BCS Select E&O Insurance Programs for Newly Licensed Agents And Experienced Agents

Welcome to the BCS Select E&O Insurance Program.

Program Eligibility

  • Coverage under the BCS Select Policy is currently NOT AVAILABLE in NY. Please call 866-389-0022 for additional options that may be available.
  • To be eligible for new agent pricing, you must apply within two years of receiving your first original issued state life & health agent license and have commission income of $100,000 or less for the 12 months prior to enrolling
  • You must have an active life and/or health insurance license to be eligible for coverage.

About This Coverage

  • This E&O Insurance, also known as Errors and Omissions insurance, is a type of professional liability insurance designed specifically for insurance agents that provides broad liability coverage options to help protect agents against the high costs associated with a covered E&O claim. Apply for the BCS Select Errors & Omissions Program online in minutes and receive instant proof of insurance.

Pricing Information

New Agent - 1M/2M Limits

Option A

Life, accident, health, LTC, disability, including Medicare Advantage & Medicare Supplements, employee benefit administration.

Pay Monthly

Down payment of $59.17 with 11 monthly installments of $34.17.

Pay in Full

One payment of $375

Option B

Life, accident, health, LTC, disability, including Medicare Advantage and Medicare Supplements, employee benefit administration.

  • Fixed & Indexed Annuities

Pay Monthly

Down payment of $67.00 with 11 monthly installments of $42.00.

Pay in Full

One payment of $469

Option C

Life, accident, health, LTC, disability, including Medicare Advantage and Medicare Supplements, employee benefit administration.

  • Fixed & Indexed Annuities
  • Mutual Funds & Variable Products

Pay Monthly

Down payment of $76.75 with 11 monthly installments of $51.75.

Pay in Full

One payment of $586

Pricing shown is for agents earning less than $100,000 in net annual commissions with a coverage limit of $1,000,000 per "claim"/$2,000,000 annual aggregate - must apply within 2 years of your original insurance license date.

  • This is an annual policy which renews 12 months from your selected effective date. Down payment includes one month's premium, $25 admin fees and a $5.00 monthly processing fee and will begin the third day of the month after the enrollment effective date.
  • At the time of enrollment, each agent will be required to make a non-refundable payment in the amount of the first month’s premium (minimum earned premium). Administrative fees and minimum earned premium are non-refundable.
  • Pricing shown above is for a newly licensed life and/or health agent that has received their state license within two years of enrollment. ($1M/$2M limit option only).

Program Features

  • Coverage includes sale or servicing of Fixed Life, Accident and Health, LTC, Medicare Advantage and Medicare Supplemental products, Disability, and Managed Care Organization contracts (provided that such contracts do not require a securities license). Additional coverage options available for Fixed and Indexed Annuities, Mutual Funds and Variable Products.
  • Defense costs reduce the limit of liability and are subject to the deductible. Punitive damages are not covered by the policy. Refer to the policy form for the definition of defense costs and punitive damages.
  • Provides coverage for your administrative, clerical and support personnel while they are acting on your behalf.
  • Provides coverage for any corporation, partnership or other business entity that is owned or controlled by an Agent, General Agent or Registered Representative but only for the covered acts of the individual Agent, General Agent or Registered Representative. This is individual E&O insurance.
  • This policy applies to any act, error or omission which takes place anywhere in the world, provided that the claim is made and suit is brought against the Insured in the United States of America
  • Instant proof of insurance upon approval
  • This is a claims made and reported policy. Claims must be submitted as soon as practicable in writing to the insurer. Coverage only applies to claims first made during the policy period. Claims must be reported during the policy period; or, during an extended reporting period (ERP). Prior acts are covered back to the first day of continuous E&O coverage. Please refer to the policy form for claim reporting provisions and definition of a claim, prior acts definition, and ERP details.

Coverage Limits

  • $1 Million per claim / $2 Million annual aggregate

Deductibles and Retentions

  • $0 Deductible for Life, Accident, Health, and Disability Insurance Products
  • $5,000 Deductible for Annuities, Variable Products and Mutual Funds

Payment Options

  • Pay in full or choose monthly payments via credit card or electronic funds transfer (EFT). For those customers that select the monthly payment option, your credit card or EFT will be processed on the third of each month.

Underwriter

  • This errors and omissions coverage is placed with an admitted carrier. Please reference the A.M. Best rating and disclosures link below for an explanation of admitted and non-admitted carriers.
  • Your coverage is secured by BCS Insurance Company.
    www.bcsins.com
    BCS Insurance Company is A.M. Best "A-" (Excellent) VIII rated carrier.

Disclosures

  • A.M. Best rating and other disclosures.
  • All policy documents are delivered in electronic format by default. You can manage your renewal notice delivery options by visiting "Current Policyholders" menu option at the top of the page.
  • For complete details on covered professional services and exclusions, please refer to the policy form.

