Who do you have E & O WIth?

[Neal T Fromm]

LOL, So you don't need E&O! You sound like the prospect from Denial, USA. You convinced me that you are OK living in mediocrity. I suppose that's OK if you're content, and most likely you're right, with a modest 5 figure income, the need will never present its self in your job. The career-minded agent learned the value of the various coverages way back while attending the LUTC classes. Not to steer away from the topic, it's an easy market to grab a quick million for under $300.00 annually. Happy New Year!

 

[axeman462]

hiscox

 

[goillini52]

hiscox

 

[Allen Trent]

hiscox

 

[Markthebroker]

Allen, I need to let you know how disappointed and upset I am with this post.

Disappointed and upset I didn't think of it first. Well played.

 

[HoopsLdrly]

Price isn't the issue.
I want coverage I can count on if, I need it.

Would you add DI or annuities?
Not big in those markets, but you never know when an opportunity
may present it self.

Thanks,
Shooter

My IMO and carriers wont appoint/affil unless we have E&O. Mine is CalIns - but do not have any experience with "using" it. I like the price as a newer agent for sure, but considered is a smoking deal because my hubs liability to home inspection is 5 times what mine is. Yikes!

 

[Tahoe Ray]

My IMO and carriers wont appoint/affil unless we have E&O. Mine is CalIns - but do not have any experience with "using" it. I like the price as a newer agent for sure, but considered is a smoking deal because my hubs liability to home inspection is 5 times what mine is. Yikes!

Yeah, I never understood this discussion. Try being a financial advisor paying 10 times what we do with a 50k deductible.

Our E&O is super cheap overall.

 

[Ryan Matthison]

E&O is must have. Too much on the line not to have it imo.

 

[PrivClientSG]

I agree.

Which is why I chalk it up to a necessary business expense, but I wouldn't overthink carriers.. just because it's rare to have a claim if you're doing a decent job AND it's even rarer to have a claim that's covered.

I respectfully disagree. We are not talking illegal, breaking the law, fraud, here. At least I don't think so. I've been in the business 30 plus years and I've seen E&O carriers not only pay claims -- but even more importantly, each and every time, they paid for legal defense. You may not like it, but they paid for it, LOL. I won't argue whether or not to have it, but not having it because of some blanket belief that they don't pay claims is not accurate in my experience. All the best!

 

[Travis Price]

I respectfully disagree. We are not talking illegal, breaking the law, fraud, here. At least I don't think so. I've been in the business 30 plus years and I've seen E&O carriers not only pay claims -- but even more importantly, each and every time, they paid for legal defense. You may not like it, but they paid for it, LOL. I won't argue whether or not to have it, but not having it because of some blanket belief that they don't pay claims is not accurate in my experience. All the best!

You need to stop late night scrolling.

A post that's almost 2 years old cherry picked out of a sea of posts...

I never said "they don't pay." I said it's a necessary business expense, it doesn't matter if they rarely have a claim, much less rarely get paid out.

Insurance companies will ALWAYS try to pay the least they can to be profitable. The blanket statement is E&O is a necessary business expense. Not they don't ever pay ::eyeroll::