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Last Post 07/20/2009 10:12 PM by  okclarryd
Gen Liability and E&O insurance
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suzukini
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Posts:44


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07/20/2009 9:09 AM

    Hi everyone!  I just have a question about insurance.  When you are an IA and go to work for companies like Eberl's, Renfroe, etc, do you have to have your own Gen Liab and E&O insurance or are you covered under their company?  I couldn't find a particular thread on here that answered this question.  Thanks for your help!
    0
    brighton
    Member
    Member
    Posts:139


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    07/20/2009 10:00 AM

    IMO, whoever you do work for, make sure you have your own GL & E&O. Even the best firms can make a mistake and something come up where you may not be covered right then. While this is not cheap, it is better to be safe than sorry. Just one more cost of being in the profession of an I/A.

    Rocke Baker
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    Ray Hall
    Senior Member
    Senior Member
    Posts:2443


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    07/20/2009 11:58 AM

    Ask the vendors.... what does the policy cover? as many people think it does not cover you for unfair claims practice and deceptive claims practice as the ones who think it does. I am in the first group.
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    suzukini
    Guest
    Guest
    Posts:44


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    07/20/2009 4:49 PM

    Thanks for your input.  I agree that I would rather be overinsured than under insured.
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    okclarryd
    Veteran Member
    Veteran Member
    Posts:954


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    07/20/2009 10:12 PM

    Put me in the second group.

    I have never had nor never needed E&O.

    It's simple.

    Don't screw up.   Or, get found out.

    Larry D Hardin
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