As a licensed health insurance agent, broker or consultant, you risk the possibility of a claim or lawsuit every time you perform your professional services. And even if you have some type of coverage in place, it may not adequately protect you.

That is why thousands of health insurance professionals have chosen to protect themselves by purchasing the Travelers 1st Choice+^® for Insurance Professionals Program, the only E&O plan fully endorsed by NABIP.

NABIP has researched all the major insurance programs in the marketplace and has only chosen to endorse this program offered through Association Member Benefits Advisors and underwritten by Travelers Casualty and Surety Company of America, Hartford, CT 06183.

You can trust AMBA to custom-tailor an individual policy to meet your needs. AMBA has an outstanding reputation for offering superior products, quality services and expertise in the professional liability marketplace. We’ve been helping NABIP members understand their need for E&O coverage since 1999.

Specifically written to cover the practices of health insurance professionals including …

• Health & Life business
• Annuities
• Network and Information Security Offense
• Crisis Event Expense
And Optional:
• Mutual Funds
• Property & Casualty business
• Cyber Protection
  

Choice of Limits

Wider range of limits available with a maximum limit of $5,000,000/$5,000,000:

• $100,000/$300,000
• $250,000/$750,000
• $500,000/$1,500,000
• $1,000,000/$3,000,000
  
  

Choice of Deductibles

• $2,500
• $5,000
• $7,500
• $10,000
• $15,000
• $25,000
• $50,000
• $100,000
  
  

Coverage for all claims and losses depends on actual policy provisions. Availability of coverage can depend on underwriting qualifications and state regulations.

Travelers 1st Choice+® for Insurance Professionals provides you with coverage options to help protect your business.

Automatically included within the Travelers1st Choice+® for Insurance Professionals coverage:

• Network and Information Security Liability:
  • Network and Information Security Offense Coverage is automatically included in the Travelers 1st Choice+® for Insurance Professionals Program, up to your available policy limit.
  • Network and Information Security Offense Coverage helps protect you if you are sued as a result of a network or information security breach.
• Crisis Event Expenses:
  • You will be reimbursed for Crisis Event Expenses up to $10,000 for each crisis event/$30,000 for all crisis events related to a network or security breach.

Additional cyber protection provided by optional endorsement: 

• Security Breach Remediation and Notification Expense: Coverage for certain costs associated with notification of individuals affected by a data breach, including computer forensics expenses and legal service expenses, one year or longer as required by applicable breach notification laws for 365 days, and call center assistance to handle inquiries.
• Regulatory Defense Cost Coverage: Coverage for governmental claims made as a result of network and information security liability or communications liability.
• Holistic Risk Protection: Included at no additional cost with any optional cyber endorsement – your business will have access to the Travelers eRiskHub^® - an information portal that includes pre- and post-event benefits including:
  • HIPAA Coach service, a 1-hour consultation to identify cyber-related issues raised by HIPAA
  • A 30-minute consultation with an attorney specializing in legal matters relating to data breach
  • A sample incident roadmap for dealing with a privacy breach
  • Tools to build privacy controls, information and IT security programs
  • Calculators to estimate potential costs of an event
  • Listing of experts who help customers build/improve cyber programs
  • Statutory, regulatory and case law updates on privacy liability and notification obligations

Protection for Carrier Insolvency¹

As long as the products you sell are fully insured by an admitted carrier that is rated A- or better by A.M. Best on the date the policy last became effective with the insurer, the policy protects you against legal liability as a result of future insolvency of the carrier.

¹Association Member Benefits Advisors, LLC. makes no representations or warranties, expressed or implied, concerning the financial condition or solvency of any insurers. A.M. Best’s Ratings are under continuous review and subject to change and/or affirmation. For the latest Best’s Ratings and Best’s Company Reports (which include Best’s Ratings), visit the A.M. Best website at http://www.ambest.com. See Guide to Best’s Ratings for explanation of use and charges. Best’s Ratings reproduced herein appear under license from A.M. Best and do not constitute, either expressly or impliedly, an endorsement of AMBA or its recommendations, formulas, criteria or comparisons to any other ratings, rating scales or rating organizations which are published or referenced herein. A.M. Best is not responsible for transcription errors made in presenting Best’s Ratings. Best’s Ratings are proprietary and may not be reproduced or distributed without the express written permission of A.M. Best Company.

Protection Against Personal Injury Lawsuits

The policy covers personal injury lawsuits resulting from slander, libel, invasion of privacy or false arrest while performing professional services as an insurance agent or broker.

Coverage for You as an Individual Agent

Coverage is available for you as a health insurance agent, general agent or broker and that coverage extends to your nonlicensed administrative staff employees. (If you have independent contractors/sub-agents, need property and casualty coverage, or write self-insured/self-funded business, you must complete the agency application and applicable supplements).

Benefit Features:

• Pure Claims-Made Policy
• Pre-Claim Assistance
• Network and Information Security Offense Coverage
• Optional Security Breach Remediation and Notification Expense Coverage
• Crisis Event Expenses Reimbursement (including cyber related events)
• Disciplinary and Regulatory Proceeding Expense Reimbursement
• Acquired Entities (automatic coverage for 90 days or end of the policy year, whichever comes first)
• Automatic 60-Day Extended Reporting Period
• Loss of Earnings Reimbursement ($500 per day/$15,000 per policy year for Loss of Earnings)
• Mediation Deductible Credit (reduces deductible by 50% if insured agrees to settlement within 30 days following voluntary mediation)
• Predecessor Firm Coverage
• Optional coverage for Registered Representatives Sale and Servicing of Mutual Funds
• Personal Injury Offense

Answers about the plan, including eligibility, options, enrollment, customer service and more.