Can you share what companies you have your E&O with? I'm looking for a new company, have been with General Star for many years,last year paid 550.00-
the new Broker is a * M xxxxlim, and the price has shot up 215.00 for renewal to 765.00- I think that's way too high for a one person office-

I think it all depends on what type of transactions and how many you are doing. Try CresDirect.

Contacted Cresdirect and found out that is the same muslim guy I spoke with- no way Jose..........did find somone who is considerably less however at schinnerer.com- melissa- ie: 265.00 less!

I'll take your $750 E&O from them. Pay $1,200 for 1 man office.

I don't know specific annual terms, but our office has a 1 million dollar policy with zero deductable. About 20 agents pay into it, at about $14/month. That works out to around $3360 per year (just under 300 per agent) I think my broker has called in 1 claim in 12 or 13 years.

I think the policy is arranged somehow through RE/MAX international.

Doin- My personal contribution to e and o in our office is 2200 a yr. There are approx 50 agents in the office. There is a HUGE deductible to boot.

I remember when it went from 12 a month to 14 a month. People complained. It looks like we are getting an awesome deal. I think he is grandfathered in though. I bet he could not get that coverage starting out.

The disparity b/w policies is enormous.

My broker runs two offices. One is a RE/MAX office and another is an independent office that he owns and runs separately. The latter is the one I "work" for.

He uses the same E&O company for both offices. They are Capital Professional Insurance Managers Inc and can be reached at 301-966-6500. It is a $1,000,000 policy. Since he provides the E&O, I have no idea as to the cost. Good luck!

My broker users Pearl Insurance.

http://www.pearlinsurancebrokers.com/

E&O is very different in each state and per firm. Coverage can very greatly from company to company - low cost isn't always what you are looking for - be sure all activities that you perform are covered. www.pearlinsurance.com

Anyone have any updates on E&O coverage companies? I called some of the companies listed here to try and get my premium down.

One company will not write it because a good portion of our business comes from bpo's. Another won't write a policy for any company involved in CFK's.

E&O can be provided by your broker if requested. As I stated many times before, my broker is on board with not getting involved with the bpo payments, documented in writing in FL.
Each broker has a different business model created by the broker. If your business plan and brokers business plan clash as to % paid or deducted from your work, I would suggest finding a broker you can come to terms with. It's not a simple, cut and dry situation especially if you work with a competing broker.

I could be wrong, but I doubt that E&O for notary will cover licensed real estate activities. Policy premiums are based on the specific industry and associated liability risk. Personally, I think many insurance products are a scam. For example, some posters on this forum have found that in some cases E&O and general liabilty policies have duplicate coverage, but of course the insurance reps don't tell you that.

Like I said, it as been accepted at all BPO co's in the past 5 years.

E&0 coverage for a notary will clearly not cover your real estate activities. Your broker will have E&O insurance for the practices of his brokerage which covers the services you provide as a bpo provider. Of course you do not have this because you have previously stated your broker is not aware of your bpo activity because you arrange payment directly to yourself despite the Florida regulations which cleary detail all payments must go through your broker.
Just because bpo companies apparently do not review your E&0 and determine it does not cover real estate activities this doesn mean you are covered or legit..amazing what you get away with...direct payment from bpo companies despite florida regulations prohibiting this practice E&O policies non applicable to real estate...man you are going to get busted!