E & O Insurance for insurance agents may seem like a funny concept, but actually it only tends to make sense. Insurance agents are experts just like real estate agents or investment brokers. The only difference would be that the policies in question are often sold by the professionals in question. But E&O insurance for insurance brokers is also over looked. If you are an insurance agent and you have not secured the correct insurance policy, you then really should be ashamed of yourself.
Almost Any Risk
Being an insurance professional, you are accustomed to telling your customers that they need to safeguard themselves in opposition to any and all risk. Whenever you need to do business along with a client, you tell them, there is actually the potential for a brand new claim or court case. If you make products, each and every creation that is shipped out of your warehouse has got the possibility to start a squence of events that only finishes with you in the courtroom and dealing with lots of money or even more in the court costs and fines. Don't live that way. As an alternative, take your personal advice and secure an E&O insurance for insurance brokers plan and begin protecting yourself from financial ruin.
Just What Could Happen?
If you have a client who is the owner of a small business and you inform that customer that he doesn't need insurance against tornados since tornados have not happened in that area in over a hundred years, only to discover that the client's house had been involved in a super-tornado the likes the region has never observed before, you could find yourself in the losing end of a very costly claim. Your guidance and your professional services will likely be under just as much scrutiny in the situation of mistake as a realtor or investment broker could be.
The problem comes in when insurance brokers think that they are too proud to secure the proper insurance from yet another business. The fact is, however, you cannot offer your customers your insurance policies and then secure your personal company under those policies. This is a conflict of interest and you could find your organization in lots of trouble.
As an alternative, go with an E&O insurance for insurance brokers plan and adequately protect yourself against any and all risk that may cross your path. Keep in mind, hair stylists have to go to another stylist to get their hair done. Even the most effective stylist on the planet doesn't stand in the mirror in order to do their own hair. They acquire yet another professional to do it, somebody they trust.
That's specifically how you should go about acquiring the appropriate E&O insurance for insurance agents. Find a company you have confidence in and one which has a great track record and lastly secure the proper insurance policies so that you can basically practice what you preach.
If you are going to advise your customers to safeguard themselves against something that will come their way, you are setting a very bad example by letting your organization go unprotected. Exactly why would you place everything you've worked hard for in danger? The time period has come for you to perform as you instruct your customers to do and that's to get the appropriate Liability Insurance for insurance agents just before something occurs that you cannot monetarily live through.
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