Company History
E&O Plus was created in 1986 when the standard market for errors and omissions coverage wasn’t sufficient for many large independent agents and brokers who were not only expanding but also becoming more complex. As business continues to change, E&O Plus has grown and changed with the industry to serve and meet the needs of the best independent agents and brokers across the United States.
Company Founders
Assurex Global and The Council of Insurance Agents & Brokers (CIAB) recognized the need for specialized professional liability coverage to meet the needs of these unique firms. Further, these firms need a sound quality management program to enhance operations and support the expected growth. As a result, E&O Plus was formed. We blanket our insureds with a comprehensive E&O package that delivers not just an insurance policy, but offers stability, customized quality management, and a proven return on investment. The program is supported by Swiss Re Corporate Solutions Capacity Insurance Corporation a major provider of agency E&O for over 35 years.
Assurex Global
Founded in 1954 and the world’s largest partnership of independent agents and brokers with over $40B in annual premium volume, Assurex Global has access to over 30,000 insurance professionals worldwide. This provides an exclusive, up-front view of emerging trends and best-practices, which makes Assurex Global uniquely qualified to direct the Quality Management Program for E&O Plus. For over 38 years, Assurex Global has been leading the program’s commitment to quality and excellence.
The Council of Insurance Agents & Brokers (CIAB)
The Council of Insurance Agents & Brokers is the premier association for commercial insurance and employee benefits intermediaries in the United States and abroad. With expansive international reach, The Council fosters industry-wide relationships around the globe by engaging lawmakers, regulators and stakeholders to promote the interests of its members and the valuable role they play in the mitigation of risk for their clients. The resulting interactions make the CIAB another valuable resource for E&O Plus program development and evolution.
Swiss Re Corporate Solutions
The program is underwritten by Swiss Re Corporate Solutions Capacity Insurance Corporation, a subsidiary of Swiss Re Corporate Solutions Group. It is open to any firm that meets the stringent underwriting criteria set by the Program’s Underwriting Committee and Swiss Re. Swiss Re Corporate Solutions has been writing Agent’s E&O for over 35 years.
Professional Agencies Reinsurance, Ltd. (PAR, Ltd.)
Domiciled in Bermuda, PAR, Ltd. provides E&O Plus insureds with the benefits of captive ownership, which serves as an investment vehicle for the program’s policyholders. Because firms are shareholders and active participants, they are further incentivized to follow the Quality Management Program in order to fully maximize financial gain. Many of the first E&O Plus insureds (from our 1986 inception) remain as shareholders today, a remarkable testament to the effectiveness of our program. Additionally, in 2016, PAR, Ltd. was inducted into the Bermuda captive hall of fame.E&O Plus Team
To learn more, or see if your firm is eligible for the E&O Plus program, call Shawn Buicko at 614.429.8478.