Many people have heard of error and omissions insurance, but what about errors & omissions insurance for insurance agents? This is an important part of helping to protect any sort of consulting company from mistakes that may arise. It might sound funny to say that insurance agents need insurance. If one really examines the work that an insurance agent does, however, the fact that insurance agents need insurance can make perfect sense.
When dealing with consulting other people and such a consultation ends with a client coming to some sort of financial or monetary harm, the consulter runs the risk of possibly being sued. Errors & omissions insurance for insurance agents can help pay for a defense in such certain cases. With an active policy in place and so long as the situation is covered in the policy, an insurance agent can probably expect that once a deductible is paid, the insurance policy will help pay to defend him or her for the remainder of the case.
When examined in this light, it becomes quite clear that even insurance agents can benefit from errors & omissions insurance for insurance agents. Should something go wrong and a mistake is made, even insurance agents might need some sort of help instead of having no choice but to pay thousands of dollars for a lawsuit. Thus, even insurance for insurance agents makes sense.