Reply by Susan Fischer on 5/9/07 8:58pm
Msg #189605
Just my opinion, but if he was new, not many signings, and was not a negligent kind of person, I would think that suing a deceased person would be a waste of time, since he is now 'judgement proof.' I'm not a lawyer, but my common sense tells me a deceased person has no assets. I guess someone could make a claim against his estate, but that seems pretty unlikely if his estate isn't substantial. Also, if his estate is in probate, there is usually a statutory period of time for claims against the estate to be made, and once probate is closed, it would be pretty hard to sue/recover after the fact.
Again, only my humble opinion, and certainly not any kind of legal advice.
Also, you might want to be prepared for a "short rate" refund - calculated by some formula - rather than a "pro rated" refund - calculated by another formula - which will lessen your refund, but still be better than no refund. I don't know of too many insurance companies with a heart.
You have my sympathies, Martha,
Susie
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Reply by Dennis D Broadbooks on 5/10/07 2:25pm
Msg #189719
My Suggestion...
...would be to contact the companies who issued the deceased Notary's bond & E&O insurance for their answer. I just did a perfunctory search on the Internet & reviewed my own notary bond & E&O policy. According to my policy language it appears a Notary E&O Insurance policy can be canceled mid-term & you can receive a pro-rata portion of the premium in return. Let's say it's a 4 year policy with a premium of $100 & you cancel after 2 years. Pro-rata means you'll receive a refund of $50. This may not be applicable to ALL Notary E&O Insurance policies however. On the other hand my notary bond certificate doesn't specifically address cancellations mid-term. Several web sites I searched indicated bonds can be fully earned upon issuance, meaning there's NO refund at all. That's why I'd suggest you call the insurance companies involved to see how they handle this type situation. Make sure you reference the fact there's a death that's the proximate cause for the cancellation. It might make a difference, but then it might not.
As always do NOT take my comments or suggestions as legal or insurance advice. Do your own research or seek advice from an insurance professional in your state to ensure you're receiving the proper counseling in this situation.
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