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What is a normal type claim that E&O does cover?
Senior Life Insurance Company Rating?
- Thread starter go4life
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What is a normal type claim that E&O does cover?
Dispute over a claim being denied.. Incomplete information on the application where the agent is blamed by the policyholder.. Claims by the client of agent misrepresentation , etc. The coverage for B, C, non rated companies is the sames as A rated companies with the except of claims brought about due to company insolvency.. Those would be claims where the client claims you should have known not to place their business with a non A rated company.. However, since the company is licensed by the state to do business in that state, that type of claim probably would not be successful but could be expensive to defend against out of pocket.
- 11,280
I'm going to try and use my E&O this year to see if it actually works...
I have heard that those Senior life agents run around with no E&O along with the LH agents. You could always test the waters by saying its the lowest priced policy in your bag and sell them LH
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I think you may find that a little difficult. I understand most claims involve policies. So you have to go sell something first.
I think you may find that a little difficult. I understand most claims involve policies. So you have to go sell something first.
There has to be a catch to everything.
- 11,280
I think you may find that a little difficult. I understand most claims involve policies. So you have to go sell something first.
So you agree that me having E&O is a waste of money too then?
- 15,041
For you, yes. It definitely is a waste of money.
