EmergIn Risk announces enhancements to insurance agents and brokers E&O program

EmergIn Risk announces enhancements to insurance agents and brokers E&O program | Insurance Business

EmergIn Risk announces enhancements to insurance agents and brokers E&O program

EmergIn Risk, part of the Ryan Specialty Group and a division of RSG Underwriting Managers, has announced an expansion of its professional liability program for insurance agents and brokers, [In]fuse.

EmergIn Risk (formerly ThinkRisk) launched [In]fuse seven years ago to provide protection against the professional liability exposures faced by mid-sized and large US insurance agents and brokers. The enhanced product, [In]fuse 2.0, includes increased sub-limits for coverages including governmental and disciplinary proceedings, subpoena expenses, and time-off-work expenses for policyholders and their employees. Several exclusions have also been removed, including bad faith and the “insured v. insured” exclusion. The new policy form also offers a 70/30 consent to settle “hammer” and expands the definition of an insured, EmergIn Risk said.

“We were way ahead of the market when we originally launched this program several years ago,” said Reza Khan, CEO of EmergIn Risk. “Very few E&O markets at the time were seriously addressing emerging exposures such as data compromise expense in their core policy forms – exposures that existed but were not fully understood or appreciated by many professional services firms, including insurance agents and brokers. [In]fuse 2.0 is the next generation of that coverage, and incorporates changes that in the past would ordinarily require policy manuscripting. With our updated form, our policyholders will no longer need to negotiate to expand coverage on an a la carte basis.”

Sedgwick will continue to handle claims for [In]fuse 2.0, while EmergIn will underwrite the program on behalf of a panel of three Lloyd’s of London syndicates.

“This new panel commitment will give us much greater scope to continue to expand our market-leading US agents and brokers E&O portfolio while better serving our clients,” said David Overton, EmergIn director of sales.