E & O Insurance

brownlee · Post by **brownlee** » Fri May 20, 2005 11:45 am

I am new to the insurance business for 2 years working for an agency. Now I want to work on my own thru websites and leads but need E&O before I can be contracted with carriers. Can anyone tell me where to get E&O in Illinois. I hear it will be very costly because I need at least 3 years experience.

logan · Post by **logan** » Fri May 20, 2005 1:51 pm

Good question.

I'd like to know my self here in MI.

No matter best of luck with Independent!

yoyowordup · Post by **yoyowordup** » Fri May 20, 2005 2:13 pm

In Arizona, IIAA is best place. I know they're good across the country as well. PIA also has a program.

If they won't take you because you're new, check with your MGA's. AIG and Liberty Mutual owned co have programs available.

logan · Post by **logan** » Fri May 20, 2005 5:41 pm

yoyowordup, With the weekend here sure I wont be able to get prices so just wondering what do you think the prem. would be for new agent?

Thanks for the reply.

brownlee · Post by **brownlee** » Fri May 20, 2005 6:13 pm

Thanks to all who responded. I have contacted NAIFA to become a member and then I will be able to submit thru them for E&O.

logan · Post by **logan** » Fri May 20, 2005 6:17 pm

brownlee, what is the premuim? Thanks.

jtabosida · Post by **jtabosida** » Mon May 23, 2005 1:38 pm

I actuall specialize in E&O Insurance as a broker but unfortunately I cannot help you as I am not licensed in IL. I would suggest you go through a wholesaler if you can and carry a high deductible to keep your cost low. If you are like me you do not expect to have a claim and this is why I carry a deductible of $10,000. Worst case scenarion I can scrape it up if need be. Although E&O can get a bit pricey because your are in Illinois you should expect to pay a $1000 or less (depending on the line of insurance you will be handaling.) I hope this helps best of luck.

Check out US Risk, Lexington, navigators, or Axis Specialty.

MODERN · Post by **MODERN** » Tue May 24, 2005 9:00 am

Brownlee, Logan and everyone else looking for E & O. Modern Ins is a E & O and D & O broker specializing in Agent's E & O. We have two markets writing new agents and many markets for existing and hard to place agents. If you still need help obtaining coverage, visit our website at modernins.com and apply online or fax us any app that you've already filled out to 888-471-9449. If you have questions, I can be reached at 800-380-4642.

Thanks and good luck!

Mark

Grant · Post by **Grant** » Wed May 25, 2005 7:05 am

jtabosida,

Good post.

Thanks for the info.

brownlee · Post by **brownlee** » Wed May 25, 2005 2:20 pm

Thank you all. I haven't heard back from NAIFA but I will compare rates with the other carriers you recommended before I purchase thru NAIFA. I appreciate the info; finding E&O for newbies is like looking for a needle in a hay stack.

popodad · Post by **popodad** » Wed Jun 22, 2005 8:41 pm

</div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (MODERN @ May 24 2005, 10:00 AM)</td></tr><tr><td id='QUOTE'> Brownlee, Logan and everyone else looking for E & O. Modern Ins is a E & O and D & O broker specializing in Agent's E & O. We have two markets writing new agents and many markets for existing and hard to place agents. If you still need help obtaining coverage, visit our website at modernins.com and apply online or fax us any app that you've already filled out to 888-471-9449. If you have questions, I can be reached at 800-380-4642.

Thanks and good luck!

Mark [/quote]

Thanks to Mark and Eddy I now have E&O at a great rate.

Any of you still struggling to find E&O call MODERN at 800-380-4642.

Again, Thanks and keep up The Good Work.

Popodad

OldBlueChair · Post by **OldBlueChair** » Fri Jun 24, 2005 11:11 am

So what was the rate (ballpark) and for what coverage limits? Curious....

fnaprime · Post by **fnaprime** » Thu Jul 14, 2005 11:46 am

How much did you pay being new in the P&C?

darnovak · Post by **darnovak** » Fri Jul 15, 2005 10:57 am

Brownlee was a "sock puppet" and MODERN was advertising. Notice you didn't receive an answer with specifics. If I ran this site I would require those wanting to "sell" something to anyone to ask them to contact them "off board" where advertising and solicitation belong.

popodad · Post by **popodad** » Sun Jul 17, 2005 2:00 pm

I have 1 Mil/1 Mil and it is costing me $3300 per year.

Good Luck!!!

E & O Insurance

What was your rate

It was an advertisement!

E&O Insurance