Broker's Errors and Omissions

Broker's Errors and Omissions

TSW Management Services Inc. is pleased to provide our comprehensive Insurance Broker’s Errors & Omissions Program in partnership with our Canadian domestic insurer (rated A by A.M. Best).

 

Please note that this program is not offered in Quebec.

Key Coverage Features

  • Claims First Made during the policy period.
  • Broad definition of Insured (including predecessor firms).
  • “Pay on Behalf of” and “Duty to Defend” wording.
  • Full Retroactive Coverage.
  • Defense Costs – Outside of the Limit of Liability ($2MM aggregate costs per claim).
  • First Dollar Defense available.
  • Life Insurance Agents covered.
  • Canada and the USA Territory.
  • Non-Cancelable (except for non-payment of premium).
  • Punitive Damages coverage within Canada.
  • Insured vs. Insured – Claims covered arising out of insurance placements for staff.
  • Up to Eight Years of Extended Reporting Period provision.
  • Soft Hammer Clause (Defense Costs Inclusive).
  • $5,000,000 Primary Limit of Liability available.
  • Excess Limits available up to $20,000,000 (and more if needed).
  • Retention Reduction Clause reduces your Retention by 50% (up to $5,000) when you retain documentation of declined coverage when pertinent to the claim.
  • $50,000 Disciplinary/Regulatory Proceedings coverage.
  • $15,000 Loss of Documents Expense.
  • 30 Day Acquisition Clause.
  • $10,000 Identity Theft coverage. This protection is provided to all the personnel of your office. By purchasing your Broker’s E&O insurance with TSW, your staff is covered for up to $10,000 to help restore financial health and credit history as a result of identity fraud.

You owe it to your bottom line to obtain a competitive quote with superior coverage from TSW.