I Need 2 Million $$ Cap Life Accident and Health E&O

Discussion in 'E&O - Errors and Omissions for Insurance Agents' started by kalifa18, Feb 8, 2016.

  1. kalifa18
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    kalifa18 Member

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    Napa has an interesting product:
    $1 Million per claim / $3 Million annual aggregate – Great news! $1M/$1M limits have been increased to $1M/$3M for the same low price.
    $2 Million per claim / $2 Million annual aggregate $469
    Deductibles And Retentions
    (according to their website)
    E&O for less has:
    $1M/Each Claim
    $2M/Aggregate
    $497

    Are they both well accepted by the insurance companies?
    Which one is better for a $2 million cap for Life Accident and help/
    Thanks
     
  2. goillini52
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    goillini52 Well-Known Member

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    NAPA's fine. They have several company sponsored programs. It depends on whether or not you need $2Million per claim or per year as to which one's better for you.
     
  3. kalifa18
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    kalifa18 Member

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    Thanks bro. I assume 2 million dollars cap means 2 million per claim. Is that right?
     
  4. goillini52
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    goillini52 Well-Known Member

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    Yes...the 2 Million aggregate is for the year.
     
  5. kalifa18
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    kalifa18 Member

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    Ok,thanks,i got it 2 M cap means 2M maximun in 1 calendar year.
     
  6. goillini52
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    goillini52 Well-Known Member

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    You could have two $1Million claims that total $2Million per year.
     
  7. kalifa18
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    kalifa18 Member

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    You're right. I went with NAPA 1M/3M.
    Thanks
     

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