EOCoverage.Com

Errors and Omissions insurance

Jun 12, 2007

  1. kingedgars
    Offline

    kingedgars Expert

    Posts:
    22
    Likes Received:
    0
    I need to get Errors and Omissions insurance to sell a Special Needs Program in Medicare Advantage. Anyone have suggestions for reliable and affordable E&O insurance?
     
  2. nate124
    Offline

    nate124 Guest

    I'm interested in the same answer... I need to get something as well, and am curious what is the most affordable out there. Thanks in advance!
     
    nate124, Jun 12, 2007
    #2
  3. Delta76
    Offline

    Delta76 Guru

    Posts:
    596
    Likes Received:
    4
    If your a member of NAIFA, look at there sponsored program through Aon. If not, consider becoming a member, it's a great organization.
     
    Delta76, Jun 12, 2007
    #3
  4. senior-advisor-indiana
    Offline

    senior-advisor-indiana Guru

    Posts:
    11,299
    Likes Received:
    231
    State:
    Indiana
    If you contract through any Great American Company YOu can get it through NAPA for less than $40 per month.
     
  5. BKrocko
    Offline

    BKrocko Guru

    Posts:
    314
    Likes Received:
    1
    BKrocko, Jun 12, 2007
    #5
  6. GreenSky
    Offline

    GreenSky Guru

    Posts:
    15,339
    Likes Received:
    455
    State:
    Nevada
    You do not E&O for a special needs program. You need to it protect your ass in case you get sued.

    A professional in this business has coverage. A "wanna-be" does not.

    Rick
     
    GreenSky, Jun 12, 2007
    #6
  7. senior-advisor-indiana
    Offline

    senior-advisor-indiana Guru

    Posts:
    11,299
    Likes Received:
    231
    State:
    Indiana
    I must be a wanna-be. Or maybe I just do things honest and ethical.
     
  8. James
    Offline

    James Guru

    Posts:
    2,152
    Likes Received:
    0
    One could argue that having E&O only increases your potential to be sued. Even though one should have it, I couldn't imagine we look to cover the "What If" for our clients but, ignore our own "What If". That just wouldn't seem correct or advantageous on our part.
     
    James, Jun 13, 2007
    #8
  9. GreenSky
    Offline

    GreenSky Guru

    Posts:
    15,339
    Likes Received:
    455
    State:
    Nevada
    You are either just lucky or perfect. Nothing to do with honesty or ethics. Everyone can make a mistake and anyone can have an allegation, even unfounded.

    For about $500 a year, I look at E&O as my only madatory expense. There is no stock to keep on my shelves, no sales tax, etc.

    I would be afraid to render advice to the public without the coverage.

    Let me modify my quote: A professional would be foolish to not have the coveage.

    Rick
     
    GreenSky, Jun 13, 2007
    #9
  10. Crabcake Johnny
    Offline

    Crabcake Johnny Guru

    Posts:
    14,811
    Likes Received:
    15
    State:
    South Carolina
    Go read an E&O certificate and try to come up with a single example where E&O would actually pay. E&O is the biggest scam in the insurance biz. Yes, I have it - it's required by most of my carriers.
     
Loading...