Assurant Health Agent Errors & Omissions Program
2015 Policy Changes
- Newly Licensed Agent – added definition of Newly Licensed Agent and amended Prior Acts Date. I will also add a limit option to the Dec page for Newly Licensed Agents. I tied the definition of Newly Licensed Agent to that of Agent or General Agent, so I don’t need to add it to Insured, Professional Services, etc.
- Added Unsolicited Communications exclusion (exclusion AB.)
- Amended Intentional Acts exclusion (exclusion D.)
- Amended Commingling/Illegal Profit exclusion (exclusion I.)
- You must be actively contracted with Assurant Health at the time of your effective date under this policy in order to be eligible for coverage
- If you become disabled or fully retire, you will receive an unlimited Extended Reporting Period
E&O Program Highlights
- Option A: Limit of liability $1,000,000 each claim subject to an annual aggregate of $3,000,000 each agent each policy period
- Option B: Limit of liability $2,000,000 each claim subject to an annual aggregate of $3,000,000 each agent each policy period
- Pay in full or choose monthly payments via credit card or electronic funds transfer (EFT)
- Basic coverage includes the sale and servicing of life, accident and health, LTC, fixed and indexed annuities, disability income activities as well as mutual funds, variable life and variable annuities (Series 6) through any FINRA-registered broker/dealer
- $100.00 for products offered by Assurant Health
- $2,500.00 for claims for products of other companies
- Prior Acts Coverage for Assurant Health product related claims back to the earlier of:
- Your original continuously maintained contract with Assurant Health
- The first effective date of continuously maintained E&O coverage
- Automatic unlimited extended claim reporting for no additional charge
- $50,000,000 total annual aggregate policy liability limit - does not apply in NY
- View Policy
- Program Overview
Rates & Pricing
This policy renews on May 1st of each year. Premiums are prorated to allow for mid- policy enrollment.
Pricing includes $25.00 Administrative fee and $5.00 monthly processing fee for monthly payment option. Down payment includes one month's premium & administrative fees. Down payments will be processed immediately; monthly deductions as shown above will begin the third business day of the month after enrollment.
Policy is subject to minimum earned premium equal to one month of premium. Administrative fees and minimum earned premium are non-refundable.