Too often, insuranceagencies tend to renew their Errors & Omissions coverage with the same limit they had during the previous policy period. If this has been the practice in your insurance agency for a number of years, there is a good chance the E&O limit is significantly outdated. While there is no magic formula for calculating the proper E&O limit, small agencies can still cause big E&O claims, so there are a few things to keep in mind.
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Auto insurance rates were on the upswing by about 9% in 2022 and they are expected to go up even in 2023. This is primarily because of the many parameters. Click on the link to know more!