E&o For New P&c Agents

[greenagent]

HOw can a new P&C agent who is trying to start a shoe string company to grow into a nice shoe, find E&O coverage for P&C?

[Cash]

E&O is out there but it does indeed cost money. Try looking in a Kirschners Guide for a list of people who offer E&O. Shop is as prices do vary. If you are indeed green, maybe joining an association like the American Agents Alliance would help. They can help you with finding markets and E&O.

[greenagent]

Thanks but the AAA is a california only organization. I have a business background, just green in the ways of P&C E&O

[Clozer]

If you have your life and health license you can get e & o through a carrier, MOO, UTA, etc. hope this helps

Clozer

[92builder]

Try your state association first!

[Rob]

I sell E&O insurance and usually it isn't difficult to come by, its just that the cost is probably more than any of us would like to spend. There are several GA's you can go through to access E&O carriers. If you need help, email me at rob@goldenstatewest.com

Rob

[coast to coast insurance]

I broker Insurance Agents E&O and can help but expect annual premiums of around $3,000/yr (+/-)...can access multiple carriers for your coverage.

Shannon Tornoe
CCIB
610-225-0553 tel
610-225-0554 fax

[holagy1]

I know there are differing opinions but I will give you mine of
18 years.
Go to you State Association. Having been a member of both, PIA
is by far the best.(I am sure it varies by state.) If your business is majority L&H with growing P&C you may be able to save some money by purchasing a L&H E&O policy with a P&C Endorsement.
Thanks/TN

[Joe_Petrelli]

We offer a product that covers the insolvency of the issuing carrier. The carrier buys the policy to protect its agents, no cost to the agent.

1 800 354 7207.

[loudmouth]

Try Arrowhead. when I was starting out in the business I had the same problems. You'll have to go with Lloyds for first year or two...I paid annual premium of 1500 and 1700 for two years. protection was for 1M with defense costs included. Coverage wasn't all that great after the first two years I moved to AIG.

I hope you enjoy your new career.

Good luck.

[sanddog1]

I guys good post. Try PIA...you will get a quote through CIA Ins., without jointing the association. The new agency can expect $3500, easily in CA, P & C , L/D. There just isn't much exposure with life only licence. Blue Cross is dirt cheap if you only need E & O for Life/Health & disability . Allied General will quote E & O without an appointment with Nationwide Allied Ins. The cost 3500 to 4000. OK there you have it. No bull crap

[bookra43]

Does anyone know if there are any companies writing an easy Cancer Policyies in FL that is open to IA?

Thank you, paul100@cfl.rr.com

[volstrike3]

I just went through this 9 months ago with a start up agency. The best rate was with Lloyds through Arrowhead for $2800 or so. I shopped around a bit and everybody was between $2800-3500... I don't think you will do any better than that as a start up.

[INTLXS]

Try: http://www.rockwoodinsurance.com/page_d ... spx?pID=24

we deal with them and they have an affordable program

[volstrike3]

I just got a flier from WIAA Insurance Services claiming a $1250 MP with new ventures accepted so I will give them a shot at my renewal. I cannot vouch for it but it could be worth a call. Their phone number is 800-553-4221