Help Wih E&O Insurance

[jazzidiva46]

Does anyone know of a company that has affordable E&O for a new agent. I have been licensed for 6 months and most quotes I have received are close to 1,000 a year. I have E&O with a couple of companies that I am working for but it only covers me for those companies. I need my own policy that covers all.
Any leads will be very much appreciated.

 

[lqdirect01]

Does anyone know of a company that has affordable E&O for a new agent. I have been licensed for 6 months and most quotes I have received are close to 1,000 a year. I have E&O with a couple of companies that I am working for but it only covers me for those companies. I need my own policy that covers all.
Any leads will be very much appreciated.

Do you need it for P/C or Life/health/annuities?

 

[CatalystNV]

New phrase for me: what is E&O?

 

[souldeux]

New phrase for me: what is E&O?

Errors and Omissions insurance. It's a type of professional liability insurance that many carriers require you to have. It protects your assets against your mistakes, basically.

The reason we're concerned with what line of insurance jazzdiva sells is that the pricing is radically different for P&C than for life and health, and variable products add a whole other wrench.

 

[Barren64]

I also need to find E&O insurance for Life, Health, and Annuity. Does anyone have any suggestions.

 

[kwimberl]

I also need to find E&O insurance for Life, Health, and Annuity. Does anyone have any suggestions.

Yes, there are several carriers that offer sponsored plans that are very decent and affordable. On the health side: Some of the blues, World, Assurant. On the life side: Foresters probably has the best sponsored plan.

If you need specifics on any of these, feel free to PM or email me. As a general ballpark, you are looking at $460 - $520 per year depending on the carrier.

 

[ksigmtsu]

I also need to find E&O insurance for Life, Health, and Annuity. Does anyone have any suggestions.

The E&O that you can get being a member of IHIAA is 400 a year and covers all life health accident and LTC. I'm not sure if that includes annuity though, but I've never sold one.

 

[0b1kanobee]

I use this company, CalSurance. Best price I have found yet and I am covered for life, health, LTC, annuities.........just not covered for anything securities related.

http://www.calsurance.com/

 

[ksigmtsu]

Make sure you read the calsurance policy carefully. I noticed on mine upon careful inspection that it was written only to cover the specific carriers that EMG used and it was actually more expensive than the one you can get through IHIAA membership.

 

[Barren64]

Thanks for the replies. It was very helpful.