Wilmington, Del.-based Rockwood Programs has initiated a promotional campaign designed to raise market awareness regarding its Sponsored Errors & Omissions Program. This campaign will be aimed at insurance companies and Managing General Agencies with large sub-producer networks.
Rockwood has been a key source of Insurance Agents professional liability insurance for over six years. The company possesses the systems, underwriting capabilities, marketing expertise, and carrier contacts to tailor a program for virtually every type of distribution network.
The implementation of a Sponsored E&O program benefits all of the parties involved. The group purchasing power of the network will provide individual agents with access to a competitive product they could not obtain on their own. And unlike some other sponsored programs available in the market, this policy covers all of the agents' insurance placements - not just those of the sponsoring insurer.
The insurance carrier endorsing the program also realizes some distinct advantages. It helps mitigate the sponsoring company's own E&O exposure by providing a first line of defense for all producer-related claims. The program also serves to enhance the affinity the entity has with its agency network.
As part of the Sponsored program, Rockwood also offers a compliance verification service. This service will contact every producer within the insurer's network to verify that each individual agent has adequate E&O coverage - even if it wasn't placed within the program.
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