New Life Agency E&O Dilemma, Please Help:)

[Ty Lim]

Greeting fellow pros. I am starting a new Life Agency and will be recruiting 1099 agents to sell exclusively under my agency.

Should I get E&O for just my agency and cover all my future agents or have them all get their own?

If everyone gets their own, do you recommend I get E&O for the agency as well?

Any recommendation for agency E&O?

Thanks much!

 

[DHK]

All independently contracted agents (1099) are responsible for their own E&O. So are you as an agent and agency owner for your own acts.

If you have W2 employees, there may be a difference in the kind or coverage you'd need.

You might want to check out the forum sponsor E&O for less in the E&O sub-forum.

 

[Ty Lim]

Thanks for your input.

 

[cgreene]

So if you are a single person agency do you need e and o for you and the agency

 

[indienoise]

If it's just you and youre a proprietorship, an individual e&o policy should work. Incorporated, you'll probably need agency e&o.