NAPA IMO E&O Insurance | Errors & Omissions Insurance for Life & Health IMOs, General Agencies & FMOs

Why does my IMO need E&O Insurance?

An Insurance Marketing Organization (IMO) needs Errors & Omissions (E&O) Insurance to protect against costly lawsuits arising from mistakes, omissions or alleged negligence when agents are working with clients. This essential coverage helps pay for legal defense, settlements, or judgments, protecting the IMO’s finances, brand reputation, and compliance standing. Many insurance carriers require E&O coverage before contracting with an IMO, so having a policy in place is critical for business growth and long-term success.

What does IMO Entity E&O Insurance cover?

If the insured IMO is named in a client's lawsuit for an error, omission or alleged negligence—resulting from the work of agent(s) on behalf of the IMO and while selling or servicing a covered insurance or financial product—it could cost your business thousands of dollars to defend. If the IMO is found to have liability, and a judgment is levied against you in a court of law, you may also be responsible for settlement costs. Having an Entity E&O insurance policy in place provides you with expert legal counsel in the event of a claim and helps protect your IMO's current and future earnings. It also safeguards your business and personal assets against the high costs associated with client litigation and court settlements.

Does IMO Entity E&O Insurance protect my downline agents?

Entity Errors & Omissions (E&O) Insurance can protect your downline agents in the event of a claim, but only when they're working on behalf of the insured IMO. If your downline agents conduct independent business outside the insured IMO, they will generally need to obtain their own Agent E&O Insurance policy. Agents can purchase a policy themselves through NAPA, starting at $26.25 a month with included member benefits. If your IMO has more than 15 downline agents and is looking to add more, NAPA offers a Private Label E&O Insurance program for IMOs where you can receive a custom-branded NAPA webpage, application and co-branded marketing materials.

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Frequently Asked Questions

Why does my IMO need E&O Insurance?

What does IMO Entity E&O Insurance cover?

Does IMO Entity E&O Insurance protect my downline agents?

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IMOs, FMOs & NMOs