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Inspecting Your E&O Insurance


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Inspecting Your E&O Insurance by David Brauner, Senior Broker, OREP

Here’s a riddle that more and more inspectors are solving easily: how do you obtain $1 million in errors and omissions insurance (E&O) from an “Aâ€

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That initial post sounds far too much like a formal paid commercial. On viewing it again, it is, it is, it is a paid commercial.

Perhaps we need an independant investigation / inspection to bring out all the facts. You won't get that from any insurance carrier. After all the insurance makes its money on selling policies. They can and do deneign responsibility of payments via legal loopholes in the policy's coverage.

The biggest fact is that there are those unethical people who intentionally look for deep pockets and insurance policies to file a bogus claim. Even if the claim is legit the insurance company can still not pay the claimant under certain conditions.

It is smart to know exactly what is and what is covered and how much coverage you actually get for your honestly hard earned cash.

With or without the expensive insurance unethical people still exist in every business. It is all a risk with a limited payback. Some states require E&O and others don't. I opt not to become a target of those who smile in your face and then stab you in the back.

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So far in my career it wouldn't matter if the deductable was $50,000...never had a claim. I just re-upped and was too busy to shop around, but I hope compare a few next year. I'll be looking for exactly that kind of deal; a higher deductable and a lower price.

Brian G.

Insurance Rich, & Cash Poor Because of It [:-indiffe

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