Big “I” Markets, an online market access program developed by the Independent Insurance Agents & Brokers of America (the Big “I”), announced an expansion of its partnership with Fireman’s Fund Insurance Company that will empower member agents and brokers to expand coverage offerings through this carrier.
Fireman’s Fund, currently a provider of high-value homeowner coverages through Big “I” Markets, is offering two non-profit director and officer (D&O) liability products to Big “I” members in states where the online market access program is available.
“This significant expansion of product availability marks the ongoing growth of Big ‘I’ Markets, as well as the power of our partnership with Fireman’s Fund,” said Paul Buse, president of IIABA’s Big “I” Advantage products and services team.
The two products, DefenseFirst and DefensePlus, protect board members, executive directors, managers, supervisors, employees and volunteers of non-profit organizations from claims of mismanagement, including alleged employee discrimination.
DefenseFirst was created for smaller non-profits with annual revenues of less than $200,000. When faced with litigation, Fireman’s Fund selects the defense attorney and pays claim expenses incurred in excess of the insured’s retention. Legal expenses are included in the limit of insurance.
DefensePlus is targeted to organizations with annual revenues exceeding $200,000. The coverage pays for legal expenses outside the limit of insurance. Fireman’s Fund selects the defense attorney and pays claim expenses incurred in the organization’s defense. The insured’s retention applies only toward settlement of the claim.
“Our products are tailored for the non-profit niche market. One of the key attributes we bring to the market is our ability to partner with our agents and customers to reduce risk through expertise and innovation,” added Karen Callanan, Fireman’s Fund professional liability underwriting executive.
Fireman’s Fund, a member of Allianz, A.G., is “A” rated by A.M. Best. Allianz operates through 200 subsidiary companies with more than 175,000 employees, resulting in global collaboration based on financial strength and a philosophy that honors loyalty and service.
Agents seeking access to DefenseFirst and DefensePlus must be Big “I” members. To review underwriting criteria, download sales tools and policy specimens, and submit an online quote request for these products, member agents and brokers must login to the proprietary online system at www.bigimarkets.com.
Agents and brokers who are not Big “I” members must join their state independent insurance agent associations and then submit Big “I” Markets Registration Kits, which can be downloaded at www.independentagent.com/bigimarkets. Once the kits have been processed, the agent or broker will receive a user ID and password, giving him or her access to begin quoting business.
Was this article valuable?
Here are more articles you may enjoy.