Swiss Re's Commercial Insurance offers Agency Shield Program™ to help insurance agencies reduce E&O exposure and increase profitability
29 October 2008, Overland Park
Swiss Re's Commercial Insurance today announced the introduction of the new Agency Shield Program™for their Insurance Agency Errors and Omissions (E&O) policyholders. The Agency Shield Program™ is a value added loss control service and self-assessment program especially designed for insurance agencies. The Agency Shield Program™ helps agencies reduce their E&O exposure, improve client service and build sustainable businesses. This new offering in the US marketplace is endorsed by the Independent Insurance Agents & Brokers of America (IIABA , also known as the Big "I") and available for purchase through IIABA state associations. It is available only to Swiss Re policyholders written through the Big "I" Professional Liability Program.
The Swiss Re Agency Shield Program™ is focused on reducing E&O claims costs by enabling the agency to do a comprehensive review and evaluation of the agencies processes, procedures and guidelines. Swiss Re policyholders completing the Agency Shield Program™ will receive program accreditation and a 10% E&O premium credit good for three years.* The procedures analysis featured in the Agency Shield Program™ enables easy implementation of standardized processes to help avoid future E&O claims.
"We are excited to offer this value added service to our E&O customers through IIABA state associations," said Sabrena Sally, Senior Vice President and Underwriting Leader for Swiss Re's US Insurance Agency E&O. "The Agency Shield Program™ provides our policyholders with a more comprehensive understanding of risk management procedures and processes that they need to protect themselves and grow their business."
The Agency Shield Program™ was reviewed by Big "I" volunteer agency leaders and state and national staff and is aimed at effectively reducing the factors driving E&O claims in agencies.
"The Agency Shield Program™ provides the comprehensive risk analysis techniques agencies need to follow to limit their E&O exposure and all the direct and indirect costs of being involved in an E&O claim. It is affordable, easy for the average agency to implement and there is a real incentive with the premium credit to complete it," said Jack Sherrill, Chairman of the Big 'I''s Loss Control Working Group.
For more information, contact the applicable state IIABA association at www.iiaba.com/eocontact.
*Subject to state Dept of Ins. of approval.
Notes to editors
Swiss Reinsurance Company Ltd
Swiss Re is a leading and highly 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
Swiss Re's Commercial Insurance protects insureds with specialized needs in niche markets in the US and Canada. Products include property and casualty insurance, professional liability insurance, excess medical expense insurance 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.
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