Why E&O Insurance is a MUST (ie "a Claim Could NEVER Happen to Me")

[xrac]

don't all carriers require e and o? how u operate without it?

The answer is no not all carriers.

 

[Newguy23]

How much does E&O insurance typically cost in CA and how do you get it?

 

[senior-advisor-indiana]

You never said what the E&O paid or I missed it. I do not personal know any agents that E&O has ever paid a claim for.
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I assume the E&O paid nothing then? So what's the point o the thread? That you almost had to use it?

 

[Tom Highway]

You never said what the E&O paid or I missed it. I do not personal know any agents that E&O has ever paid a claim for.
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I assume the E&O paid nothing then? So what's the point o the thread? That you almost had to use it?

They didn't pay anything, the insurance company made a very low settlement and the case was dismissed. All of the attorney fees were covered.

Take what you want as the point of this thread, if there is no point in this thread for you, then you either already have E&O insurance and this information is not necessary, or you are one of the people telling new agents they don't need E&O insurance. But as one of my middle school teachers used to say, "a word to the wise is sufficient".

 

[xrac]

They didn't pay anything, the insurance company made a very low settlement and the case was dismissed. All of the attorney fees were covered.

Take what you want as the point of this thread, if there is no point in this thread for you, then you either already have E&O insurance and this information is not necessary, or you are one of the people telling new agents they don't need E&O insurance. But as one of my middle school teachers used to say, "a word to the wise is sufficient".

Tom, did his cost you any money out of pocket like a deductible?

 

[senior-advisor-indiana]

They didn't pay anything, the insurance company made a very low settlement and the case was dismissed. All of the attorney fees were covered.

Take what you want as the point of this thread, if there is no point in this thread for you, then you either already have E&O insurance and this information is not necessary, or you are one of the people telling new agents they don't need E&O insurance. But as one of my middle school teachers used to say, "a word to the wise is sufficient".

I do carry E&O but it seems pointless to me. I personally think E&O is a waste of money. I don't know of any agents that have had to use it. It didn't help Glenn Nasheem(spelling) out. Does anyone here know of an agent that has had there E&O actually pay a claim? Not hearsay, but actual know for a fact.
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I do carry E&O but it seems pointless to me. I personally think E&O is a waste of money. I don't know of any agents that have had to use it. It didn't help Glenn Nasheem(spelling) out. Does anyone here know of an agent that has had there E&O actually pay a claim? Not hearsay, but actual know for a fact.

The point wasn't to offend you either...