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CITA Insurance Services

We are a leading insurance agency and brokerage organization serving thousands of policyholders across the country. Our products and services are primarily focused in the commercial property and casualty space. Our world is one of specialization. We design customized and proprietary solutions and services for specified classes of professionals and businesses.

Have you considered what coverage benefits or features your E&O policy could be missing?

John Jasinski John Jasinski , 12/19/2016
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Have you considered what coverage benefits or features your E&O policy could be missing?
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CITA's Insurance Agents Errors & Omissions Program offers competitive rates, high-quality coverage and many program advantages. Some of the competitive coverage features include:
 
80/20 Consent to Settle Option
Minimizes the risk of out-of-pocket expenses
 
E&O claim example: Sally Jones, a P&C agent, decides not to give consent to settle to a $10,000 compromised settlement despite the carrier and defense counsel recommending the acceptance of the same. Sally maintains she did nothing wrong and the plaintiff is lying about the transaction at issue. The case proceeds to trial and the plaintiff ultimately receives a $20,000 reward. Without the 80/20 Consent to Settle option in her E&O policy, Sally would have been responsible for 100% of the difference between the settlement option and judgment, plus attorney fees from the date the settlement option was rejected. Since approximately $5,000 in attorney and defense costs were incurred by Sally, the net effect of having the 80/20 Consent to Settle clause in her policy would have been savings of approximately $12,000.
 
 
Specified Provider Deductible Option
 
Lower deductible option for E&O claims arising from business through an agency's top carrier.
 
 
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 out-of-pocket deductible expense the agency would have paid under their previous policy.
 
 
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.
 
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

This general product description is informational only and is not an offer or a quotation of coverage. Please refer to the policy for all terms, conditions and exclusions. All submissions are subject to underwriting. Coverage may not be available in all jurisdictions.

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