What are the E&O requirements?
This is What You Need to Work with Firefly:
- An E&O policy with a minimum occurrence limit of $1 million and a minimum aggregate limit of $2 million.
- Firefly Agency LLC must be added as an Additional Insured on the policy and be notified in 30 days if the policy is cancelled.
We will require updated copies of your policy every renewal showing that your policy meets the minimum requirements and has the appropriate language.
Firefly has a great relationship with Utica National. Agents who work with us are eligible to get a discounted rate on their E&O insurance from Utica. You are not required to buy a policy from them, but most agents find their value too good to pass up.
Normally, scratch agencies would not qualify for the Utica National policy, but you will qualify if they are you are contracted with Firefly so long as you don’t focus on non-admitted commercial business, or trucking.
E&O isn’t an exciting topic, but an important one. Let us know if you have any questions.
Learn more about what you get with Firefly by downloading our ebook here.
Modern Agent Resources
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Learning Center Articles
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- Firefly’s Unique Money-back Guarantee
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- How to Get Appointed with Insurance Companies: You Need 3Things
- How to Know if Firefly is a Good Fit for You
- What Makes me a Good fit for Firefly?
- What if Agents had to go Back to What They Were Doing Before Firefly?
- To fee, or not to fee? That is an Easy Question!
- Carrier Infusion Beats Carrier Appointment Confusion
- Working Without Firefly is Like Eating Soup With a Knife or Fork
- Agency Autonomy: Work with Firefly While Keeping Your Own Appointments
- What are Your “What ifs?”