Insurance Agents

What Does GL Code 45334 Cover?

ISO GL class code 45334 covers insurance agents, brokers, and agencies primarily engaged in selling, soliciting, or negotiating insurance policies on behalf of carriers or clients. This class encompasses the administrative and sales operations of insurance businesses, excluding direct underwriting or claims adjustment. It classifies the general liability exposures associated with their office premises and client interactions.

Who Uses This Class Code?

Independent insurance agencies, captive insurance agents, insurance brokers, and managing general agents (MGAs) fall under this code. This includes businesses selling life, health, property, casualty, and other lines of insurance.

Common GL Claims for This Class

Common GL claims for insurance agents include slip-and-fall incidents by clients or visitors on agency premises, property damage to a client's belongings during an office visit, or personal injury claims such as libel or slander arising from advertising or client communications.

Coverage Tips for Code 45334

• Ensure your General Liability policy includes Personal and Advertising Injury coverage to protect against claims like libel or slander arising from marketing activities.
• Review your lease agreement carefully; many require specific GL limits and naming the landlord as an additional insured.
• Consider a Business Owner's Policy (BOP) which combines GL with property insurance, often at a more favorable rate for small agencies.
• Professional Liability (Errors & Omissions) is critical for insurance agents and is separate from GL; ensure adequate limits to cover advice-related claims.