Need E&O for New P&C Agent

[Mr C]

What's the best deal out there for a new P&C Agent in the Maryland area?

 

[FLInsa]

Try Rockwood Programs.

 

[moeasadi]

Rockwood will not write new agents.They require min 3 yrs experience.Try Colony and Lloyds via an MGA.In Ca. it costed me $3800.00 for my first year.

 

[MehlerAndAssociates]

I had a difficult time finding it here in Pa... No one wants to take on the exposure being that you are a new agent.

Think of it this way: You manage to get a appointment with a preferred carrier for commercial package or bop's... You neglect a much needed part of coverage for a client under the Commercial Package Policy and an issue arises that required the "neglected" coverage. This now becomes an E&O issue and the insurance company providing you that coverage is liable. This is why they want 3 yrs of experience prior to writing the E&O policy.

It is very easy to do with a lack of experience from what I have seen recently...

 

[Silver Devil]

Have you checked NAIFA or other Insurance Associations?

They almost always offer E and O to members, often at discounted Rates.

Depending on your specialty, find the appropriate association and join it if not already a member. I will pay off in many ways.

SF

 

[OCinsurance]

I have helped several people on here find E&O insurance for under $2750, including new agents. Please contact me for more information. Contact me through our form: Stratum Insurance Agency - Contact Us (I shortned the URL to prevent spam).

 

[avaloninsurance]

Rockwood gave me a quote as a first year agent, however I had over 15 years of experience in the industry.