Focal point of the course: the agent who fully understands and skillfully customizes coverage not only demonstrates his or her value to clients but also avoids errors and omissions (E&O) charges that can result from a failure to meet clients’ needs
IMPORTANT CHANGES Effective 1/1/2020, new risk management (formerly loss control) credit compliance and credit options will be available to Westport clients.
1. The credit will remain on your account for 2 years instead of 3.
2. Credit will no longer be lost because of claim activity.
3. E&O seminar attendance requirements will be 3 hours instead of 6. October 2019 E&O seminars will qualify for both the three-year and two-year credits.
4. Required number of staff for the base 10% credit per listed below:*
•1-4 staff = 1 attendee
•5-11 staff = 3 attendees
•12+ staff = 25% of staff with a maximum of 15 attendees. At least one attendee must be an *active agency principal, owner or officer is required for all three levels.
5. If you qualify for the 10% risk management credit, you can also earn up to an additional 10% credit with the options below:
> 50% or more of staff attendance at an E&O seminar or webinar = 5% credit. If you have an odd number of employees, round up for the proper number of attendees.
> Agency use of a coverage checklist = 5% credit. Checklist must be submitted for underwriter review and approval prior to the renewal for credit to apply.
> Voluntary website review = 5% credit. Website review must be done by a Westport approved auditor, and findings must be implemented before credit will apply.
Please contact the Big I NJ at 609-587-4333 for more details or questions.
Approved for 3 NJ CE Credits
Members: $75.00 Non-Members: $150.00