Errors & Omissions

Get A Quote!

The LAAIA Insurance Agents Errors & Omissions program managed by Modern Insurance Consultants Inc has been specifically designed to meet our members needs.

The insurance program is underwritten through Lloyds of London (AM Best A XV) and features:

  • Limits up to $1M/$2M in-house. Higher limits may be available at Lloyds discretion.
  • Coverage for the following Professional Services: Insurance Agents, Insurance Brokers, Insurance Consultants, Insurance Instructors, Insurance Premium Financier, Insurance Risk Management Consultant, Insurance Benefits Consultant, Board Member of a non-profit insurance association
  • Automatic 30-day Extended Reporting Period (with 12 months available for 125% of the policy premium)
  • Claims handled by attorneys from Mendes & Mount, one of the nation's oldest and best E&O law firms
  • Minimum premiums start at $1,800 for $1M limit

The following three endorsements can be included at NO ADDITIONAL COST to members in good standing. That’s right FREE! This benefit is exclusive to LAAIA members and will not be available elsewhere.

  • Amended Insolvency Endorsement - Insolvency coverage extended to carriers either guaranteed by or operated by a governmental body. i.e. - all admitted carriers covered by FIGA (regardless of AM Best rating), JUA's, Citizens
  • Endorsement providing $1M Defense Cost in Outside of the Limit of Liability.
  • Endorsement extending professional services to include Tax Preparation and Bookkeeping Services performed.

Modern Insurance Consultants Inc and Pro Premium Finance have also partnered to offer premium financing with initial payments as low as 15%.

Of course, as with all insurance policies, they are subject to underwriting approval. That being said we feel that a majority of or member insurance agencies will qualify and be able to take full advantage of this great policy and benefit.

Getting a quote is easy as 1 2 3
  1. Complete the fillable PDF application here. Start Application
  2. Press the “Submit” button at the end of the application
  3. An e-mail window will open with the application attached. Please list or attach the following to this email then press send and your done!:
    • Loss runs, if any claims in the last 5 years.
    • Brief narrative for each claim (if any)
    • Schedule of licensed employees, including license numbers

It’s that simple. A errors and omissions representative will contact you shortly after the receipt of your application. If you prefer, you can contact Modern Insurance Consultants Inc at (305)248-9495 x9102 with any questions you may have.

Member Benefits

  • Member Orientation program.
  • Access to more than 200 members, representing Insurance Companies as well as insurance agents and peers.
  • Partnership Programs
  • Monthly Network Events: Including Signature Dinners as part of your annual membership fees.
  • Education: Continuing education courses approved by the Department of Insurance and given by certified instructors. Top experts at every networking event to enhance and update your knowledge on vital insurance industry related issues. Self-development workshops designed to maximize success.
  • Opportunity to gain visibility and exposure through various LAAIA committees.
  • Advocacy for legislative issues that affect you and your business. LAAIA tracks relevant legislative issues and take action for members through lobbying efforts.
  • E-blast Communication: Updating members with the latest insurance news and trends.
  • Web Forum
  • Reduced advertising costs in several industry periodicals.
  • Involvement in community projects through charitable campaigns lie the toys for children Annual Campaign, ALS Association and the Red Cross.
  • Annual Convention: Includes an array of educational programs, social events and trade fair.
  • Reduced member rates on events throughout the year.