Reply by Les_CO on 4/19/12 6:51pm
Msg #418366
Some SS have a million dollar liability umbrella policy that extends to their notaries. (My favorites do) Some lenders (Provident) require limits that are difficult (and expensive) to get. So you may be correct, or LSI couldn’t find someone fast so they gave it to a SS. REMEMBER the SS gave it to you…so do a good job, and make both you and the SS look professional.
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Reply by BobbiCT on 4/20/12 7:33am
Msg #418384
Sadly even funnier is that these co's. have been
"convinced that $100K E&O is a minimum requirement.."
First convince lenders, title companies, signing companies, newbie-notaries and the like that notaries "must have" at least $100K E&O. Then convince them that you are the BEST, secure, safest company to offer that insurance through your subsidiary insurance company. After all, the companies can check the "certified" database to verify the notary is carrying the $100k policy and that it is still in effect, BUT ONLY if the notary purchased the policy from the company's subsidiary selling the policy.
The constant marketing, doom-gloom you're going to get sued weekly news spam, is done by the company that SELLS and MAKES A COMMISSION from each one of these $100k policies sold ... then has another e-mail to direct market target all its other products to.
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