Yes, NAPA's Insurance Agency E&O Insurance protects your retail agency's agents and administrative staff. This includes employees and independent contractors who write for your agency and receive commissions for their work. However, this policy does not protect agents that write directly with a carrier under their own name, with your agency receiving an override.
If your agency makes an error or omission in the sale or servicing of a covered insurance or financial product, it can trigger a client lawsuit that can cost thousands of dollars to defend. If you are found liable, and a judgment is levied against you in a court of law, you may also be responsible for settlement costs. Having an E&O insurance policy in place provides you with expert legal counsel in the event of a claim and helps protect your current and future earnings. It also safeguards your business and personal assets against the high costs associated with client litigation and court settlements.
NAPA E&O insurance policies are specifically designed to protect insurance agencies and the products they sell and service. This includes life, accident and health products for Life & Health Agencies and auto, homeowners and renters for Property & Casualty Agencies, among numerous other covered products. We offer various coverage choices to fit your agency best, so be sure to review all options and the policy details to determine the best solution for your agency. If you have any questions along the way, start a chat or give us a call!
Why NAPA
Our service
Since 1989, the NAPA has assisted insurance professionals with exceptional insurance coverage and benefits. We live up to our service claims: our first-class, licensed customer advocates are just a call or chat away to lend a hand in ensuring that your experience with NAPA is exceptional.
Our coverage
NAPA's Insurance Agency E&O Insurance is backed by an "A+" rated insurance carrier, so you can trust that you're protected in the event of a claim. We strive for affordability without making sacrifices to our coverage or services.
When you purchase NAPA's E&O Insurance for your agency, you'll receive instant access to a curated collection of benefits, including group-preferred rates on other insurance programs for your business and agents, plus savings on office supplies, shipping, services, travel and more.
Very happy with NAPA. I especially appreciate the member benefits that save my thousands a year. The savings more than covers the E&O Premiums.
Donna K.
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In my years of service with NAPA, I have had a great experience being in business with them. Very reliable for independent agents out in the industry.
Ismail K.
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The website was easy to use and so quick! I was able to apply for the coverage needed and had the COI immediately. Great experience.
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Deana P.
How We Stack Up
With NAPA, you can trust that your coverage has an advantage over the other policies out there. Affordable, upfront pricing, no hidden fees, U.S.-based customer service, comprehensive coverage options ...the list goes on.
Life & Health Agencies receive protection for the sale and service of various life and health products, as well as personal lines Property & Casualty products. At least 51% of your agency's revenue must be derived from life and health products to purchase this E&O coverage for your business.
Property & Casualty Agencies receive protection for the sale and service of various P&C products, with options to add coverage for Life & Health products. At least 51% of your agency's revenue must be derived from property and casualty products to purchase this E&O coverage for your business.
If you have a business with more than one producer, you'll need agency E&O insurance to protect the written business under the agency's name. Individuals with agency names but just one producer may apply for Individual E&O Insurance.
Have An IMO, FMO or General Agency? This policy is NOT designed to protect marketing organizations, and will only protect Retail Agencies from E&O claims.
Before applying, you'll need to choose between the Life & Health Agency E&O and Property & Casualty Agency E&O options. If you sell both types of products, either option has the ability to add products on from the other, so simply select the program that matches what your business sells more of (51% or greater) and add the additional products you need.
†Not applicable to to agents and registered representatives who are residents of or practice in New York State. Please refer to the policy for complete coverage details.
$0 for claims arising from life, health, disability, long-term care products and annuities (other than indexed annuities)
$5,000 for claims arising from indexed annuities, variable products, mutual funds or other securities
$5,000 for claims involving personal lines property & casualty insurance
$10,000 for claims involving commercial lines insurance
$25,000 for Flood & Earthquake Insurance: Flood & Earthquake Insurance is subject to a $100,000/$100,000/$1,000,000 sublimit
$25,000 for Expanded Property and Casualty Commercial Lines Coverage Endorsement, subject to a $100,000/$100,000/$1,000,000 sublimit
Life & Health Agency E&O: Covered Products
Level 1 coverage includes: Life, Accident, Health, Disability, LTC, including Medicare Advantage & Medicare Supplement Plans, Indexed Life and Fixed & Indexed Annuities and Variable Products & Mutual Funds.
Level 1 also covers Personal Lines P&C products, including Auto, Recreational Vehicles, Watercraft, Motorcycle, Homeowners, Renters, Personal Umbrellas, Pet Insurance and Flood. Other commercial and personal lines are excluded. Coverage is limited to admitted carriers only.
Additional coverage levels are available for commercial lines (Level 2) and expanded commercial lines/surplus lines (Level 3) for additional premium.
Details on the covered products for Level 2 and Level 3 can be found to the right or the full policy details.
Life & Health Agency E&O: Covered Products
Level 1 coverage includes: Life, Accident, Health, Disability, LTC, including Medicare Advantage & Medicare Supplement Plans, Indexed Life and Fixed & Indexed Annuities and Variable Products & Mutual Funds.
Level 1 also covers Personal Lines P&C products, including Auto, Recreational Vehicles, Watercraft, Motorcycle, Homeowners, Renters, Personal Umbrellas, Pet Insurance and Flood. Other commercial and personal lines are excluded. Coverage is limited to admitted carriers only.
Additional coverage levels are available for commercial lines (Level 2) and expanded commercial lines/surplus lines (Level 3) for additional premium.
Details on the covered products for Level 2 and Level 3 can be found in the P&C Agency bullet or the full policy details page.
Property & Casualty Agency E&O: Covered Products
Level 1 coverage includes personal lines P&C products: Auto, Recreational Vehicles, Watercraft, Motorcycle, Homeowners, Renters, Personal Umbrellas, Pet Insurance and Flood. Other commercial and personal lines are excluded. Coverage is limited to admitted carriers only.
For additional premium, Level 2 includes Level 1 coverage PLUS commercial lines P&C coverage for Workers' Compensation and Employers Liability, General and Product Liability, Business Owners and Commercial Multi-Peril, Auto (other than Long Haul Trucking), Property, and Flood. Other commercial and personal lines are excluded. Coverage is limited to admitted carriers only.
Level 3 includes Level 2 coverage PLUS Expanded Commercial Lines coverage for Inland Marine, Medical Malpractice and Professional Liability, Directors & Officers Liability, Employment Practice Liability, Fidelity, Surety, Crop, Hail, Wind, and Earthquake. Sublimits & exclusions apply. See policy for full details.
