control credit on their premiums. In order to receive the credit, a percentage of your agency's staff must complete an approved E&O Risk Management class. The one-day, 6 hour class, if offered by IIAMD four times a year.  

    Upcoming events

    If you have questions regarding any of our E&O programs please email insurance@iiamd.org.

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