Errors and Omissions insurance is commonly abbreviated as E&O insurance. It is also called professional liability insurance, or professional indemnity insurance. It is a method used by insurance agents who offer advice and services to their clients to help protect them from their customers who may want to sue them. Many business professionals fall at risk to being sued by a customer that misunderstands their E&O policy and coverages. Their customers may claim that the insurance agent was negligent in properly explaining the benefits of their policy, and more importantly, the exclusions and limitations. Errors and Omissions insurance policies are written by legal firms to protect the insurance company from their customers against such claims and lawsuits, whether real or frivolous. A civil lawsuit can award monetary damages of over $1,000,000 due to an alleged error or omission by the insurance agent.
As a Health and Life insurance agent you may also sell the products of; Medicare, Disability, Long Term Care, Accident, Critical Illness, and several other Ancillary products. Many times these additional lines will greatly increase your sales amount and income level. You may also find that customers that have multiple products with you will remain with you on your books longer. They may even refer their friends, family and colleges to you. You will find, as you grow your business, that referrals and renewals are the foundation to a strong, healthy, and long-term business.
Most Errors and Omissions insurance policies are written in such legal-eeze that the average person cannot understand what they mean. This is to the benefit of the large insurance corporation. They typically hide exclusions, limitations, and conditions of coverage within the legal and fine print. Many won’t even give you a sample policy outline until you have gone through their tedious application and underwriting process. This manipulative business practice is unfortunately common in the insurance industry. They may quote you a low annual premium up front, but by the time you have endured the gauntlet of red tape, endless paperwork, delays, policy exclusions, riders and rate ups, you may have a rate that is double what you started with. Then, every 6 months you can expect a single digit rate increase on your policy. Getting a claim paid is normally a long and difficult process. You will be likely be cancelled if you ever have a claim.
You don’t have to settle for the typical “insurance” games and run-around. ACE Financial Group Ltd proudly breaks the mold. ACE offer a customizable E&O Policy, where you can select each individual coverage type you need. Therefore, you only pay for the exact coverage and product that you sell. You may upgrade or down grade at any time. If you’re searching for the lowest price on your E &O, you’ve found it with ACE Financial, as they offer a Lowest Rate In The Industry, Guaranteed. They will beat any competitor’s rate by 10%, every time! Simply click on the "Instant Quote" link below to take advantage of their quick and easy online quote and application process.
Errors and Omissions Insurance Policies are also riddled with many limitations, exclusions, riders, rate-ups and limits, written in a legalize boilerplate format in order to shield the insurance company from ever paying out in a claim. As the business owner, you need to be very savvy against their manipulation by considering an alternative to their insurance policy games.
Therefore, ACE Financial does not offer an insurance product, but a very effective alternative to insurance by using a risk-sharing group of like-minded industry professionals. We protect our own family by grouping together these low-risk professionals in a policy that is designed and customized to protect them in an honest, practical, cost saving manner. This allows ACE Financial to offer one of the lowest rates in the industry. This risk-sharing method has legally and effectively been used for hundreds of years successfully with farmers, churches, many other professions and governmental agencies.
At ACE Financial, we offer errors and omissions coverage tailored to your specific needs and budget. We understand the unique risks and challenges that you face as a professional in your occupation. We can help you find the best policy that suits your personal and professional needs. We can also provide you with a certificate of liability coverage that you can use to prove your coverage to your clients or partners.
Don't let an unexpected claim or lawsuit ruin your business. Contact us today to get a free quote and learn more about our errors and omissions coverage options. We are here to help you protect your business with confidence and peace of mind.
For personalized advice, to explore the best coverage options for your business, and to get a low rate quote, reach out to our expert customer service advisors today.
For specific insurance details, terms, and conditions, please consult with a licensed insurance professional. The information provided here is for informational purposes only and does not constitute legal or financial advice.