Insurance agents are often so accustomed to serving others that it can feel somewhat "unnatural" when it comes it reversing roles and thinking about protecting their own businesses. And while most agents have a deep knowledge when it comes to the insurance products they offer their customers, many agents are less certain when they are considering covering their own business. But insurance agents understand risk. And when it comes to mitigating risk for themselves and their agencies, that’s where errors and omission (E&O) insurance is essential. E&O insurance is designed to protect insurance agents (and agencies) from any potential financial fallout due to mistakes made in the course of doing business. Because of this, E&O insurance should be a crucial piece of every agent's business insurance portfolio.
In this recent article published in InsuredMine – Choosing The Best Errors & Omission Insurance (E&O): The Complete Guide, the author breaks down the ins and outs of E&O insurance: what it is, the coverage it provides, why it's important for insurance agents and agencies, the factors that go into pricing E&O insurance, and how agents can find the best E&O insurance for their business. The article's goal is to "cover everything you need to know about the best errors and omission insurance for insurance agents" –