Insurance Agencies

As an insurance agency owner, you're an expert at minimizing your clients' risks. Even so, handling claims, providing financial advice, and securing coverage for your clients' assets could expose you to your own set of unique risks. Lawsuits stemming from alleged errors and omissions, data breaches, property damage, and the possibility of an employee's fraudulent activity are just a few of the adverse situations that could damage your business. That's why small business insurance produced specifically for insurance companies can help. The diverse array of insurance coverage options from AmTrust can help to protect your business whenever the unexpected happens.

Although your coverage needs will depend on the size of your agency, how many employees you have, and other factors, typical coverage solutions often include protection for:

Third-Party Coverages:

• Advertising injury
• Bodily injury
• Personal injury

First-Party Coverages:

• Data breaches
• Loss of business income
• Workplace accidents and injuries
• Damage to business premises or inventory


Protecting Your Clients with General Liability Insurance


No matter how responsible you may be as an insurance agency owner, being prepared for the possibility of a lawsuit is important. A client could accuse you of failing to properly underwrite the terms of a policy and claim he or she suffered financially as a result. Even if an allegation brought against you isn't true, the costs associated with a lawsuit can be devastating for your finances and reputation. General liability insurance can help to shield you against most third-party claims.


Cyber Liability Insurance Protection for Data Breaches


Your insurance company likely collects and processes a large amount of customer data, including social security numbers, bank account information, addresses, emails, phone numbers and birth dates. Conducting business online could put you at risk of a data breach. If a client's information is stolen, you could be held liable. Cyber liability insurance can cover you against cyberattacks and data breaches. A policy could help you cover some of the costs associated with recovering from a data breach and paying for liability claims.


Protection for Your Property and Finances with a Businessowers Policy


Keeping the building that you own or lease safeguarded against the unanticipated is essential for your continued success as an insurance agency owner. Preventing disasters may not be possible, so a businessowners policy (BOP) can help you pay for necessary repairs if the unthinkable occurs. BOP coverage generally includes:

• Damage to your business premises
• Damage to your inventory such as computers, phones, fax machines and more
• Loss of income you suffer if you're forced to close your business indefinitely due to property damage, a cyberattack, or another covered event


Insurance Agency Workers Compensation Protection for Employees


If you have employees, you may be required by your state to carry workers' compensation insurance. Even if you're exempt, securing coverage may be extremely beneficial. A typical workers’ comp policy helps to cover employee-related accidents, illnesses, and injuries, often providing compensation for medical expenses, surgeries, hospitalizations and partial lost wages. In addition to covering claim-related expenses, workers' comp may also prevent an injured employee from suing your business for responsibility for a workplace injury.


How Do I Get Insurance Agency Workers’ Comp Coverage?


AmTrust Financial understands the challenges insurance agencies face on a regular basis. We’re here to help keep you and your small business protected with customizable insurance solutions. Let AmTrust Financial help you find insurance policies and coverage limits to help keep your insurance agency safeguarded. We work alongside you to find an insurance package suited to your needs. To learn more about insurance agency workers' compensation packages and other top-rated insurance products that are available through AmTrust. Contact us today for more information.
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