E&O for Life....Calsurance

[redsquash]

1) I renewed my Life E&O with Calsurance for 2011. The certificate shows effective date as 01/01/2011. I have had my E&O with them in 2010 as well, so shouldn't the new certificate shows effective date as XX/XX/2010. Its a CLAIM MADE AND REP policy. I spoke with CSR, and she said this is fine, because if any claims is made in 2010, the 2010 policy will cover that. I'm still not sure, what about claims occured in 2010, but reported in 2011

[I think, I'm OK...but wanted to confirm and make sure]

2) In the Product description of the Certificate, it mentions Life, Health, Disability or Accident Insurance. Does this description of product covers activities for disability income insurance. I spoke with Calsurance CSR earlier, and she said YES, it does cover Disability Income Insurance. I just dont want to take her words, and want to check with the experts here.

Thank you

 

[Norwayguy]

1) I renewed my Life E&O with Calsurance for 2011. The certificate shows effective date as 01/01/2011. I have had my E&O with them in 2010 as well, so shouldn't the new certificate shows effective date as XX/XX/2010. Its a CLAIM MADE AND REP policy. I spoke with CSR, and she said this is fine, because if any claims is made in 2010, the 2010 policy will cover that. I'm still not sure, what about claims occured in 2010, but reported in 2011

[I think, I'm OK...but wanted to confirm and make sure]

2) In the Product description of the Certificate, it mentions Life, Health, Disability or Accident Insurance. Does this description of product covers activities for disability income insurance. I spoke with Calsurance CSR earlier, and she said YES, it does cover Disability Income Insurance. I just dont want to take her words, and want to check with the experts here.

Thank you

Yes and Yes a claims made policy means that it will cover you for claims made during this policy period ie you get sued in 2011 for something that happened in 2010 you would be covered...And Disability would cover DI...However from what you wrote I am not sure you are covered for the sale of Annuities.

 

[redsquash]

Thank you for the response. You have been very helpful to me.

Fixed Annuities are covered, I didn't mention it in my question, because i) It mentions specifically, and ii) I wont be doing any annuities anyway.

Yes and Yes a claims made policy means that it will cover you for claims made during this policy period ie you get sued in 2011 for something that happened in 2010 you would be covered...And Disability would cover DI...However from what you wrote I am not sure you are covered for the sale of Annuities.

 

[Norwayguy]

Thank you for the response. You have been very helpful to me.

Fixed Annuities are covered, I didn't mention it in my question, because i) It mentions specifically, and ii) I wont be doing any annuities anyway.

No problem, things do have a way of changing at times

 

[jacobtn]

and ii) I wont be doing any annuities anyway.

well that's stupid.

 

[Norwayguy]

well that's stupid.

Not necessarilly, some people should not be out selling annuities...I think John Healthagent from his postings admits he does not understand the products which is fine...Redsquash has fixed annuities covered I would verify that it includes indexed annuities (yes I know they are fixed annuities but I have seen them specifically included and excluded from E&O coverage) in case he changes his mind about this product.

 

[redsquash]

How "intelligent" is it to make a comment like that, without knowing a bit about the poster?

well that's stupid.

</IMG>

 

[GreenSky]

How "intelligent" is it to make a comment like that, without knowing a bit about the poster?

You must always consider the source.

Rick

 

[pecosins]

You need to read your policy about coverage. Do not reply on certtificate and CSR. Effective date is correct, if you want to find out if your policy cover 2010 in 2011, check on retroactive date to cover past act.