Posted by OH MY on 12/3/04 3:59pm
Msg #12670
E&O for abstractors..thought I would ask here.
I know this is for notaries and signing agents, but I thought this would be a good place to get good answers.
I need help finding an insurance company who will insure a beginner in the field of abstracting and title search. The problem I have is I would like to work along side an aquaintance learning title searching. But, she wants me to acquire E&O insurance before working with her. I have talked to a couple of Insurance companies, but they want experience. Any suggestions?
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Reply by Loretta Reed on 12/3/04 6:16pm
Msg #12682
I worked with a title company for 2 years before I went out on my own and I still had a difficult time finding someone to give me e&o. One rep suggested that I lie and say that I had 5 years experience but who could I use as a reference for this length of time? www.sourceoftitle.com is a great place to get answers. TIAC or TitlePac in Oklahoma is a good place to start. I do not have their number, I use a local insurance company now.
I still pay around $2,400 for a $500,000/$1m policy and I have been at it for 8 years and that is cheap because I am self employed and do not have alot of employees except for my husband, who is only part time.
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