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NAPA Direct Errors & Omissions Insurance for life & health insurance agents offers comprehensive errors and omissions coverage at truly affordable rates. Choose from three liability coverage levels and optional incidental property & casualty coverage. This Errors and Omissions program is underwritten by AM Best A+ Superior rated national carrier, Scottsdale Insurance Company. Applying online for this E&O coverage takes just minutes. Monthly payment options are also available.

NAPA Direct Errors & Omissions Insurance for Life & Health Agents

NAPA Direct Errors and Omissions Insurance protects insurance agents from claims arising from the sale and servicing of life and health insurance products. Like malpractice insurance for doctors or lawyers, NAPA Direct E&O Insurance can help protect your assets and current & future earnings and also provide expert legal representation in the event a covered claim is filed.

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NEW!
NEW!
NAPA Direct Rates

Add Incidental P&C coverage to any option for additional premium.

NEW!**To be eligible for new agent pricing, you must apply within two years of receiving your original issued state life & health agent license and have commission income of less than $100,000 for the 12 months prior to enrolling.

 

Pricing shown is for experienced agents earning less than $250,000 and new agents earning less than $100,000 in gross annual commissions with a coverage limit of $1,000,000 per wrongful act/$1,000,000 annual aggregate.

The NAPA Direct E&O Program offers all Life and Health Insurance Agents outstanding coverage and affordable rates. The plan is an annual-renewable claims-made policy. Claims-made financial services professional liability coverage limited to services provided as a life/health insurance agent and Series 6 Registered Representative. Pricing shown is for experienced agents earning less than $250,000 and new agents earning less than $100,000 in gross annual commissions. Higher revenue tier pricing is available.

 

Option A

Life, Accident, Health, Disability, LTC, including Medicare Advantage and Medicare Supplements

  Coverage Limits Single Payment* Down Payment** Monthly Payment
New Agent $1M / $1M $375.00 $112.37 $29.33
Experienced
Agent
$1M / $1M $475.00 $129.87 $36.83
$1M / $3M $540.00 $139.87 $41.83
$2M / $2M $860.00 $192.17 $66.17

Option B

Life, Accident, Health, Disability, LTC, including Medicare Advantage and Medicare Supplements, PLUS Fixed Annuities (including indexed annuities)

  Coverage Limits Single Payment* Down Payment** Monthly Payment
New Agent $1M / $1M $465.00 $127.17 $36.17
Experienced
Agent
$1M / $1M $565.00 $144.67 $43.67
$1M / $3M $675.00 $163.92 $51.92
$2M / $2M $995.00 $214.42 $76.42

Option C

Life, Accident, Health, Disability, LTC, including Medicare Advantage and Medicare Supplements, PLUS Fixed Annuities (including indexed annuities), Mutual Funds & Variable Products

  Coverage Limits Single Payment* Down Payment** Monthly Payment
New Agent $1M / $1M $625.00 $148.75 $48.75
Experienced
Agent
$1M / $1M $697.00 $163.92 $53.92
$1M / $3M $860.00 $190.37 $66.33
$2M / $2M $1,235.00 $250.92 $94.92


* Pricing shown is for experienced agents earning less than $250,000 and new agents earning less than $100,000 in gross annual commissions. Prices include $36.00 NAPA membership dues and applicable fees, taxes and doc stamps. **Down payment refers to monthly payment option. Your down payment includes one month's premium, NAPA dues, administrative fees and a $5.00 monthly processing fee. Down payments will be processed immediately; monthly deductions as shown above will begin the first of the month after enrollment effective date.

Disappearing Deductible/Retention

  • First two years in the program: $1,000 deductible/retention for claims arising from fixed life, health, accident and disability insurance and annuities
  • After two years of continuous coverage in the program: deductible/retention decreases to $500.00
  • After five years of continuous coverage in the program: deductible/retention decreases to $0.00

  • $5,000 for all other claims (e.g. variable products and mutual funds)

 

Incidental Property & Casualty Coverage for Personal Lines*

  • New Agents add $345.00
  • <250k revenue tier add $370.00
  • 250K -499k revenue tier add $750.00
  • 500k-999k revenue tier add $1,600.00

Covers ONLY the following products placed with admitted Property & Casualty carriers with an AM Best Ratings no lower than B+ .

  • Homeowners
  • Auto (including personal watercraft, RV and motorcycle)
  • Personal Umbrellas
  • Flood
  • Renters

Excluded products include, but are not limited to:

  • Professional Liability
  • Medical Malpractice
  • Directors & Officers
  • Commercial General Liability
  • Commercial Property
  • Products Liability
  • Workers Compensation

Coverage Sub Limits

  • $1M per wrongful act / $1M aggregate

Deductible/Retention

  • $5,000 per covered claim

Option A

Life, Accident, Health, Disability, LTC, including Medicare Advantage and Medicare Supplements PLUS Incidental P&C

  Coverage Limits Single Payment* Down Payment** Monthly Payment
New Agent $1M / $1M $720.00 $182.37 $54.33
Experienced Agent $1M / $1M $845.00 $224.87 $61.83
$1M / $3M $910.00 $234.87 $66.83
$2M / $2M $1,230.00 $287.17 $91.17

Option B

Life, Accident, Health, Disability, LTC, including Medicare Advantage and Medicare Supplements, PLUS Fixed Annuities (including indexed annuities), PLUS Incidental P&C

  Coverage Limits Single Payment* Down Payment** Monthly Payment
New Agent $1M / $1M $810.00 $197.17 $61.17
Experienced Agent $1M / $1M $935.00 $239.67 $68.67
$1M / $3M $1,045.00 $258.92 $76.92
$2M / $2M $1,365.00 $309.42 $101.42

Option C

Life, Accident, Health, Disability, LTC, including Medicare Advantage and Medicare Supplements, PLUS Fixed Annuities (including indexed annuities), Mutual Funds & Variable Products, PLUS Incidental P&C

  Coverage Limits Single Payment* Down Payment** Monthly Payment
New Agent $1M / $1M $970.00 $218.75 $73.75
Experienced Agent $1M / $1M $1,067.00 $258.92 $78.92
$1M / $3M $1,230.00 $285.37 $91.33
$2M / $2M $1,605.00 $345.92 $119.92

 

P&C sub-limit is $1M per wrongful act / $1M aggregate. The P&C coverage included in this plan is designed to be incidental to the agents overall book of Life & Health business. Life & Health agents who also have a P&C license are eligible for this coverage ONLY if their total P&C revenues do not exceed 25% of their gross annual commission & fees.

*Prices include $36.00 NAPA membership dues and applicable fees, taxes and doc stamps. **Down payment refers to monthly payment option. Your down payment includes one month's premium, NAPA dues, administrative fees and a $5.00 monthly processing fee. Down payments will be processed immediately; monthly deductions as shown above will begin the first of the month after enrollment effective date.

 

Liability Coverage Limit Options

  • $1,000,000 per wrongful act / $1,000,000 annual aggregate
  • $1,000,000 per wrongful act / $3,000,000 annual aggregate (experienced agents only)
  • $2,000,000 per wrongful act / $2,000,000 annual aggregate (experienced agents only)

Plan Underwriter

NAPA has made sure that your E&O Insurance is secured by an outstanding insurance company. 
Scottsdale Insurance Company is rated A+ Superior by AM Best.

 

Payment Options

  • Pay in full or choose monthly payments via credit card or electronic funds transfer (EFT)

Apply for E&O Now!
Apply online in less than 10 minutes for NAPA Direct E&O Insurance.

Upon successful completion of this application, a certificate of insurance will be available for immediate download for eligible agents.


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