Errors and Omissions insurance

[senior-advisor-indiana]

I will probably get it soon just because some of the carriers I want to write require it. I have not had it for 5 yrs though. I don't think there is anything I could get sued for though. I disclose everything and mostly sell med supps. Not too much to mess up there unless you totally screw someone.

 

[kingedgars]

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

I need it to protect my ass while I sell for the MA special-needs program. Yeah, I was already clear on that.

 

[jaguar99]

Just an FYI regarding E&O Insurance. I needed e&o and someone told me about a site by Titan Marketing Group that offers E&O ($1m/$3m) for $45 per month, with a $50 set-up fee. You do not have to be contracted with Titan to get the coverage at that rate. I signed up and had my certificate within 2 hours.

Low Cost Errors & Omissions.

 

[Bentleyfinancial]

Assurant Health (Time) has affordable E&O. There is no down payment/set up fee and I believe its around $40 a month.

 

[The Rabbi]

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

What kind of answer is that?

 

[The Rabbi]

I just bought my own policy from NAPA. They were fast. It is $800 or $900 yr depending on what you need. I prefer to own my own E & O. I had it through an FMO and then they went to a plan that didn't name the agent.

 

[arnguy]

Assurant Health (Time) has affordable E&O. There is no down payment/set up fee and I believe its around $40 a month.

Yes, you are absolutely correct; however, you must be appointed with Assurant to get their E&O.

 

[Bentleyfinancial]

Really.....I guess I was unaware of that. I was looking around for affordable E&O for some of my new agents and that was the best price I could come up with. American Fidelty had a decent plan at like $45 a month but they had a $140 up front and you had to write a piece of business through them in the first sixty days or your policy would cancel.

 

[retread]

I agree: this should be a sticky. This is the upteenth time I have posted this link.

If you contract with a GA or MGA that is contracted with Blue Cross/Blue Shield, or Premier Senior Marketing (FMO), then check out MGA Insurance Services, 9024 /Town Center Parkway, Lakewood Ranch, FL.

Their company website is: MGA Insurance Group

To get info on who to obtain sponsorship go here: BCS Errors & Omissions Program

and to get sample info (such as mine in thru BX Kansas City) with policy rates go here: http://www.bcs-eo.com/bcs_kc_default.aspx

We are talking LIFE & HEALTH coverage here, folks. P&C is a whole 'nother ball game!

 

[kew]

Napa is owned by American Republic. And American Republic owns World.