Risk Management Services (RMS) has launched Group Errors & Omissions (E&O) insurance plan for life and health insurance agents in partnership with Gotham Insurance.
The new plan, which is underwritten by Gotham Insurance, offers two coverage options with limits of $500,000 each claim/$500,000 in the aggregate and $1,000,000 each claim/$1,000,000 in the aggregate.
RMS said that a $2,500 deductible applies to both options. The total master policy aggregate is $5,000,000. RMS offers a competitively priced policy starting at $350.
Commenting on the launch, RMS production manager Joanne LaMaestra said that the company is sensitive to the difficulties new agents encounter when they first enter the insurance business.
"Obtaining proper licensing authorities, securing carrier appointments, identifying potential leads, and scheduling sales appointments are only a few of the tasks that must be performed.
"Our simplified, on-line application process allows individuals to secure a quote and bind coverage in minutes," LaMaestra added.