If you are an agent of insurance (auto, home or business) Did you make your own mistakes and omissions Ins.? If you are an insurance agent (selling car insurance, insurance companies or owners insurance) Did you make your own mistakes and omissions? Or is it provided by the company you working for?
(Your employer carry insurance for you? Or did you buy the insurance and maintain on your own?)
It will depend on the contractual agreement you have. Are you an independent contractor you will most likely need to buy your own E & O insurance. On the other hand if you are an employee of the company or agency they will normally sign up for one insured under their policy.
Do not assume that you have cover. This is an important point to clarify.
Yes, unless you work in the surplus lines or installation only carriers.
You do not get a standard, admitted carriers to appoint you, unless you carry E & O coverage. Companies do not provide this for all officers appointed - only for employees.
It depends entirely on the company. Some insurance will cover for you and for some, it will keep you on your own.
Posted on September 1, 2010.
