E/O Coverage----suspended?

Discussion in 'E&O - Errors and Omissions for Insurance Agents' started by Gulfman, Jun 14, 2017.

  1. Gulfman
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    Gulfman Well-Known Member

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    I'M scratching my head on this one :err:

    I was talking to a friend of mine who mentioned a case where an agent was being sued and his EO company was IN FACT defending him. (story was he sold a malpractice policy to some doctor who got sued for 5 million---someone died). ANYWAY, the agent had e/o coverage for 2 million (not sure what he did wrong---if anything). AND the attorney's are suing everyone (figures).

    HOWEVER, i was told that he couldn't get E/O from any other carrier while the case is pending???

    Is this BS or what? (i've never been sued but wat da hell?)
     
  2. FEX Quotes
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    FEX Quotes Well-Known Member

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    Not BS, but why would you be upset?
     
  3. Gulfman
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    Gulfman Well-Known Member

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    That's an interesting question. You mean you're not? So, another industry practitioner is DRAGGED through the mud over a lawsuit where he didn't have enough coverage---but that doesn't bother you??

    Interesting...

    NOT ME. If it happened to him, it could happen to anyone (including me). I do my best to stay outta trouble (do everything on the level, dot my i's cross my t's)), but agents make mistakes (that's why they get EO).

    TRUTHFULLY, i don't believe the agent did anything wrong...its just some lawyers going after anyone and everyone to "shake them down"---that's the nature of the "lawsuit industry."

    WHY DOES THAT MAKE YOU INDIFFERENT?


    ???
     
  4. VolAgent
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    VolAgent Well-Known Member

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    Will his current carrier renew his policy? If not, then yes I would be upset. As long as they will renew, I can't say I am surprised. In general, companies avoid insured's who have an open claim.

    He probably could go to the E&S market, although it will be expensive.
     
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