New Errors & Omissions Program for Property Managers
QBE North America has teamed up with Stateside Underwriting Agency to introduce an innovative Errors & Omissions (E&O) program aimed specifically at property managers. This strategic partnership reflects QBE's commitment to offering comprehensive solutions tailored to meet the unique challenges faced by property management professionals, including those involved in construction and property development.
Addressing the Needs of Property Management
"We are excited to roll out this focused E&O program that responds to the evolving needs of property managers," stated Danielle Librizzi, the head of professional liability at QBE North America. The program is designed to equip property managers with enhanced tools for risk mitigation, empowering them to handle their responsibilities with greater confidence. The collaboration with Stateside Underwriting Agency signifies a merge of expertise, aimed at delivering unparalleled value to clients.
Coverage Highlights
The newly launched E&O program offers primary policy limits of $5 million per claim, with an aggregate limit of $5 million. It primarily targets property management professionals and those providing related services, including Residential Real Estate Agents, Property Development Managers, and Construction Managers. This tailored insurance plan is geared towards addressing the common risks that property managers encounter in their profession.
Understanding the Complexities of Property Management
Chad Gaizutis, vice president of Stateside Underwriting Agency, remarked, "Managing residential and commercial properties presents numerous challenges, and there is no one-size-fits-all solution for navigating these responsibilities. Our partnership with QBE combines our depth of experience with a focus on niche products to develop this specialized insurance coverage." This collaboration ensures that property managers have access to the necessary support as they tackle the complexities of property management and the associated risks.
About Stateside Underwriting Agency
Stateside Underwriting Agency (SUA), which operates under Johnson & Johnson, Inc., has been a leading managing general agent for nearly three decades. It has a well-established reputation for curating professional liability insurance solutions tailored to various niche markets. This extensive experience makes SUA a trusted partner in the insurance industry.
About QBE North America
QBE North America is recognized as a global leader in insurance, providing innovative risk solutions that allow clients to focus on their future goals. As a part of QBE Insurance Group Limited, QBE North America reported gross written premiums of $7.3 billion recently. With their headquarters based in Sydney, Australia, QBE operates in 26 countries, maintaining a strong presence across all key insurance markets. In North America, the division offers comprehensive insurance products through its subsidiary companies, ensuring clients receive the highest level of service and support.
Frequently Asked Questions
What is the purpose of the new E&O program?
The new E&O program is designed to provide property managers with tailored coverage that helps them effectively mitigate risks associated with their responsibilities.
Who are the primary beneficiaries of this program?
The program targets property management professionals and related service providers like real estate agents and construction managers.
What are the coverage limits offered?
The program offers primary policy limits of $5 million per claim, with a total aggregate limit of $5 million.
How does this partnership benefit property managers?
This partnership combines the expertise of QBE and Stateside Underwriting Agency, ensuring property managers have specialized support and tailored solutions for their unique risks.
What is the history of Stateside Underwriting Agency?
Stateside Underwriting Agency has operated as a managing general agent for nearly 30 years, specializing in professional liability coverage for niche markets.
