E&O For Independents

Zoaty

Expert
85
Do different agencies, brokerages, and insurers usually require different amounts of E&O for their producers?

Is it usually ok to purchase the E&O on your own, or do you usually have to do it through a brokerage that hires you as a producer?

Thanks!
 
I buy my E&O on my own. Unless you're in a captive type of situation, it isn't a problem to be appointed as long as you have at least $1m coverage.

The only time I was told I had to buy a specific company's E&O was as a captive agent... and when I was considering joining an RIA.
 
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