“On average, about one in seven agents will report a potential E&O incident to their carrier every year according to Swiss Re Corporate Solution claims data,” says Robert Rusbuldt, Big “I” president & CEO. “The Big ‘I’ Professional Liability Program joined forces with Swiss Re Corporate Solutions to create this industry-leading risk management program to help Swiss Re Corporate Solutions policyholders avoid E&O claims and improve their agency’s operation.”
The Big “I” Risk Management Website – “E&O Happens” – is a key component of the organization’s risk management efforts. Available at www.iiaba.net/eohappens, Swiss Re Corporate Solutions policyholders will find risk management information and tools to help them avoid future claims such as: understanding the root causes of E&O claims, prevention tips for all agency staff, sample disclaimers, sample procedures and customer letters, operational self-assessments, real-life case studies for learning, E&O-related articles, and more.
“The resources available on the E&O Happens website are very practical and can help agencies create greater awareness with agency staff of the need to proactively avoid E&O claims,” says Sabrena Sally, CPCU, Swiss Re Corporate Solutions senior vice president. “We want to offer our insureds more than just a policy but a comprehensive program. Every agent needs to think about their own E&O exposure and the good news is that a well-run agency operation is one that can avoid claims and successfully defend itself should one occur.”
The website also offers expanded E&O related content with the inclusion of the Big “I” Agents Council for Technology (ACT) and Big “I” Virtual University (VU) E&O related materials. More information regarding ACT and the VU are available at www.iiaba.net or www.iiaba.net/eohappens.
Swiss Re Corporate Solutions offers innovative, high-quality insurance capacity for single and multi-line programmes worldwide, either on a standalone basis or as part of structured and tailor-made solutions. In addition, it provides customised risk transfer solutions to mid-sized and large, multinational corporations across the globe to assist in mitigating their risk exposure. Swiss Re Corporate Solutions serves more than 50,000 customers from 40-plus offices worldwide and is backed by the financial strength of the Swiss Re Group. For more information about Swiss Re Corporate Solutions, please visit:
www.swissre.com/corporatesolutions
Since 1987, the Big "I" Professional Liability Program underwritten by Westport Insurance Corporation, a member of Swiss Re Corporate Solutions (rated A Excellent by A.M. Best), has been a premiere choice of IIABA member agents for insurance agents and brokers E&O insurance. The Big “I” Professional Liability Program offers a comprehensive program for insurance agents and has grown into the largest and most stable insurance agents E&O program in the nation. Big “I” members nationwide look to the program for stable rates and a long-term market that they can rely on to protect their greatest assets—their businesses.
Founded in 1896, the Big “I” is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life and health—as well as employee benefit plans and retirement products. Web address: www.independentagent.com.