Program Administrator

  • Gallagher Affinity
  • Refer to the policy form for additional definitions, terms, and conditions. Please contact us with any questions or concerns; you can also visit our Frequently Asked Questions for more information.
  • Program administrative services include policy review and issuance, premium billing and invoicing, mid-term policy changes, coordination and issuance of certificates of insurance, online enrollment and account management and a dedicated customer support team with phone, chat and online contact features.

Program Eligibility

  • Coverage under the BCS Select Policy is currently NOT AVAILABLE in NY. Please call 866-389-0022 for additional options that may be available.
  • You must have an active life and/or health insurance license to be eligible for coverage.

About This Coverage

  • This E&O Insurance, also known as Errors and Omissions insurance, is a type of professional liability insurance designed specifically for insurance agents that provides broad liability coverage options to help protect agents against the high costs associated with a covered E&O claim. Apply for the BCS Select Errors & Omissions Program online in minutes and receive instant proof of insurance.

Pricing Information

Experienced Agent - 1M/2M Limits

Option A

Life, accident, health, LTC, disability, including Medicare Advantage & Medicare Supplements, employee benefit administration.

Pay Monthly

Down payment of $64.62 with 11 monthly installments of $39.58.

Pay in Full

One payment of $440

Option B

Life, accident, health, LTC, disability, including Medicare Advantage and Medicare Supplements, employee benefit administration.

  • Fixed & Indexed Annuities

Pay Monthly

Down payment of $73.75 with 11 monthly installments of $48.75.

Pay in Full

One payment of $550

Option C

Life, accident, health, LTC, disability, including Medicare Advantage and Medicare Supplements, employee benefit administration.

  • Fixed & Indexed Annuities
  • Mutual Funds & Variable Products.

Pay Monthly

Down payment of $85.00 with 11 monthly installments of $60.00.

Pay in Full

One payment of $685

Pricing shown is for agents earning less than $250,000 in net annual commissions with a coverage limit of $1,000,000 per "claim"/$2,000,000 annual aggregate.

  • This is an annual policy which renews 12 months from your selected effective date. Down payment includes one month's premium, $25 admin fees and a $5.00 monthly processing fee and will begin the third day of the month after the enrollment effective date.
  • At the time of enrollment, each agent will be required to make a non-refundable payment in the amount of the first month’s premium (minimum earned premium). Administrative fees and minimum earned premium are non-refundable.

Program Features

  • Coverage includes sale or servicing of Fixed Life, Accident and Health, LTC, Medicare Advantage and Medicare Supplemental products, Disability, and Managed Care Organization contracts (provided that such contracts do not require a securities license). Additional coverage options available for Fixed and Indexed Annuities, Mutual Funds and Variable Products.
  • Defense costs reduce the limit of liability and are subject to the deductible. Punitive damages are not covered by the policy. Refer to the policy form for the definition of defense costs and punitive damages.
  • Provides coverage for your administrative, clerical and support personnel while they are acting on your behalf.
  • Provides coverage for any corporation, partnership or other business entity that is owned or controlled by an Agent, General Agent or Registered Representative but only for the covered acts of the individual Agent, General Agent or Registered Representative. This is individual E&O insurance.
  • This policy applies to any act, error or omission which takes place anywhere in the world, provided that the claim is made and suit is brought against the Insured in the United States of America
  • Instant proof of insurance upon approval
  • This is a claims made and reported policy. Claims must be submitted as soon as practicable in writing to the insurer. Coverage only applies to claims first made during the policy period. Claims must be reported during the policy period; or, during an extended reporting period (ERP). Prior acts are covered back to the first day of continuous E&O coverage. Please refer to the policy form for claim reporting provisions and definition of a claim, prior acts definition, and ERP details.

Coverage Limits

  • $1 Million per claim / $2 Million annual aggregate

Deductibles and Retentions

  • $0 Deductible for Life, Accident, Health, and Disability Insurance Products
  • $5,000 Deductible for Annuities, Variable Products and Mutual Funds

Payment Options

  • Pay in full or choose monthly payments via credit card or electronic funds transfer (EFT). For those customers that select the monthly payment option, your credit card or EFT will be processed on the third of each month.

Underwriter

  • This errors and omissions coverage is placed with an admitted carrier. Please reference the A.M. Best rating and disclosures link below for an explanation of admitted and non-admitted carriers.
  • Your coverage is secured by BCS Insurance Company.
    www.bcsins.com
    BCS Insurance Company is A.M. Best "A-" (Excellent) VIII rated carrier.

Disclosures

  • A.M. Best rating and other disclosures.
  • All policy documents are delivered in electronic format by default. You can manage your renewal notice delivery options by visiting "Current Policyholders" menu option at the top of the page.
  • For complete details on covered professional services and exclusions, please refer to the policy form.

Program Administrator

  • Gallagher Affinity
  • Refer to the policy form for additional definitions, terms, and conditions. Please contact us with any questions or concerns; you can also visit our Frequently Asked Questions for more information.
  • Program administrative services include policy review and issuance, premium billing and invoicing, mid-term policy changes, coordination and issuance of certificates of insurance, online enrollment and account management and a dedicated customer support team with phone, chat and online contact features.