Swiss Re introduces national excess liability coverage for insurance agents
12 February 2008, Overland Park
Swiss Re's Commercial Insurance today announced the national launch of its Excess Liability coverage for Insurance Agents and Brokers Professional Liability. Eligible risks include agencies with primary coverage through various errors and omissions carriers.
"This launch demonstrates our ongoing commitment to providing superior products and services through the Big "I" E&O program," said Sabrena Sally, Errors and Omissions insurance program leader for Swiss Re's Commercial Insurance. "We will continue to use our years of underwriting, deep industry knowledge, and claims expertise to best serve our clients' professional liability needs."
'This is a tremendous opportunity for independent agents to purchase their coverage through a Big 'I' state association as it is available to any agency,' said Ronnie Tubertini, Chair of the Big "I"'s Professional Liability Committee. 'Agencies can avail themselves of much higher excess limits than we generally see in the market and obtain the expertise available through the Big 'I' program at the same time.'
Policies are written on non-admitted paper from First Specialty Insurance Corporation, and are backed by Swiss Re's financial strength and A+ (Superior) A.M. Best rating. First Specialty products are available only through licensed surplus lines brokers.
For those seeking to apply for this coverage, please refer to www.independentagent.com/eocontact for your local IIABA E&O contact. All applications for this product must be submitted through the Big I Markets, just like the primary non-admitted product offered through the Big "I" program. All underwriting authority for this product remains with Swiss Re subsidiary First Specialty.
Swiss Re is the world's leading and most diversified global reinsurer. The company operates through offices in more than 25 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company's traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Re is rated "AA-" by Standard, Poor's, "Aa2" by Moody's and "A+" by A.M. Best.
Swiss Re's Commercial Insurance protects insureds with specialized needs in niche markets in the U.S. and Canada. Products include property and casualty insurance, professional liability insurance, excess medical expense and risk management services. Swiss Re's Commercial Insurance has served the primary insurance community since 1908 and is committed to providing service, creative solutions and security for its clients. Swiss Re's Commercial Insurance subsidiaries serve clients in property and casualty insurance, professional liability insurance and commercial risk management services.
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