Over 150.000 insurance professionals and consumers come to the Insurance Forum every month. Click here to register for FREE


Go Back   Insurance Forums > Insurance Agents and Brokers Forum > E&O - Errors and Omissions for Insurance Agents

Reply to E/O Coverage----suspended?     
Old 06-14-2017, 04:11 PM   #1
Guru
 
Join Date: Nov 2014
Posts:422
State: Gulfman is an Insurance Agent from Florida
E/O Coverage----suspended? E/O Coverage----suspended?
I'M scratching my head on this one

I was talking to a friend of mine who mentioned a case where an agent was being sued and his EO company was IN FACT defending him. (story was he sold a malpractice policy to some doctor who got sued for 5 million---someone died). ANYWAY, the agent had e/o coverage for 2 million (not sure what he did wrong---if anything). AND the attorney's are suing everyone (figures).

HOWEVER, i was told that he couldn't get E/O from any other carrier while the case is pending???

Is this BS or what? (i've never been sued but wat da hell?)
------------------------------------
  Reply With Quote to E/O Coverage----suspended?
Old 07-01-2017, 08:45 PM   #2
Guru
FEX Quotes on E/O Coverage----suspended?
 
Join Date: Mar 2011
Posts:1,090
State: FEX Quotes is an Insurance Agent from New Jersey
FEX Quotes is a member of 1000 posts VIP club
E/O Coverage----suspended? Re: E/O Coverage----suspended?
Not BS, but why would you be upset?
------------------------------------
  Reply With Quote to E/O Coverage----suspended?
Old 07-08-2017, 12:09 PM   #3
Guru
 
Join Date: Nov 2014
Posts:422
State: Gulfman is an Insurance Agent from Florida
E/O Coverage----suspended? Re: E/O Coverage----suspended? Gulfman is the thread starter for: E/O Coverage----suspended?

Originally Posted by FEX Quotes View Post
Not BS, but why would you be upset?
That's an interesting question. You mean you're not? So, another industry practitioner is DRAGGED through the mud over a lawsuit where he didn't have enough coverage---but that doesn't bother you??

Interesting...

NOT ME. If it happened to him, it could happen to anyone (including me). I do my best to stay outta trouble (do everything on the level, dot my i's cross my t's)), but agents make mistakes (that's why they get EO).

TRUTHFULLY, i don't believe the agent did anything wrong...its just some lawyers going after anyone and everyone to "shake them down"---that's the nature of the "lawsuit industry."

WHY DOES THAT MAKE YOU INDIFFERENT?


???
------------------------------------
  Reply With Quote to E/O Coverage----suspended?
Old 07-08-2017, 01:00 PM   #4
Guru
VolAgent on E/O Coverage----suspended?
 
Join Date: May 2009
Posts:12,986
State: VolAgent is an Insurance Agent from Tennessee
VolAgent is a member of 5000 posts Super VIP club
E/O Coverage----suspended? Re: E/O Coverage----suspended?
Originally Posted by Gulfman View Post
That's an interesting question. You mean you're not? So, another industry practitioner is DRAGGED through the mud over a lawsuit where he didn't have enough coverage---but that doesn't bother you??

Interesting...

NOT ME. If it happened to him, it could happen to anyone (including me). I do my best to stay outta trouble (do everything on the level, dot my i's cross my t's)), but agents make mistakes (that's why they get EO).

TRUTHFULLY, i don't believe the agent did anything wrong...its just some lawyers going after anyone and everyone to "shake them down"---that's the nature of the "lawsuit industry."

WHY DOES THAT MAKE YOU INDIFFERENT?


???
Will his current carrier renew his policy? If not, then yes I would be upset. As long as they will renew, I can't say I am surprised. In general, companies avoid insured's who have an open claim.

He probably could go to the E&S market, although it will be expensive.

------------------------------------
You can pay the premium or you can own the loss.
  Reply With Quote to E/O Coverage----suspended?
Reply to E/O Coverage----suspended? 

  Insurance Agent Forum > Insurance Forums > Insurance Agents and Brokers Forum > E&O - Errors and Omissions for Insurance Agents




Similar Threads with E/O Coverage----suspended?
Thread Thread Starter Forum Replies Last Post
COBRA and The New Laws 0b1kanobee Health Care Reform Forum 53 01-21-2016 08:27 AM
Is Nilus a Nutjob? Bob_The_Insurance_Guy Senior Insurance Forum 37 06-13-2014 06:07 PM



All times are GMT -5. The time now is 02:57 PM.

Forum enabled with vBulletin®
Copyright ©2000 - 2017, vBulletin Solutions, Inc.


Join the Forum - It's FREE

Share This Page



Weekly Poll

Where do we go from here? POLL
Nothing - No ACA fixes - status quo
29.82 %
HHS Rulings and band aid bills
17.54 %
Hail Mary repeal and/or replace bill
17.54 %
A bipartisan bill to fix ACA
35.09 %

Voters: 57. This poll is closed