Newly licensed in St. Louis, Missouri (E&O Questions)

Feb 19, 2008

  1. halis
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    halis Expert

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    Hello insurance agents! Let's talk. So I passed my P&C and received my license in Missouri. I just passed my L&H in Missouri and will be applying for the license once they receive my scores.

    So my goal is to become an independent agent. I work for a tax and accounting firm and I will be setting up a contract to sell insurance to all their clients exclusively. I am also going to re-write all the insurance for the business, which is actually my first goal. So help me, these questions are layups:

    1) So, in Missouri what is a good company to get E&O through?
    2) How can I determine the appropriate amount of coverage?
    3) Will one policy cover all the different lines (property, casualty, health, life) that I might sell?

    4) I am uncertain if I should be writing the insurance through the company I have the agreement with or if I should set up my own company that operates in their office..thoughts?
    5) Will having this agreement to write for the business (and their clients) make getting P&C appointments easier? I mean technically I will have a book of business as soon as I can get appointed.

    I would love to hear from an agent in St. Louis or elsewhere in Missouri, but any help is welcome and greatly appreciated. Have a nice day!
     
    halis, Feb 19, 2008
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  2. halis
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    halis Expert

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    Oh also can I write the E&O insurance myself?
     
    halis, Feb 20, 2008
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  3. StinsonAssurance
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    StinsonAssurance Expert

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    I don't have all of the answers but on this one I can say that depending on the company that you are appointed with, they will tell you how much coverage they want you to carry. Most companies look for a minimum limit of one million dollars.
     
  4. Benefit Adviser
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    Benefit Adviser New Member

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    Try NAPA - they sell E&O. Make sure your get a few estimates - from different companies. The prices range.
     
  5. benpkwy
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    how much is their premium for P&C agency with 5 agents?
     
    benpkwy, Oct 14, 2008
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  6. mybeloveds
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    mybeloveds Expert

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    napa benefit services
     
  7. molecules32
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    molecules32 New Member

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    3. Will one policy cover all the different lines (property, casualty, health, life) that I might sell

    Yes there is one policy that covers all but it was more expensive when we started out.

    We found it cheaper to buy 2 seperate policies. One for L&H and another for P&C.

    Also, most companies require a minimum of $1 mil for coverage.
     
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