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I've been trying to find affordable E&O coverage for over the last month. I have tried going to the many associations (PIA, IWAWest, others) and all have markets that require 3-5 years of experience. It's strange that not one of these organizations has info for new brokers. Almost every organization I have been with, in my professional career (IT Industry), has a dedicated department to assist new comers and establish them in the industry. With the help from a few it's almost like veterans

I've noticed that many Health insurers sponsor E&O coverage for as little a 500/year for 1 million in coverage. Does anyone know if there are P&C insurers that sponsor E&O. Can anyone recommend where I can obtain insurance. I plan on writing no more than 300,000 in premiums my first year.

Try Rockwood Programs in Wilmington DE

Did you try Rockwood Programs (http://www.rockwoodinsurance.com)

If rockwoodprograms are not able to help you, there is one insurer that will write almost any risk, the insurer is Prime Syndicate out of Utah. You should know in advance that they are a B- Rated Carrier by A.M. Best as well as a non-admitted carrier, but if you don't have any other options, they may be able to help you.

You should also know, that they're not the cheapest carrier either, but if needed, you can access them at http://www.primeis.com and go to application section and download application.

tried rockwood but was told by rep that they do not write my zip code. I live in Anaheim CA 92804. I guess I just live in the wrong zip code.

I ran into the same situation.....all the carriers I spoke with were asking for $10,000 + in annual premium. Tough when you are just starting out....heck, tough even if you have been around a while.

I finally went through my loca IIA chapter (Independent Insurance Agents) and got an excellent policy for @$1,100 annually. Granted, the deductible is high, but most carriers - from what I saw - were quoting $2500 plus deductibles for this line of coverage.

Not sure if you have located anything yet ( I was late reading your post!), but if not, give your state chapter a try.

Good luck.
Pam - blueridgeins@alltel.net

We offer an insolvency exposure coverage that the carrier can purchase to protect each of its agents.

Have you tried WIAA Insurance Services? It's a member service.
Phone number is (800)553-4221. Good Luck!

The Alliance of Insurance Agents & Brokers in California has an exclusive Fireman's Fund E&O program for its members and premiums range from $1,493 to $1,652 per licensee for $1 million/$1 million limits, depending on the deductible. The coverage is great with features such as first-dollar defense and defense costs outside the policy limits, not to mention a generous retro date. Although broker-agents need to be in business for three years to qualify for this particular program, the Alliance will place broker-agents who can't yet satisfy this requirement with other competitive carriers in the meantime, then transition broker-agents to the Fireman's Fund program at the three-year mark. In the interest of full disclosure, I am the executive director of the Alliance and I take great care to personally shop E&O policies for our members. I'm always happy to answer any questions whatsoever from broker-agents, whether the questions relate to E&O or other issues I can be helpful answering in order to help broker-agents prosper. If individuals prefer not to post such questions online, I can be reached privately at mdarelli@agentsalliance.com. "Thank you" to the Insurance Journal for providing this forum.

Depending on what type of coverage you are writing and how much you expect to earn this year, I could probably get you into PACO Assurance Company's program. Limits of $1MM/1MM would be between $1,200 and $1,750 with no prior acts coverage. There would be a $90 fee that the company charges that can be credited back by completion of an online program. Feel free to contact me at kmeadows@gray-stone.com and we can discuss in greater detail.