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Old 09-23-2016, 04:24 PM   #1
Pal
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E&O for Agent/agency E&O for Agent/agency
Hi,
I am a new agent who has been licensed for Life&Health recently and planning to start my own agency(LLC). I will be the sole producer for the agency. Can anyone please let me know if I have to take E&O for me or agency.

Thanks in advance for your time...
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Old 09-29-2016, 05:52 AM   #2
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goillini52 on E&O for Agent/agency
 
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E&O for Agent/agency Re: E&O for Agent/agency
Originally Posted by Pal View Post
Hi,
I am a new agent who has been licensed for Life&Health recently and planning to start my own agency(LLC). I will be the sole producer for the agency. Can anyone please let me know if I have to take E&O for me or agency.

Thanks in advance for your time...

You don't have to carry it unless the carriers you write for require it. It only runs about $40 a month and it's tax deductible. CYA!
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Old 09-30-2016, 10:53 AM   #3
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Join Date: Mar 2012
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State: marindependent is an Insurance Agent from Undisclosed Location
E&O for Agent/agency Re: E&O for Agent/agency
You should speak with your lawyer and your E&O Insurance agent on this one.

However generally speaking as a One Person Agency, Your E&O policy would be listed with both your name and your Agency's name.

This however may be changed by the state that you are in and the differences in state laws. lastly check with your State Insurance regulator as to what they require.
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