Professional Liability/
E&O Coverage

Rhode Island’s largest established Errors & Omissions insurance program

Exclusive access to the admitted A+ rated Westport product as well as access to almost any E&O market (both admitted and non-admitted) makes IIARI Member Services an agent’s go-to resource for professional liability insurance.

Rhode Island’s largest and established Errors & Omissions insurance program, IIARI Member Services is focused on helping member agents get the coverage they need at a competitive price

What else would you expect from the agents’ agent?

IIARI’s E&O program—underwritten by Westport Insurance Corporation, a member of Swiss Re Corporate Solutions—was developed by agents for agents, and is tailored to provide the broadest protection available. Program highlights include:

  •  Defense costs in addition to the limit of liability.
  •  Deductible Reduction feature: If you need to file an E&O claim and the agency generates and maintains written documentation in the agency file of the refusal of any customer to accept any type of coverage or limit offered by the agency, 100% of the agency’s deductible for that claim will be waived up to a maximum of $25,000
  • $20 million limit capacity is available.
  •  Catastrophe Extra Expense coverage $25,000/$50,000 (with increased limit options up to $100,000/$250,000 available through endorsement).
  • Insolvency coverage for placement with carriers rated B+ or better by A.M. Best or carriers covered by a state guaranty fund. 

The RIAIA E&O program has a proven claims-paying track record, is a fierce advocate when it comes to claims handling and coverage interpretation, and offers the kind of outstanding customer service that comes with your IIARI membership.

Apply for the Westport E&O Program

Apply Now

Additional Options

Through our IIABA endorsed brokerage firm, IIARI has established relationships with several admitted and non-admitted carriers to serve members who may be ineligible for placement in Westport or want to look at additional options outside of Westport.

IS THIS A NEW VENTURE/START-UP AGENCY?

The following are needed to apply for coverage:

  1. Complete the three-page application (must be signed by an owner, officer, or partner). 
  2. Provide the agency owner’s resume highlighting industry experience. 
  3. Provide a one-page summary of your agency’s business plan. 

Email all items to Michelle St. Angelo.  You will receive a confirmation once the application is received.

HAS YOUR AGENCY BEEN IN BUSINESS LESS THAN THREE YEARS?

The following are needed to apply for coverage:  

  1. Completed seven-page application (must be signed by an owner, officer, or partner). 
  2. Current valued E&O loss runs.

Please note: we may be able to use your current carrier’s E&O application to obtain a premium indication.

Email all items to Michelle St. Angelo. You will receive a confirmation once the application is received.

Quick Links

For more information, please contact

Michelle St. Angelo, CISR
E&O Program Manager
mstangelo@massagent.com
(508) 634-7364

Marcelina Alves
E&O Program Manager
malves@massagent.com
(508) 634-7365

Judy Carlson
E&O Program Manager
jcarlson@massagent.com
(508) 634-7368

The IIARI Member Services Swiss Re Corporate Solutions/Westport E&O program accommodates the needs of insurance professionals who are exploring different income-generating activities. Built on a modular design, a standard set of terms and conditions forms the basic E&O policy, to which agents add multiple coverages for their diverse operations and exposures. The various units are combined into a single policy, providing seamless coverage for many exposures, including contractual liability and mutual funds sales.

Highlights include:  

  • Defense Costs in addition to the limit of liability 
  • Insolvency coverage included in policy for placement with carriers rated B+ or better by A.M. Best or carriers covered by a state guaranty fund 
  • Deductible Reduction feature: Ability to reduce your deductible by 100% on each claim 
  • $20 million limit capacity available 
  • Catastrophe Extra Expense coverage limit options up to $100,000/$250,000 though policy endorsement
  • Broad duty to defend even if claim or potential claim is groundless, false or fraudulent 
  • Broad definition of “Professional Services” 
  • Other Related Services coverage includes the agency’s advertising, notary public and carrier draft authority activities 
  • Claims-made policy form with broad claim reporting provision 
  • Ability to provide full prior acts coverage for acquired entities 
  • Protection for innocent insureds 
  • Aggregate or Each Occurrence deductible options available  
  • First & Third Party Breach of Data coverage included in policy form 
  • Unlimited subpoena coverage outside the limits of liability
  • Regulatory Defense coverage limit of $100,000 
  • Multiple Extended Reporting Period options are available 
  • Expansive definition of Insured includes current and former employees, independent contractors and leased or temporary employees 
  • Reimbursement for loss of earnings or use of temporary staff due to attending depositions or trials provided at $1,500 per insured per day/maximum of $75,000 per policy period 
  • Punitive and exemplary damages included where permitted by law 
  • Personal Injury definition includes false arrest, detention, humiliation, libel, slander and wrongful entry of a premise or dwelling 
  • Optional coverage available for EPL, Real Estate E&O and agency’s ancillary services 
  • Liberalization clause for broadened policy provisions 
  • Insured’s consent required to settle any claim 
  • No contractual liability exclusion 
  • Worldwide coverage