E&O Declined Quote

[mariemerganser]

Our agency applied for E&O through Wesport. They declined to quote our agency b/c the agency owner is not 220 licensed only the agent in charge and agents are 220 licensed. Does this sound like normal practice?

 

[insuranceexec]

Our agency applied for E&O through Wesport. They declined to quote our agency b/c the agency owner is not 220 licensed only the agent in charge and agents are 220 licensed. Does this sound like normal practice?

Pardon my ignorance. What is a 220 license?

 

[mariemerganser]

It's a Property & Casualty License.

 

[hexp23]

Marie, Are you located in Florida? Were you able to get the E&O insurance you needed, if so from what carrier?

Thank you

 

[Soaringagent]

hmm, that is interesting.. Did you try any other insurance markets?

 

[INTLXS]

Why have you not applied for an agency P&C license? To be truly in compliance both the agent and agency must be licensed. If a carrier pays commission to an agency it has not licensed they could be in jeopardy. Spend the money, get the license. It is a cost of doing business.