All Risks launches E&O program for agents, brokers
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Wholesale broker All Risks Ltd. said on Friday it has launched an errors and omissions insurance program for agents and brokers.
Available in all 50 states on a nonadmitted basis, the program offers flexible and broad coverage, including data breach and first- and third-party cyber liability coverage, the firm said in a statement.
The policy includes a broad definition of professional services and comprehensive insolvency coverage, Hunt Valley, Maryland-based All Risks said.
It also offers proprietary coverages to help insurance agents reduce costs related to unexpected events including reimbursement for canceled conferences, emergency web hosting, and the use of temporary meeting space, according to the statement.
The product offers up to $5 million in limits for E&O coverage and up to $1 million in limits for first-party cyber coverage, Tabitha DeGirolano, program manager/underwriter, agents professional liability for All Risks, said in an emailed response.
Optional coverages under the program include defense outside the limits, first-dollar defense, aggregate deductibles, and increased cyber limits, the company said.
National Specialty Programs, a unit of All Risks, is the exclusive administrator of the program, the firm said.
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