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Insurance Coverage for Your Agency

Big "I" Professional Liability Program

Your Trusted Source for Insurance Agents & Brokers E&O
For over 25 years, the Big "I" Professional Liability Program underwritten by Westport Insurance Corporation (rated "Excellent" by A.M. Best) has been the premiere choice of IIA of Arkansas member agents for insurance agents and brokers E&O insurance.

Not Just an E&O Policy, A Comprehensive Program

The Big I Professional Liability Program offers not just a policy but a comprehensive program for insurance agents. Over the past two decades the Big I Professional Liability Program, underwritten by Westport Insurance, has grown into  the largest and most stable insurance agents E&O program in the nation. Our member agents look to the program for stable rates and a long-term market that they can rely on to protect their greatest assetstheir businesses.

Working with our partners at Swiss Re, we have created one of the strongest and broadest coverages in the marketplace. Structured using a modular approach, our policy provides solid core coverage, as well as coverage units to insure against other exposures of concern. These are just a few of the coverage benefits of the Swiss Re policy: 

         Coverage for the sale of both P/C and Life and Health insurance products 

         Limits of liability up to $15 million 

         Broad definition of covered professional services and activities 

         Comprehensive definition of who is an insured 

         Aggregate deductibles 

         Defense cost outside the limits 

         Available first dollar defense 

         Full prior acts available 

         No contractual liability exclusion 

         Coverage for punitive damages (where available by states) 

         Multiple extended reporting period options 

         True worldwide protection 

         Coverage for advertising, libel and slander 

         Available coverage units:

*Employment Practices Liability*

*Real Estate Agents E&O*



An insured who obtains their professional liability coverage for insurance producers through the Independent Insurance Agents of Arkansas sponsored program will earn a 10% credit on their total annual premium, if they attend an approved loss control seminar and have a three-year claim-free history. This credit will apply to the annual premium due as of the next policy anniversary date or policy inception date and, depending on continued loss free experience, will continue for two additional consecutive policy years after attending the seminar, for a total of three policy periods.
*You must have a three-year claim-free history to receive this credit.

To apply for coverage, complete the Westport E&O application and forward it to Debbie Ball. Westports renewal applications are individualized and will be sent to the agency directly approximately 60 days before your expiration date. 


Coverage Highlights and Benefits: Firemans Fund
With more than 25 years of experience, Firemans Fund is an industry leader in providing E&O liability coverage for agents and brokers - one of the biggest issues they face in an increasingly complex world. The company is one of the largest writers of agents E&O coverage in the country.
Coverage Highlights
         State of the art coverage form, exclusive to Big "I" members
         $50,000 first party personal data compromise breach response for the accidental loss of client data, with optional higher limits available
         First claim deductible is waived if you have been insured and claims free with Firemans Fund for five or more years
         80/20 consent to settle clause
         True worldwide territory coverage
         Insolvency coverage for all carriers with B+ or better A.M. Best rating
         90 day notice of merger or acquisition
         $10,000/$30,000 catastrophe claims extra expense included at no additional premium
         $35,000 regulatory investigation defense expense coverage per policy period
         60 days after expiration to report claims and purchase extended reporting provision
         $500 per day supplementary payments for expenses incurred in aiding the defense of a claim
         Aggregate deductible applies
         Claims made policy form
         Defense outside the limit
         Broad definition of who is an insured, including spousal or domestic partner liability
         Limits of liability available to $10 million
Penn National Commercial Umbrella

The IIA of Arkansas Insurance Agents Umbrella Program, underwritten by Penn National Insurance, offers the most comprehensive and affordable excess insurance protection available, packaged into one easy-to-manage policy. Most importantly, the umbrella can extend excess coverage for underlying insurance agents/agency's professional liability policies.

Coverage Highlights & Availibility 

Click here to download the Penn National Commercial Umbrella Application-PDF Version

Employers Practice Liability
In today's litigious environment, the protection afforded by Employment Practices Liability Insurance (EPLI) coverage has become more valuable than ever. EPLI provides defense and indemnity protection against claims arising from the employer/employee relationship.

EPLI /ERC Stand-Alone Application

Capture.JPGIIAAR has partnered with Arlington/Roe & Co., Inc. to offer members an exclusive program to help protect their agencies from data security breaches. It offers the following benefits:

  • No encryption required
  • HIPAA compliance tools
  • Step-By-Step compliance procedures 
  • Newsletters on data security management
  • Data-breach coach to help with notification
  • Forensic investigators
  • Privacy counsel
  • Call center
  • Credit restoration services
  • Staff training programs
  • Regulatory fines and penalties coverage
  • Public Relations coverage
  • Notification costs outside liability limits
  • Credit monitoring
  • Security & privacy liability

Responding to a data breach is a costly and complicated process requiring assistance from many different professionals. The average cost of notification-law compliance is $200,000, and failing to notify affected individuals "without unreasonable delay" could cost your agency up to $1.5 million in fines. 

All that with the legal liability and the reputational harm caused by the breach, and it's not hard to understand how 80 percent of businesses that experience a data breach end up going out of business as a result.

Causes of the 563.9 million records breached since 2005:

  • 56%  Hacking or malware  Electronic entry by an outside party.
  • 30%  Portable device  Lost, discarded or stolen laptop, PDA, smartphone, portable memory device, CD, hard drive, data tape, etc.
  • 6% Insider  Someone with legitimate access intentionally breaches information, such as an employee or contractor.
  • 4% Unintended disclosure  Sensitive information posted publicly on a website, mishandled or sent to the wrong party via email, fax or mail.
  • 1% Stationary device  Lost, discarded or stolen stationary electronic device such as a computer or server not designed for mobility.
  • 1% Payment card fraud  Fraud involving debit and credit cards that is not accomplished via hacking. For example, skimming devices.
  • 1% Physical loss  Lost, discarded or stolen non-electronic records, such as paper documents.1% Unknown/ other.

Binding Coverage is easy as 1,2,3
  • Choose the option number and premium from the pricing sheet.  Make check payable to: IIAAR.
  • Complete the application and addendum attached.
  • Attach the check to the application/addendum and mail to: