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PIA of Florida Now Writing Exclusive, Agent Owned Errors & Omissions Coverage Through PIAPRO!

Monday, November 21, 2011   (0 Comments)
Posted by: Corey Mathews
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PIA of Florida Now Writing Exclusive, Agent Owned Errors & Omissions Coverage Through PIAPRO!

The PIA of Florida is proud to announce that we are now exclusively writing the only E&O coverage that is owned and operated by and for insurance agents.  Now, more than ever before, agents have the opportunity to sieze control of their E&O risks by holding a stake in their carrier.

Recognizing the growing volatility and challenges in the E&O marketplace, PIA of Florida and national PIA participated in the development and launch of PIAPRO.  This announcement marks the beginning of a new era of agent E&O in Florida, bringing a competitive new admitted carrier to the marketplace and providing an agent-run alternative to the options currently available.

 While agents only a short time ago rarely need rely on errors and omissions protection, it is now a sad reality that we have become the new target for litigation - as noted in the recent PropertyCasulaty360.com article, Agents: Guess the Real E&O ClaimThrough your affiliation with PIA of Florida, we will work tirelessly to control and manage that risk while simultaneouly providing for your protection through E&O coverage.

 Some highlights of the PIAPRO policy include:

  • Pay on behalf of contract
  • Consent to settle does not include a "Hammer Clause" and includes a peer review option
  • Claims expense allowance is outside of policy limits, subject to cap
  • Broad definition of "Insured"
  • Broad definition of "Professional Services" that includes activities like consulting, an instructor of insurance related subjects, insurance expert witness, and others insurance activities
  • Deductible reduction for the use of mediation
  • Pay no more than two deductibles in a policy year
  • Offering a Standard and Enhanced policy
  • Some reimbursement outside of limits and not subject to the deductible for loss of earnings while attending a trial, hearing, arbitration proceeding or regulatory proceeding concerning a covered claim
  • Some expense reimbursement outside of limits and not subject to the deductible for attorney fees and expenses while attending regulatory proceedings

Policy Highlights are for illustrative purposes only. Please contact your PIA state affiliate association for actual policy information and samples of the policy forms.

Best of all, PIA of Florida will offer this new product in addition to our other great admitted program, Navigators, as well as our excess and surplus lines markets.  After all, at PIA of Florida we are committed you to finding you the coverage you need at a price you can afford, while leaving the choices to you.

For more information and to get a quote from PIA of Florida on your E&O renewal, CLICK HERE to visit our Insurance Services page or call our E&O agents at 800/277-1171, option 3.


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