E&O Insurance Claims

leigh

New Member
Had E&O claim filed in 10/08 because Ins. Co. denied claim for mortgage disability payment, as the insured's own Dr. would not certify him disabled. My E&O carrier's attorney advised me to take a $5,000 settlement to be released from suit. (2,500 ded for me and E&O carrier 2,500) I did, but was not told I would be non-renewed by E&O carrier. Now the only coverage I can obtain is around $5,000 a year. Does any know where I can get coverage more reasonable ? This is the only claim in 25 years as an agent.
- - - - - - - - - - - - - - - - - -
Cal Surance.
 
Last edited:
Re: E&O Ins.

I would have ridden it out.....you did nothing wrong.......

Had E&O claim filed in 10/08 because Ins. Co. denied claim for mortgage disability payment, as the insured's own Dr. would not certify him disabled.
 
Re: E&O Ins.

If his Dr will not classify him as disabled where is/was the problem?

I think the Attorney has hung you out to dry.
 
Re: E&O Ins.

I I feel that was also. It was my first time to go through this. I think he had the E&O Company's best interest at heart. They probably figured it would cost a lot more to go to court. If it had not thrown me into high risk catagory, I would not have minded. i just need to find the most reasonable Co. to apply to.
- - - - - - - - - - - - - - - - - -
The problem was anyone can file a suit for anything. Everyone with any possible connection was named also.
 
Last edited:
Re: E&O Ins.

You got what I'd consider to be the world's worst advice. Unless there's more to the story (which there always is) - you're somehow partially liable because the insured's doctor wouldn't certify him as disabled?

The client's attorney was simply using the shotgun approach; "sue everyone" to see who would flinch.
 
Re: E&O Ins.

The direct answer to your question is I'm surprised to can even pay 5K. Most of the E&O carriers I now auto decline if you've been hit with a previous claim that resulted in a payout. I'm sorry that doesn't help.
 
Back
Top