Parsippany, N.J.-based Secure Settlements Inc., has announced a partnership with Itasca, Ill.-based Arthur J. Gallagher & Co., a global risk management and insurance services provider, to offer easily accessible and discounted errors and omissions (E&O) insurance opportunities to Secure Settlements member closing agents.
Under the terms of the partnership, Secure Settlements members will receive premium quotations from a wide range of carriers, which could reduce the cost of their E&O insurance. Arthur J. Gallagher & Co. offers claims-made policies with retroactive coverage for qualified applicants with multiple limit and deductible options to a broad range of professionals – including notary publics, title agents, escrow and closing agents, title abstractors, corporate document searchers and title examiners – which can be vetted through the Secure Settlements program.
‘The professional liability (E&O) insurance market for closing professionals has shrunk considerably over the past year,’ says Secure Settlements CEO Andrew Liput. ‘For the dwindling number of insurance carriers in this market, rates are rising, deductibles are increasing and limitations are tightening. Through our partnership with Arthur J. Gallagher & Co., we are aiming to reinvigorate this insurance market by offering premium opportunities to our members.’