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image of group of agents clappingAs an insurance agent, you understand the risks of running a business. And you use this information to help sell policies to help clients protect their own business endeavors. But have you applied that knowledge to your own agency?

Because your agency offers financial advice to clients, you’re put in a position of responsibility. Any client who experiences a financial loss after working with you may be entitled to make claims against your business, which could have a costly outcome.

However, much like the saying “doctors are the worst patients,” some insurance agents are surprisingly unprepared for these business risks. If you haven’t already, now is a good time to check your agency’s insurance portfolio. Does it include E&O insurance?

E&O insurance is just as important for insurance agencies—and any other business within the financial sector—as property and general liability coverage. You never know when an accident or miscommunication may occur, and E&O insurance may be the only barrier between the agency and serious financial troubles.

It’s easy to add “get E&O insurance” to your to-do list and then sweep it under the rug as more immediately crucial things come up. But it’s best to go ahead and address your coverage now so your agency is prepared in case an incident does occur in the future.

Ready to protect your agency? Call U.S. E&O Brokers at (800) 460-6424 for more information on E&O insurance for insurance agencies.

Posted 1:27 PM

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