Posted by dutchcloser on 3/2/12 1:32pm
Msg #413748

Loss Payee on E&O Policy

I was requested by a signing service that they be listed as the Loss Payee on my E&O policy is this something new or has anyone ever provided this to a signing service before?

Reply by Linda_H/FL on 3/2/12 1:37pm
Msg #413749

I was told it could not be done...I have my E&O

through NotRot...

I guess some policies are able to add this info - I was told no...

Research the company first too - you may or may not want to go through all grief - they've been discussed here.

Reply by dutchcloser on 3/2/12 2:00pm
Msg #413753

Re: I was told it could not be done...I have my E&O

Thanks Linda, I didn't think that could be done. I have worked with them in the past and they pay well and within 15 days so I'm not sure why they are now having a laundry list of "notary complaince" items. They want your DL and SS# which I don't give out and proof of a shredder,etc. Why Why Why???

Reply by Marian_in_CA on 3/2/12 5:42pm
Msg #413771

Proof of a shredder???

Seriously?

Some of these companies clearly do not understand what "independent contractor" means.

Reply by Buddy Young on 3/2/12 9:07pm
Msg #413788

Re: Proof of a shredder???

shred their letter and send it back to them. That should be proof enough.

Reply by Scriba/NM on 3/2/12 10:18pm
Msg #413791

That's hysterical! I love it. n/m

Reply by Linda_H/FL on 3/3/12 9:10am
Msg #413807

Good one Buddy...:) n/m

Reply by C. Rivera Chicago Notary Services on 3/2/12 1:50pm
Msg #413751

that's not necessary...its not the same as car insurance! n/m

Reply by jojo_MN on 3/2/12 2:21pm
Msg #413757

I don't understand the reasoning on this. We do business for 50+ companies. That just doesn't seem to make sense. JMHO

Reply by ikando on 3/2/12 2:47pm
Msg #413759

Why would a Signing Service need to be a loss payee? What have they got invested in our work? It would make more sense to me that they include us in their business insurance policies.

Reply by MW/VA on 3/2/12 3:26pm
Msg #413761

What idiots! Do some of these co's. have any idea

what they're doing??? LOL

Reply by A S Johnson on 3/2/12 3:29pm
Msg #413762

As I understand it, E & O Insurance protects only Notary, not the other docs.
Driver's license-No, No.
I will privide a W-9 either with my ss or my EIN #.
With all this information they want, can they be provided us with thier liability insurane policy that covers ID thift of the information of ours they have?
A suggestion to Harry, because E & O Insurance has been discussed here many times with numberous thoughts, would post what the E & O Insurance thur NoRot provides protection for, if a third party should have your policy information and if a third party can file a claim on it?

Reply by Les_CO on 3/2/12 5:23pm
Msg #413769

I say let them buy their own insurance. I have mine, I pay the premium, and it protects ME! If they want protection they can buy and pay for it. JMO

Reply by dickb/wi on 3/2/12 5:43pm
Msg #413772

tell them to take a deep breath and jump in the lake... n/m

Reply by dutchcloser on 3/2/12 7:59pm
Msg #413778

Re: tell them to take a deep breath and jump in the lake...

I agree with all of you. It seems like their is no end to ridiculous request! Thanks for all the responses.