EOCoverage.Com

Errors and Omissions

Dec 5, 2007

  1. Agent574
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    Agent574 New Member

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    Hello all. I’m brand new at insurance. I was promised a job upon completing the state exam. As I get deeper into this I’ve been running across some frightening concepts. Can someone explain what “Errors and Omissions” are? How worried should I be as long as I don’t lie, mislead or guess at something when explaining policies to clients? Thanks.
     
  2. 2112Greg
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    2112Greg Guru

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    As long as you done none of that, you'll be fine. Just get the E&O, as some carriers require it...you'll be fine.

    No worries.

    Be honest, be straight and always keep your clients best interests at heart. That's the key to this business.

    :)
     
  3. GoCubsGo
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    GoCubsGo Guru

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    Been an agent over 10 years and have never had an E&O claim. Never know anyone that has. What are some ways agent might get in trouble and need the E&O coverage? Anyone have any horror stories?

    Merry Christmas!
     
    GoCubsGo, Dec 18, 2011
    #3
  4. GreenSky
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    GreenSky Guru

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    Since you replied to a 4 year old post, I'm pretty sure it's no longer a NEW venture.

    Rick
     
    GreenSky, Dec 18, 2011
    #4
  5. jtm1240
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    jtm1240 Expert

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    Good point. I am new to the site and will be more careful in the future. Why would there be a four year old post?
     
    jtm1240, Dec 19, 2011
    #5
  6. Neptune1
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    Neptune1 New Member

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    Hello all,
    I am new to this. Can someone tell me why a broker-dealer in New York can force New York agents to come under their E&O policy?
    Thanks
     
    Neptune1, Dec 22, 2011
    #6
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