E&O Renewal

jackdaniel

New Member
11
This is my first year as an agent. My E&O is up for renewal. They sent me a letter asking 10 different questions about being the subject of disciplinary actions, investigations, etc.

In all the questions it asked....by any state or federal regulatory agency or any other agency?

My question is does an insurer count as an "agency"? I've had my AARP appointment cancelled for cause because of sales and marketing practices but never lost any state licenses due to it and never was the subject of any investigations or anything by any state or federal agency.
 
Probably not, as it apparently didn't mention insurer. Also make sure it doesn't ask about appointment lost for cause.

Really, I'd call up the E&O carrier and ask. I'd also document who I spoke with if they tell you it is ok to answer it as no. They know what they are looking for when answering the question and it pays to document.
 
Thanks, I just got off the phone with them. They said to cb and speak with legal as to their definition of "agency".

My thoughts were the same as yours though. I'd like to think that they would have said insurer if that's who they were referring to.

Thanks!
 
You need to list this on your application. If the UW doesn't find it to be a problem, they won't rate you higher.
 
Back
Top