Ryan Expands E Program for Small, Medium Insurance Agents Nationwide

What's Happening?

Ryan Financial Lines has announced the expansion of its Errors & Omissions (E&O) insurance program tailored for small and medium-sized insurance agents and brokers. The program now offers an admitted product available to retail agents in most states, excluding Connecticut, New York, Alaska, and Hawaii. Coverage includes defense outside the limits, first dollar defense, and a cyber sub-limit, with privacy and security liability sub-limits available to select insureds. The expansion aims to address the evolving needs of insurance agencies with annual revenues under $10 million.

Why It's Important?

This expansion is significant for small and medium insurance agencies as it provides enhanced protection and risk management tools. By offering comprehensive coverage options, Ryan Financial Lines is addressing the growing complexity and risks faced by insurance agents in today's market. The inclusion of cyber liability coverage is particularly relevant given the increasing threats of data breaches and cyber attacks. This move could strengthen the competitive position of smaller agencies, enabling them to better serve their clients and manage potential liabilities.