MIMS International and Philadelphia Insurance Companies joined Big “I” Markets, offering miscellaneous professional liability insurance that agents can provide to clients through the online technology conduit.
The new coverage-the latest addition to the Big “I” Markets portfolio of specialty, niche, new/unusual and program coverages-will provide errors and omissions coverage to a wide variety of professionals via endorsement to a basic claims-made policy, including the ever-expanding industry of computer consultants and design professionals. This new Big “I” Markets product is administered by MIMS International and underwritten by Philadelphia Insurance Companies.
MIMS International specializes in designing insurance programs that assist clients in generating, freeing-up and saving income. Policy limits can be written for as low as $100,000 limit of liability up to $10,000,000, with a minimum deductible of $1,000 up to $100,000. This is accomplished by tailored coverages that include:
• Defense afforded for groundless, false or fraudulent allegations
• Coverage that extends to independent contractors
• Free 60-day discovery clause
• Pay-on-behalf insuring agreement
• Prior acts coverage available for qualified applicants
• Loss Assistance Hotline with two free hours of legal consultation
Launched in New Jersey last July and five additional states since-Iowa, New Hampshire, New Mexico, Oklahoma, Virginia-Big “I” Markets offers innovative and technologically advanced access to a product portfolio of niche coverages.
According to IIAA, Big “I” Markets allows independent agents to use technology to create an electronic connection between product providers and producers while still advocating individual, personal client service by agents. IIAA and its state associations train and certify member agents on the Big “I” Markets online application and plan to provide continuing education to members on the products available.
Several other IIAA state associations will unveil Big “I” Markets in the coming months. Numerous other states are laying the groundwork for the introduction of the Internet-based marketplace to their members.
The exact Big “I” Markets rollout schedule is being finalized as system resources continue to be tested and expanded. For more information about Big “I” Markets, members should contact their IIAA state association or the national program director, Ryann C. Harris, at rharris@iiaa.net or (703) 706-5417. Interested insurance providers should also contact Harris.
Topics Professional Liability
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