Proprietary 8-23 23 ERRORS AND OMISSIONS INSURANCE (E&O) Summary Errors and Omissions (E&O) insurance is critical for all licensed insurance agents and district managers (DMs). The Farmers-sponsored group E&O program is underwritten by Arch Insurance Company and administered by CalSurance Associates, a division of Brown & Brown Program Insurance Services, Inc. Please note that the E&O program is underwritten by Arch Specialty Insurance Company for agents and district managers who are domiciled in New York. The Farmers-sponsored group E&O policy provides certain coverage for claims arising out of an act, error, omission, or Personal Injury committed by the Named Insured or any other covered person for whom the Named Insured is legally liable in the rendering of or failure to render Professional Services for others in the capacity of an insurance agent, registered representative (if appointed with Farmers Financial Solutions, LLC), expert witness, or notary public. All coverage is subject to the terms, conditions, and exclusions of the policy. Who is covered? The Named Insured agent or district manager and all of their staff members are insureds under the policy. The Named Insured shares their limits of liability with all of their office staff members. It is important to note that these parties have coverage while acting on behalf of the Named Insured for no additional premium. Each Named Insured pays one monthly premium. Note, Reserve agents are covered while in a Reserve status at no premium charge with Coverage Level 1 and their own limits of $1M per claim or $2M aggregate each Agency. What is covered? The policy offers three coverage levels. A brief description of each coverage level is included below. Coverage level availability is dependent upon your individual agent appointment date and agreement. If you have questions regarding coverage levels, please contact CalSurance at 866.893.1023. Coverage Level 1 Covered products include Farmers® business (e.g. Foremost®, Bristol West®, 21st Century®), health, business placed through Kraft Lake Insurance Agency Inc.®, securities through FFS, and business placed through other designated entities. Coverage Level 2 This provides all coverage specified in Level 1 and adds coverage for claims arising out of personal lines brokered business. Personal lines brokered business is insurance that is sold to an individual and placed with a non-Farmers entity (e.g. Homeowners, Personal Auto, and Personal Umbrella policies). Coverage Level 3 This provides all coverage specified in Level 1 and Level 2 and adds certain coverage for claims arising out of commercial lines brokered business. Commercial lines brokered business is insurance that is sold to a business and placed with a non-Farmers entity (e.g. General Liability, Commercial Property, Business Owner Packages, and Workers’ Compensation insurance). errors & omissions insurance Any staff members acting on your behalf are automatically covered without an additional premium charge. It is not necessary to notify CalSurance Associates regarding staffing changes unless you would like to increase your limits mid-term due to additional staff.
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