03/31/2009
E&O coverage clarifications
We recently discovered the need to clarify the requirements related to the Errors & Omission (E&O) coverage you are required to carry. To that end, we wanted to notify you that we will conduct a clean-up effort of our existing E&O coverage records, along with monthly maintenance audits.
Summary of Regence E&O coverage requirements
Regence requires any insurance agency or stand-alone agent with whom Regence contracts to be covered by an E&O policy issued in the name of the insurance agency or stand-alone agent with whom Regence contracts.
There is an additional requirement that each of the insurance agency's authorized producers also at all times be covered under an E&O policy. The E&O policy covering the insurance agency's authorized producers can either be coverage as an "additional insured" under the insurance agency's policy, or coverage under a separate E&O policy issued in the name of the individual authorized producer.
In the coming months we will contact each agent or agency whose E&O policy will soon expire to request compliance with the above requirements. See our FAQ for additional information.
We are here to support you through this process, so please contact our Agent Desk by email or by calling (503) 225-4960 or 1(800) 452-7278, ext. 4960.
If you have any additional questions, please talk to your Regence Sales contact.
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