Overview — Insurance Agents & Brokers E&O
Preferred Concepts LLC offers access to a dedicated Insurance Agents and Brokers Errors & Omissions (E&O) program through Mercator Risk Services. This wholesale placement option is designed for independent agents and brokers who need professional liability protection for mistakes, omissions, and disputed professional services. Mercator places coverage with various admitted and non-admitted markets, providing flexibility for routine and more complex accounts.
Target Classes and Ideal Accounts
- Retail agents and brokerage firms
- Wholesale and surplus lines brokers
- Specialty operations and niche producers
- Underwriting managers and managing general agencies (MGAs/UGAs)
- Life and group health agents/brokers
- Reinsurance brokers
Mercator also has appetite for hard-to-place, distressed, or unusual accounts. If you have a client with prior losses, unique distribution channels, or unusual exposures, Mercator’s underwriting team can evaluate those situations and provide options.
Coverage Highlights and Advantages
- Professional liability (E&O) coverage tailored to insurance producers and broker errors/omissions.
- Limits available up to $5,000,000 on a primary basis, with additional limits offered on an excess basis.
- Access to multiple markets through a wholesale broker relationship—helpful when admitted markets are limited or a specialty appetite is required.
- Flexibility to consider non-standard and higher-exposure risks that may be declined elsewhere.
Underwriting Notes and Minimum Premiums
Underwriting is handled by Mercator Risk Services and is evaluated on a case-by-case basis. Minimum premium levels and deductible amounts depend on the size and type of the firm, its loss history, product lines, and overall exposure. Typical submission materials that speed placement include:
- Completed E&O application
- Recent loss runs and claims history
- Summary of operations, revenue, and staff/producer counts
- Details on any prior disciplinary actions or regulatory issues
Territories and Availability
This program is available across a broad set of U.S. jurisdictions: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY.
Why Work With Preferred Concepts LLC on This Program
- Wholesale distribution: Preferred Concepts connects you to Mercator’s program markets and underwriting expertise.
- Specialty handling: Mercator’s team is experienced placing unusual, higher-exposure, or hard-to-place producer E&O risks.
- Limits and structure: Capacity to place larger limits on a primary basis and to arrange excess layers when needed.
Example Scenarios
- You have a regional retail agency looking for a $1M/$2M professional liability program after a client dispute — this program can provide tailored primary limits and access to excess capacity.
- A wholesale broker with complex surplus lines placements has a prior loss on file and needs an E&O solution; Mercator will consider the account and work to place it rather than decline up front.
For placement assistance or to discuss a submission, contact Mercator Risk Services by phone at (860) 527-9717 or by e-mail at [email protected]. Additional program materials and applications are available on Mercator’s website: www.mercatorpro.com.
Frequently Asked Questions
What types of producer accounts are a good fit for this E&O program?
The program fits retail and wholesale agents, specialty producers, MGAs/UGAs, life/group health brokers, and reinsurance brokers — including accounts that other markets may consider hard to place.
What limits and policy structure are available?
Primary limits are available up to $5,000,000, with additional excess capacity available. The final structure depends on underwriting review and carrier appetite for the specific account.
How is pricing and minimum premium determined?
Minimum premiums and deductibles are determined by firm size, type of business, exposure profile, and loss history. Mercator evaluates each submission to provide a tailored quote.
What information should I include with a submission?
Include a completed E&O application, recent loss runs, a description of operations/revenues, and any relevant regulatory or disciplinary history to help expedite underwriting.
Can this program handle accounts with prior losses or unusual exposures?
Yes. Mercator explicitly handles hard-to-place, distressed, and unusual accounts and will review submissions that many standard markets decline.
Need help placing an account? Connect with a market specialist.