MrInsurance12345
New Member
- 3
Just wondering, do you need active E&O insurance to renew a Life Insurance license? Do you ever get penalized if it lapses?
Do You Need E&O Insurance To Renew A License?
- Thread starter MrInsurance12345
- Start date
- 2,623
The best, and only, place to ask that question is your state's insurance licensing department.
- 29,488
No, but some companies require you to carry it.
- 4,575
Lots of licensed people are office staff or work for carriers. Pretty certain just being licensed doesn't require E&O. However, carriers may require you to carry E&O as condition of appointment & contract, so you need to ask a given carrier how they enforce it after initially approved to be appointed
- 5,941
Georgia doesn't require E&O for licensing.
Mostly - it's carriers requiring it to be appointed thru them.
- 11,277
No, you don't need E&O to renew your insurance license.
You (often) do need E&O to contract and remain contracted with your various insurance companies.
You (often) do need E&O to contract and remain contracted with your various insurance companies.
PrivClientSG
Guru
- 325
Depends on the state. I can't remember if there is any state that requires you to have E&O to get or renew a license. However, any decent carrier will want you to have to get contracted as a broker and write business. Even if they didn't, IMO, only a fool does business without E&O coverage.
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