Zurich U.S. Offers Its Agents Errors and Omissions Policies.

Captive agents can now buy errors and omissions coverage from Zurich U.S.

The property/casualty agents' product provides E&O coverage for claims made against the agents of the sponsoring company who are involved in the sale and servicing of property/casualty insurance. The policy also provides vicarious liability insurance to the sponsoring company for acts committed by their agents.

Currently, Zurich U.S. insures 35,000 life agents and has a goal of becoming a leading provider in the property/casualty E&O coverage market as well, said Ed Velasquez, senior vice president of the Diversified Financial Institutions group at Zurich U.S.

The Zurich U.S. policy is designed for sponsoring property/casualty companies with an agency force of at least 500 contract agents. Coverage features include duty-to-defend contracts and pay-on-behalf coverage. Enhancements to the coverage include defense costs outside the limit of liability and coverage of the activities of both life insurance agents and registered representatives of sponsors' subsidiary broker/dealers. Insureds would also have access to loss-run data information through Zurich U.S.'s Web-enabled loss reporting tool RiskIntelligence.

The program offers limits of liability up to $3 million per agent and up to a $100 million policy aggregate on both a primary and excess basis.