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How can you reduce exposures to aggregate claims in an E&O policy period?
 
 
  How can you reduce exposures to aggregate claims in an E&O policy period?
 
 
 
 
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Have you considered whether your E&O policy limits the number of claim deductibles applied to a policy period? CITA's Insurance Agents E&O Program offers a low capped deductible option and many more competitive advantages.

Low Capped Deductible (2x Aggregate)
Reduces exposures to aggregate claim expenses

Example of the benefit: Smith Insurance Agency had historically purchased an E&O policy with a $10,000 per claim deductible which was subject to a deductible aggregate amount of 3X the per claim deductible amount. At their most recent E&O renewal, the Smith Agency purchased an E&O policy from CITA Insurance Services, which offered the same $10,000 deductible, but the CITA policy capped the deductible aggregate at 2X the per claim deductible. During the course of their E&O policy term, the Smith agency reported three (3) claims with values of $10,000, $15,000 and $20,000 respectively. Because of their switch to CITA and the included 2X deductible aggregate benefit, the total out-of-pocket deductible expense for the Smith Agency was $20,000. This represented a $10,000 savings from the $30,000 in out-of-pocket deductible expenses the agency would have paid under their previous policy.



Specified Provider Deductible Option
Your deductible does not apply to defense costs

Lower deductible option for E&O Claims arising from business through an agency's top carrier.



Access to Insurance Agency E&O Risk Management Resources
Free resources to help you manage E&O risks

Free resources include a risk management hotline, pre-claims assistance, risk management tools, education, events and publications.



Easy Online Renewal
Opportunity to save time when renewing coverage

Qualifying smaller insurance agencies that are claims free may be eligible to simply answer five underwriting questions for two renewal periods.



Diminishing Deductible Option
Deductible reduction applies when you are claim free and renew your policy

Receive the benefit of a deductible reduction to apply to your first E&O claim. This deductible reduction accumulates at a rate of 10% for each consecutive claim-free policy period, up to a maximum of 50% cumulative reduction for 5 consecutive claims free 12 month periods. The reduction applies to the original deductible amount on the policy under which the claim is reported, and applies to the first reported claim (subject to a maximum reduction of $10,000).



To learn more about the benefits of CITA's Insurance Agents E&O program, please call 1-888-813-9295 or click here.
 
CITA Insurance Services
 
CITA Insurance Services
A Division of Brown & Brown Program Insurance Services, Inc.

681 S. Parker St., #300
Orange, CA 92868
CA License # 0B02587

NOTICES
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This literature is descriptive only and is being provided solely for informational purposes. It is not intended or should not be construed as legal, business, insurance, or other advice. Actual issuance of coverage is subject to underwriting.

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John Jasinski
Other articles by: John Jasinski
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