E&O Insurance Coverage Comparison?

[NYBernie]

Hi all. I am in the process of looking for my first E&O insurance for fixed life, accident, health, travel insurance, and fixed annuities. I will have an agency (LLC), but don't plan on hiring any employees right away. Operating in NY, which makes it fun comparing E&O policies as most have NY specific endorsements!

I've looked at NAPA (direct), E&O For Less, and CalSurance (both Foresters and SMS sponsored). Pricing looks to be about the same for all, $450-$600 (close enough for me).

The SMS sponsored E&O appears to be the only one that specifies coverage of travel insurance. It also has a laundry list of coverage extensions; disciplinary proceedings, subpoena compliance, privacy breach, and even a sublimit for punitive damages. I'm not currently contracted with SMS (or anyone for that matter) - are there other E&O policies that have the extra bells and whistles?

If cost is not the driving factor, does anyone have any comments on the policy language/wording, or additional coverages provided, that one should look out for when reading the sample policies?

Thanks!

 

[NYBernie]

That was long winded :-) Any opinions about who offers the most comprehensive LAH E&O coverage for agents?

 

[Gswhit01]

There are several companies that provide E&O insurance for L&H agents. There are some very competitively priced policies. If you are with an FMO, they typically provide E&O options but most only cover you for the products you sell through them. Getinsured247.com has a policy that covers you for all the products you sell.