Where is the "best" Place to Get E&O (2mill.)

briko3 · 03-22-2009, 05:42 PM

I need to know of a place that offers quality E&O for a reasonable price. I am not securities licensed.

Thanks,
Chris

SoCalBroker · 03-22-2009, 06:10 PM

Should we just assume you mean L&H only or do you need P&C too or P&C only or?

How many yrs licensed? What states are you licensed in ?

briko3 · 03-22-2009, 07:41 PM

SC, not P&C, just Life, accident, health, disability, annuities, etc. I've only been licensed since Aug of last year. The company I'm with now is going to be $2200 for the next year and I need something cheaper if possible.

Thanks,
Chris

VaDwayne · 03-22-2009, 07:53 PM

Originally Posted by briko3

I need to know of a place that offers quality E&O for a reasonable price. I am not securities licensed.

Thanks,
Chris

I signed up with National Ethics Bureau (NEB). It was 495.00 but it has 1 mil./2 mil. coverage. I didn't get annuity coverage which is another 50.00. The take payments if need be.

Ron Van D · 03-22-2009, 08:10 PM

Join IHIAA. The e&o is $440. That's what I did.

briko3 · 03-23-2009, 11:50 PM

I really need 2mill/2mill coverage. Any other suggestions?

SoCalBroker · 03-23-2009, 11:57 PM

Call Gregg Higgins at E. L. M. - one of the best in the biz - if he cant do it he will direct you.

ELM Insurance Brokers - Home

http://www.e-o.com/contact_us_New.aspx

Tell em Steve Aylor sent you and to be gentle with the Broker Fee!

Markingriffin · 03-24-2009, 09:33 PM

I can help anyone get $95.00 off of the membership from the NEB. The discount code is rosenthal95 for a limited time only.

briko3 · 03-24-2009, 09:58 PM

I really want to do it through NEB, but I'm not getting a response from them on if they can up it to 2mill/2mill. I've got to have something by the 31st or I have to renew with $2200 per year :( Cutting it close, I know.

dgoldenz · 03-24-2009, 10:38 PM

Health Choice One allows you to get $2M/$2M for something like $700/year if you're using them as your brokerage facility. I'm not sure how quickly that would be available though. I signed up through NAIFA and am paying about $1,000/year for $2M/$2M right now.

Markingriffin · 03-24-2009, 10:41 PM

Have a lot of insurance companies raised the limits on E and O lately?

I didn't think most required that high of amount or that a lot of people carried that amount.

dgoldenz · 03-24-2009, 10:48 PM

Most carriers (in fact, I don't know of any) don't require $2M/$2M, but if someone ever sued you, that extra couple hundred bucks a year would be well worth it in the worst case scenario. Those who sell high face amount life insurance policies and deal with estate planning issues really should have the extra coverage.

Markingriffin · 03-24-2009, 10:57 PM

Most of my life companies do not require it at all.

Only Assurity and Aviva that I offer require it and they only want 1 mill.

dgoldenz · 03-24-2009, 11:16 PM

I am also only required in my state to have liability auto insurance, but I pay the extra premium for comprehensive coverage because I don't want to be stuck holding the bag if something bad happens.

briko3 · 03-24-2009, 11:25 PM

Lincoln requires me to have 2mill/2mill.

SoCalBroker · 03-24-2009, 11:41 PM

Wonder if the defense is inside or outside the policy limits on these E&O forms?

Wonder what would happen if both the husband & wife sued you for a million ... like the other post indicated what if your handling a large estate, and the heirs each sue you for $5m ?

What if the limits of cover were eaten up by $350k in attorneys fees and defense costs?

The insurance purchase process in the country is bass-ackwards I tell ya.

Wonder how many guys buying those ultra low cost forms really have a clue as to what they bought? Anybody been through a renewal with those carriers? Whats the premium bump up to?

Please tell me you guys at least understand retro dates?

0b1kanobee · 03-25-2009, 01:23 AM

I use this company: Calsurance 1-800-745-7189

Mr. Bill · 03-25-2009, 01:35 AM

Welcome to EZ Insurance Solutions!

SoCalBroker · 03-25-2009, 09:38 AM

Not sure how many guys will fit in this box?

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