In a prior post (see here), we commented on the insurance agents & brokers E&O exposure arising from catastrophes (cats), called the Cat, Echo and what we might expect out of Sandy. BestWeek posted an article on this subject (subscription required, so see ProgramBusiness here). A lack of adequate flood insurance is the obvious deficiency that might drive insurance agents E&O claims, but other causes exist.
In addition, the structure of your insurance agents & brokers E&O coverage is critical in ensuring proper protection should claims arise. We have experienced an increase in inquiries from insurance agents & brokers with deficient coverage. Let us know if we can review your own insurance agents & brokers E&O coverage.