INTERESTED IN LOWERING YOUR PREMIUM?
Learn how to save up to 20% on your agency’s E&O premiums by taking advantage of risk management premium credits.
Swiss Re Corporate Solutions has a risk management credit program that allows your agency to earn credits up to 20% on your E&O premium for two policy terms.
Credits up to 20% are available to Swiss Re policyholders, depending on your policy type.
If you have any questions about which type of policy you have, contact your state E&O program manager.
A key to the success of the Big “I” Professional Liability program has been to reward those agencies that take advantage of these resources by applying a premium discount to those who include their staff in risk management courses. Swiss Re has been able to prove that there is a direct correlation between attending a risk management course and reducing E&O claims.
Step 1: Earn your first 10%.
Take a Westport-approved three-hour risk management seminar prior to your policy anniversary (or within 30 days after your policy inception/renewal date). The number of agency staff required to attend is based on agency size below. For a listing of approved courses, please connect your E&O Program Manager. Eligible online classes may be available through the Agent and Broker Education Network (ABEN).
Step 2: Earn an additional 10%.
Do two of the three options listed below. These credits are only available in conjunction with the attendance at a risk management seminar as outlined in the previous step.
Each option is worth an additional 5% credit (max of 10% from two of these three options).
- 50% or more of staff attendance at a Westport-approved three-hour Risk Management Seminar (see step 1). Please note that the number of required attendees is rounded up. For example if you have 5 employees, a total of 3 employees must take an approved course for the additional 5% credit.
- Agency use of a Westport-approved commercial and personal lines coverage checklist. If your agency does not currently use coverage checklists, please visit the Virtual University or review E&O Guardian’s sample checklists that your agency can utilize for this requirement.
- Voluntary website review performed by an approved Westport auditor (fee applies). All recommendations must be implemented prior to the discount being applied. Please visit our list of Westport-approved auditors.
STEP 3: Have an agency workflow audit conducted by an approved auditor.
Take a Westport-approved three-hour risk management seminar prior to your policy anniversary (or within 30 days after your policy inception/renewal date). The number of agency staff required to attend is based on agency size below. For a listing of approved courses, please connect your E&O Program Manager.
Eligible online classes may be available through the Agent and Broker Education Network (ABEN).
*These are general guidelines and may vary by state. Contact your program manager to verify your state’s requirements.
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