Posted by Above and Beyond Closings - Alice on 9/10/07 4:52pm
Msg #210207

Does anyone carry $500k in E & O??

Any thoughts on Provident & their E&O requirements. I'm constantly fighting with them that the TC writes the title insurance and we are blanketed under them and our E&O is seperate.

Reply by Ndwa on 9/10/07 5:41pm
Msg #210215

I don't, IMO...It depends on who the TC is and if you're acting as a SS or NSA. I've done many Provident loans through a TC where they confirmed that I'm cover.

Reply by Teresa/FL on 9/10/07 8:34pm
Msg #210237

It depends on the TC whether you are covered or not.

Many smaller TC's only cover their employees on their policies, so you as an independent contractor would not be covered. This is why these companies use a SS for Provident loans because the larger SSs carry E&O that covers anyone them employ, even in the capacity as an independent contractor.

I have chosen to carry $500,000 in E & O so this is not an issue for me.

Reply by Cheryl_NV on 9/12/07 10:03am
Msg #210505

Where did you get your E & O, everyone I have talked to says $100,000 is the most I can get.