insure america travel agent errors & omissions. what is errors & omissions? errors &...
TRANSCRIPT
INSURE AMERICATRAVEL AGENT
ERRORS & OMISSIONS
What is Errors & Omissions? Errors & Omissions, or E & O, is a type of
Professional Liability insurance that insures a person or entity against claims made by third parties alleging negligence, errors or mistakes in the professional services that they offer.
Why is E & O Important to have? Accidents happen. Which is why you have auto and
medical insurance. Your business is your livelihood and should be protected as well.
Even if it turns out that you have done nothing wrong, you could still be faced with thousands of dollars in defense costs.
E & O insurance can help minimize the financial burden you may face should you have to defend yourself.
Examples of E & O Claims: A client is booked into a room identified as
ocean view. The client arrives to find out that their room does not have a view of the ocean.
An agent mistakenly books an airline ticket from JFK to AMD instead of JFK to AMS.
E & O Coverages: Bodily Injury Property Damage Financial Loss Personal Injury
Optional Coverages: Home Based Agents Third- Party Travel Supplier Bankruptcy Limited Form Advertising Injury Additional Insured’s Prior Acts Offered to Qualified Applicants
Optional Coverages: Retail Agents Limited Form Advertising Injury Broad Form Advertising Injury Increased Fire Legal Limit Increased Medical Payments Additional Insured’s Prior Acts Offered to Qualified Applicants
Limits of Liability & Deductibles: The insurance program offers a wide range of
limits ranging from $100,000/$100,000 (Per Occurrence Limit/Annual Aggregate Limit) to $5,000,000.
Deductibles range from $500 to $25,000.
How Are Rates Determined? The policy premium is based on a number of
factors which may include: The nature of the travel services provided Years of experience Internal quality controls Professional certification Annual gross receipts Claims history
Before You Apply Annual Gross Receipts If you have coverage that will be expiring
Copy of your existing declarations page Any applicable retroactive or prior acts date A review of your claims history for the past 5 years
Names and addresses of any additional insureds or entities that require certificates of insurance
INSURE AMERICA CONTACT INFORMATION
Address: 22 E. Mifflin Ste 1000
Madison, WI 53703
Phone: (866) 375-3838
Fax: (715) 342-3542
Email: [email protected]
Thank you!