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INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS

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Page 1: INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS. What is Errors & Omissions?  Errors & Omissions, or E & O, is a type of Professional Liability insurance

INSURE AMERICATRAVEL AGENT

ERRORS & OMISSIONS

Page 2: INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS. What is Errors & Omissions?  Errors & Omissions, or E & O, is a type of Professional Liability insurance

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.

Page 3: INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS. What is Errors & Omissions?  Errors & Omissions, or E & O, is a type of Professional Liability insurance

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.

Page 4: INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS. What is Errors & Omissions?  Errors & Omissions, or E & O, is a type of Professional Liability insurance

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.

Page 5: INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS. What is Errors & Omissions?  Errors & Omissions, or E & O, is a type of Professional Liability insurance

E & O Coverages: Bodily Injury Property Damage Financial Loss Personal Injury

Page 6: INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS. What is Errors & Omissions?  Errors & Omissions, or E & O, is a type of Professional Liability insurance

Optional Coverages: Home Based Agents Third- Party Travel Supplier Bankruptcy Limited Form Advertising Injury Additional Insured’s Prior Acts Offered to Qualified Applicants

Page 7: INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS. What is Errors & Omissions?  Errors & Omissions, or E & O, is a type of Professional Liability insurance

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

Page 8: INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS. What is Errors & Omissions?  Errors & Omissions, or E & O, is a type of Professional Liability insurance

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.

Page 9: INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS. What is Errors & Omissions?  Errors & Omissions, or E & O, is a type of Professional Liability insurance

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

Page 10: INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS. What is Errors & Omissions?  Errors & Omissions, or E & O, is a type of Professional Liability insurance

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

Page 11: INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS. What is Errors & Omissions?  Errors & Omissions, or E & O, is a type of Professional Liability 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]

Page 12: INSURE AMERICA TRAVEL AGENT ERRORS & OMISSIONS. What is Errors & Omissions?  Errors & Omissions, or E & O, is a type of Professional Liability insurance

Thank you!