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Rockwood Provides Installment Option For E&O

Insurance Agents E&O programs provide professional liability coverage, for both life/accident and health and property and casualty agents

Rockwood Programs (Rockwood) has declared to offer a quarterly installment option on its Life Agents Errors & Omissions (E&O) product. Once established, premium payments would be automatically charged to the policyholder’s credit card. The installment option will be available on all new business and renewal accounts written after July 6, 2009, said the company.

According to Rockwood, its Insurance Agents E&O programs provide professional liability coverage for both life/accident and health and property and casualty agents. Both the programs are placed through certain underwriters at Lloyds.

Glenn Clark, President of Rockwood Programs, said: “By offering an installment payment option, we are giving our insureds the flexibility to spread their premium remittances over the year. Since these installments are deducted automatically, our policyholders do not have to worry about receiving and paying multiple invoices. You could say we offer peace of mind as well.”