According to RMS, the new insurance plan will offer two coverage limits which include: $500,000 each claim/ $500,000 in the aggregate and $1,000,000 each claim/ $1,000,000 in the aggregate. A $2,500 deductible will be applied to both options and the total master policy aggregate will be $5,000,000.
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The newly established online facility will re-dedicate the agency’s focus on start-up life and health insurance agents with under $100,000 in annual revenues.
Commenting on the launch, RMS production manager, Joanne LaMaestra, said: "With all of the distractions inherent in starting any new career, it is not surprising that many overlook a key element in any business strategy, acquiring adequate levels of Errors & Omissions (E&O) insurance. Worse still, those who seek the coverage are often surprised at the premiums new agents must pay.
"We offer a group plan tailored to the needs of agents with less than five years of experience. Our simplified, on-line application process allows individuals to secure a quote and bind coverage in minutes. All policy outputs are delivered electronically as well.
"As our insureds flourish and grow in the industry, their E&O requirements become more complex. RMS will address this need by securing tailored, individual coverage for them," LaMaestra added.
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