Effective April 1, 2006, E.L.M Insurance Brokers, El Segundo, Calif., has a new admitted professional liability program for insurance brokers’ errors and omissions.
The new market, PACO Assurance Co., has an “A-” V rating from A.M. Best. The E&O program is available in California and several other states- and will be available in all l9 Western States. E.L.M. Insurance Brokers is semi-exclusive in California and will be exclusive in many of the Western States. The program’s coverage is comprehensive and written on a claims-made and reported policy form. Eligible classes include agents, brokers, wholesalers, managing general agentss, with coverage for predecessor firms, independent contractors and personal injury. Firms that are also engaged in real estate services can be endorsed for that, also. (Wholesalers are defined by selling business to other agents and MGAs are defined as writing business for which they have underwriting authority). Wholesalers and MGAs will need to include a supplemental application.
Limits of liability are on a per claim/aggregate and range from $100,000/$200,000 up to $1 million/$3 million. Program offers choice of deductible ranging from a low $1,000 to $100,000. Of special interest to agents, PACO Insurance Co. is also supporting the E.L.M. Web site for online quotes and almost immediate indications.
The application will be available on-line on May 1. During the month of April, agents are invited to contact Frederick Fisher or an E.L.M. insurance broker underwriter for an application via fax or e-mail. A supplemental application for MGAs and wholesalers will be supplied.
E.L.M. also has applications for accountants & bookkeepers, architects and engineers, attorneys, computer and generic consultants, directors and officers (for-profit and nonprofit), employment practices liability, insurance agents and brokers, miscellaneous liability, mortgage brokers and real estate brokers. In addition, these applications are online at www.e-o.com or E.L.M.’s web site for quick premium indications from various markets – www.e-insurebynet.com. E.L.M. Insurance Brokers Inc. is located at 1990 East Grand Avenue, Suite 210, El Segundo, CA 90245
For more information, contact Fred Fisher at E.L.M. Insurance Brokers Inc. (310) 322-1301; Fax: (310) 322-1302. Or e-mail: ffisher@e-o.com.
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