Posted by Jcobb on 10/5/11 3:03pm
Msg #399697

E & O

A number of notaries carry $25K E&O. Some carry $100K. Are you finding specific Title Co's or signings companies requiring $100? if so which co's/title's.

Reply by John/CT on 10/5/11 4:04pm
Msg #399703

Re: Notary Public E & O

I carry only $10K, and that's never been a problem for the services that engage me. In addition, I don't ever recall being turned away because I didn't have more coverage. At the end of the day, I'm doing just fine. I do wish, however, I could get NSA E&O, but NR doesn't offer it for Connecticut.

Reply by MW/VA on 10/5/11 4:07pm
Msg #399704

Once again, I think it was XYZ's marketing that created the $100K requirement, along with the cert/bgc thingy. Anyway, my viewpoint is that I'm insuring myself & my assets in case of a lawsuit. I haven't heard of anyone who's actually ever had a Notary E&O Insurance Claim, but it only takes once. I changed to Signing Agent E&O last year & carry $75K through NotaryRotary.

Reply by LKT/CA on 10/5/11 7:57pm
Msg #399720

$100K E & O used to be cheap - $170 for four years which is what I paid when I started in 2007. When the SOS added the "penalty of perjury" sentence to the acknowledgment, the insurance skyrocketed to about $468 for four years of E & O. So many don't have $100K because of the price and with the loan signing market as it is <there's rarely any loan signing jobs>, many no longer need it.

Reply by SheilaSJCA on 10/5/11 11:36pm
Msg #399736

Fidelity Companies require 100K n/m