EOCoverage.Com

E&O for P&C Agents?

Apr 15, 2008

  1. gradyinsurance
    Offline

    gradyinsurance Super Genius

    Posts:
    133
    Likes Received:
    0
    State:
    North Carolina
    I'm looking at getting into the P&C business, and contacted an agency called The Potter Group (see other post). Anyway, they said that I would have to have E&O that would pay at least "500 per occurance". Does anyone know exactly what that means? And how expensive, on average, is E&O for a newly licensed P&C agent?

    Thanks, Dave
     
  2. djs
    Offline

    djs Super Moderator Moderator

    Posts:
    6,679
    Likes Received:
    74
    State:
    California
    500 per occurance is obviously $500,000 per your single screwup. This is low, most will want a million.

    Plan on $600 a month, $3600 a year. Might vary a bit, but this will give you a decent budget.

    Dan
     
    djs, Apr 15, 2008
    #2
Loading...