Posted by Mitch/MD on 8/6/05 8:13pm
Msg #57421

Enhanced E&O Coverage to Notaries?

I just saw this business wire article entitled "St. Paul Travelers Offers Enhanced Errors and Omissions Coverage to Real Estate Professionals":
http://tinyurl.com/8r7nh

Any comments to offer?

Reply by BLT/CA on 8/6/05 8:31pm
Msg #57424

Good news for most folks. I see that coverage if offered in every state except mine. I always had a feeling that California was the "litigation capital” and they probably don't want to take the chance OR we Californians are being protected by our insurance commissioner. Too bad for California notary Publics!

Reply by PAW_Fl on 8/6/05 8:37pm
Msg #57425

The do specify the following:

"In addition, St. Paul Travelers offers 1st Choice(SM) for Real Estate Professionals Services Liability Protection policy. This is similar to the real estate agents and brokers policy in terms of coverage features but is offered to a wider range of real estate professionals. They include abstracters, auctioneers, real estate appraisers, title agents, title searchers, closing agents or escrow agents, title-opinion lawyers, witness closers and notary publics."

Ignoring the "notary publics" error, this may be something to look into. Anybody ask about rates and/or a prospectus?

Note for CA notaries: " Both products are admitted and available in all states except California."

Reply by Joan-OH on 8/6/05 9:39pm
Msg #57428

VERY expensive, high deductible. Rates increase every year because exposure increases with the amount of signings you do.

Reply by Anon on 8/6/05 10:44pm
Msg #57430

If you are a real estate salesperson, look into it.

Reply by Liz/MD on 8/6/05 10:49pm
Msg #57432

Am I missing something...with our (MD) requirements of a Maryland Title Producers License with a 100,000 fidelity bond. I also have 25,000 E/I.

Reply by Liz/MD on 8/6/05 10:51pm
Msg #57433

Or E/O....E/I are elbows and igloos. Good insurance to have....call me.

Reply by Marie/MD on 8/7/05 7:45pm
Msg #57501

Surety Bond does not protect you only the state, E & O protects you!!! The more the better

Reply by newlysmomva on 8/8/05 8:12am
Msg #57532

TitlePac brokers E & O for title people. I wonder if they do it for notaries too?