Posted by Roy on 6/1/05 12:21pm
Msg #41484

E & 0 insurance

How much E & O should I buy, in order to do loan siging?

Reply by Philem_OH on 6/1/05 1:13pm
Msg #41523

Wow, that's a tough one. I carry $25K, and am thinking about upping it. Does you SoS have any recommendations? They may not "officially" answer, but may give you a ballpark. Also, check with other notaries in your direct area. When you see folks that carry upwards of $500,000 (!), they are often doing title insurance or some other aspect of real estate transaction, as well as their SA duties.

HTH! :-)
-Jim

Reply by Bobbi in CT on 6/1/05 1:52pm
Msg #41540

Two types of E&0 insurance

Make sure when you call and get quotes you find out what is covered.

1. E&O insurance for your acts a as public official, Notary Public, ONLY covers those actions in connection with the notarization bloc.

2. E&O coverage for your duties as a loan signing agent, depending on the state that you operate in, would be a different policy; i.e., NOT covered by Notary Public E&O policies.