SILAC Insurance Company Errors & Omissions Insurance Program

E&O Insurance for SILAC Insurance Company agents

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  • About This Coverage
  • Program Eligibility
  • Pricing Information
  • Program Features
  • Payment Options
  • Underwriter
  • Disclosures
  • Program Administrator
  • This Errors and Omissions insurance program is designed exclusively for SILAC Insurance Company Agents and covers the sale and servicing of life & health products.
  • Coverage for the sale and servicing of products rated “B” or better, no insolvency exclusions apply
  • This E&O Policy renews on October 1st. All certificates of insurance issued under this policy will renew October 1st. Premiums are prorated based on chosen effective date of coverage.
  • You must be actively affiliated with SILAC Insurance Company at the time of enrollment
  • If you are no longer affiliated with SILAC Insurance Company during the policy period, coverage for any new business activities ceases immediately as of your termination date. You will be covered under an Extended Reporting Period beginning on the date of termination. Please see the policy for further details.
Coverage Limits
  • $1 Million per claim / $1 Million annual aggregate
  • $2 Million per claim / $2 Million annual aggregate

Life, accident and health, disability income activities, universal life, fixed & indexed annuities and section 125, employee benefit plans, managed health care organizations.

Effective Date Pay In Full or Down Payment w/Monthly Payment
10/01/25
$
456.00
$
76.00
$
40.00
11/01/25
$
418.00
$
73.00
$
40.00
12/01/25
$
380.00
$
70.00
$
40.00
01/01/26
$
342.00
$
67.00
$
40.00
02/01/26
Apply today for
$
304.00
$
64.00
$
40.00
03/01/26
$
266.00
$
61.00
$
40.00
04/01/26
$
228.00
$
58.00
$
40.00
05/01/26
$
190.00
$
55.00
$
40.00
06/01/26
$
152.00
$
52.00
$
40.00
07/01/26
$
114.00
$
49.00
$
40.00
08/01/26
$
76.00
$
46.00
$
40.00
09/01/26
$
38.00
$
38.00
$
0.00
   View more limit, coverage and pricing options Premiums are prorated to allow for mid-policy enrollment.

Pay in full or choose monthly payments via credit card or electronic funds transfer (EFT). For those customers that select the monthly payment option, your credit card or EFT will be processed on the first of each month.

  • This policy renews on October 1st of each year.
  • Pricing includes $36.00 prorated NAPA dues. Down payments are processed immediately and include one month's premium, NAPA dues, and a $5.00 monthly processing fee. Monthly payments include a $5.00 processing fee and will begin the first of the month after the enrollment effective date.
  • At the time of enrollment, each agent will be required to make a non-refundable payment in the amount of the first month’s premium (minimum earned premium). Administrative fees, NAPA dues, and minimum earned premium are non-refundable.
  • Guarantee Issue – Group preferred rates
  • Coverage includes life, accident and health, disability income activities, universal life, annuities and section 125, employee benefit plans, managed health care organizations
  • Additional coverage available for mutual funds and variable products
  • Prior acts coverage back to first date of continuous E&O coverage
  • First dollar defense costs are provided and are within the limits of liability. Punitive damages are not covered by the policy.
  • Provides coverage for any affiliated corporation, partnership or agency for their liability arising out of the individual insured's professional services
  • Coverage under this program is offered on a claims made basis. The policy will only cover claims first made against the Insured and reported to the Insurer during the certificate period. The agent must not have had knowledge of the claim or circumstances likely to result in a claim at the effective date of coverage.
  • This policy applies to any act, error or omission which takes place anywhere in the world, provided that the claim is made and suit is brought against the Insured in the United States of America
  • Instant proof of insurance upon approval.
  • This is a claims made and reported policy. Claims must be submitted as soon as practicable in writing to the insurer. Coverage only applies to claims first made during the policy period and claims must be reported during the policy period or during an extended reporting period (ERP). Prior acts are covered back to the first day of continuous E&O coverage. Please refer to the policy form for claim reporting provisions and definition of a claim, prior acts definition, and ERP details.
Deductibles and Retentions
  • $1,000 deductible for SILAC Insurance Company product-related claims
  • $2,500 deductible for Non SILAC Insurance Company product-related claims
  • Pay in full or choose monthly payments via credit card or electronic funds transfer (EFT). For those customers that select the monthly payment option, your credit card or EFT will be processed on the first of each month.
  • This errors and omissions coverage is placed with an admitted carrier. Please reference the A.M. Best rating and disclosures link below for an explanation of admitted and non-admitted carriers.
  • Your coverage is underwritten by BCS Insurance Company.
    bcsins.com
    BCS Insurance Company is A.M. Best "A" (Excellent) rated carrier.

All policy documents are delivered in electronic format by default.

You can manage your renewal notice delivery options by visiting "My Account" menu option at the top of the page. Refer to the policy form by clicking on the Policy button at the top of the page for more details on covered professional services and exclusions. A.M. Best rating and other disclosures.

  • All policy related documents and communications are delivered in electronic format where allowable by law.
  • For complete details on covered professional services and exclusions, please refer to the policy form.

This E&O Insurance program is administered by NAPA. Program administrative services include policy review and issuance, premium billing and invoicing, mid-term policy changes, coordination and issuance of certificates of insurance, online enrollment and account management and a dedicated customer support team with phone, chat and online contact features.

Refer to the policy form for additional definitions, terms, and conditions. Please contact us with any questions or concerns; you can also visit our Frequently Asked Questions for additional information.

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Frequently Asked Questions
Frequently Asked Questions