E&O for P&C Agent

[GotInsurance]

I'm looking for E&O for my P&C agency. I just left the captive side after 5 years and decided to go indie.

I have a few suggestions through my membership at iiaba.net, but just in case, I would like to appy to a few more.

I've found plenty of threads about L&H but that's down the road for me. Thanks.

 

[Mark]

I hear P and C E and O cost a lot more than Life or Health E and O.

 

[GotInsurance]

W O W ! That's helpful!

 

[rmhaire]

The best rate I've seen so far is from uniteddefendco.com. They cover L&H and P&C much cheaper than anyone I've seen yet. Don't know about their financials, reputation etc. You'll need to check them out. You can get $1M here in Georgia for around $450 a year.

 

[wappahso]

Thanks for sharing. I needed to save money on mine. E&O is a killer if you are starting out with no recognizable profit.

 

[Alston]

You may find that one of your carriers sponsors an E & O policy.

I'm not a P&C guy. I mostly sell health insurance, but we got a good deal through the company that one of our carriers sponsors.

The errors and omissions insurance policies that my son and I have are sponsored by one of our health companies but covers us when we sell through the other carriers also.

Try contacting one of the companies you are contracted with or want to be contracted with and you will probably be pointed in the right direction whether they sponsor an E&O plan or not.

 

[669comche]

Uniteddefendco is not really EO coverage.

Its a risk retention group and in the small print they make no guarantee to pay any claims.

Try insurance by design (google them)

They have the best rates that I have seen in a while.

 

[contractorins]

I'm a P&C Guy and it is expensive for E&O. I've always paid over $2k w/Lloyds Program even with really small premium book. I'm actually getting my renewal quotes right now and found, what I believe is, a new program and they say the MP is around $1,200 + fees. It's an A Rated Carrier. I have not received the quote yet, but will let you know when I do. I was referred to this guy by another agent that said she went from over $3,500 to less than $2,500, but other than that I don't know much about him. Feel free to contact him, I'm sure he'd enjoy leads from people that he doesn't even know. Let me know how it goes.

 

[TWAgent]

Thank you all for making this a great discussion. I've even found this information very useful for starting out.

 

[OCinsurance]

I would be happy to get an E&O quote for anyone that I can assist. I am licensed in 40 states.

The application can be found at:

Professional Liability Insurance - E&O Insurance - Malpractice Insurance - Errors and Ommissions Insurance - New Agents Welcome

I can also quote your Property and Casualty agent E&O if you sell life and health products as well.

I look forward to helping you all.