Swiss Re offers brokers E&O deductible reduction policy enhancement

Swiss Re has launched a new deductible reduction policy enhancement for its broker association errors and omissions (E&O) policyholders. Through the enhancement, Swiss Re will reduce the E&O policy deductible by 50% – up to a maximum of $12,500 per claim – in the event a new claim is brought alleging the broker’s failure to procure a coverage or limit recommendation.The new enhancement is designed to reduce total out-of-pocket claims costs for Swiss Re’s policyholders, promote complete and thorough file documentation and facilitate early resolution of claims, a Swiss Re release says.It was developed in collaboration with the Canadian Provincial Insurance Associations, and coverage is available to provincial association members who are also Swiss Re policyholders.