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

Jul 22, 2015

  1. Ty Lim
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    Ty Lim New Member

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    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!
     
    Ty Lim, Jul 22, 2015
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  2. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    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.
     
    DHK, Jul 22, 2015
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  3. Ty Lim
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    Ty Lim New Member

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    Thanks for your input.
     
    Ty Lim, Jul 23, 2015
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  4. cgreene
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    cgreene Guru

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    So if you are a single person agency do you need e and o for you and the agency
     
    cgreene, Aug 1, 2015
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  5. indienoise
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    indienoise Guru

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