Posted by Belinda/CA on 11/15/13 4:15pm
Msg #492950

NNA and E&O coverage -

Did you know, if you are a member of the NNA and carry an E&O policy other than theirs, it shows you have no coverage at all?
Interesting since you PAY to be on their site and represented on their site and they blatantly misrepresent you because you won't purchase their coverage.

Reply by JPH13/MO on 11/15/13 5:00pm
Msg #492956

Yes, old but still annoying news n/m

Reply by desktopfull on 11/15/13 5:34pm
Msg #492961

Way around the BS

In the "additional information" box and list your carrier and amount. Those browsing your page on signingagent.com will see the info.

Reply by Darlin_AL on 11/15/13 5:39pm
Msg #492966

Re: Way around the BS

that's what I had to do. I was shocked, as this is my 1st (and perhaps last) year w/them. It's totally SLEAZY demonstration of sleaziness. Have I gotten a job from their site--not that I can tell. It's one of the perks of membership!...getting sleazed. They need to remove that part of the page and not foster misleading information on the member's "information".

Reply by Lee/AR on 11/15/13 6:39pm
Msg #492976

They are such weasels.

Sorta makes you doubt the intelligence of all those lenders that 'asked for their help' with SPW, eh?

Reply by MikeC/TX on 11/15/13 7:21pm
Msg #492983

Re: They are such weasels.

Not to mention that, despite their focus on signing agents, the E&O they offer does not cover signings - it's standard notary public E&O that only covers general notary work. If you screw up a signing badly enough to get sued, the E&O is not going to help you.

Reply by Malbrough_LA on 11/15/13 7:24pm
Msg #492986

Re: They are such weasels.

"If you screw up a signing badly enough to get sued, the E&O is not going to help you."

Until you tell them that you're no longer an IC but rather to be classified as an employee under their guidelines and acting under their regs and authority so you can't be individually liable... Yeah, I poked a bear. Tongue in cheek...but I poked the other side of those ugly legal ramifications....

Reply by MikeC/TX on 11/15/13 8:00pm
Msg #492994

Re: They are such weasels.

"Until you tell them that you're no longer an IC but rather to be classified as an employee under their guidelines and acting under their regs and authority so you can't be individually liable... "

Good point, Ryan, and apparently not a scenario that came up while they were crafting this SPW debacle. I recall reading that they were careful to avoid violating antitrust laws (well... maybe), but they seem to have forgotten about the IRS - which is the modern day equivalent of the Spanish Inquisition...

Reply by Marian_in_CA on 11/16/13 12:00am
Msg #493013

No Notary E&O Insurance covers that...

It has nothing to do with the NNA here, no Notary E&O Insurance policy is going to cover much. They are very strcit in their scope. In some states, notaries can purchase Signing Agetn E&O.... but not all states.

What notaries need is GENERAL BUSINESS LIABILITY insurance. E&O plans can be a part of that, but relying solely on E&O is seriously risky, and IMO kind of...unenlightened.

Reply by MikeC/TX on 11/16/13 6:35pm
Msg #493063

Re: No Notary E&O Insurance covers that...

"t has nothing to do with the NNA here, no Notary E&O Insurance policy is going to cover much. They are very strcit in their scope. In some states, notaries can purchase Signing Agetn E&O.... but not all states."

I know that - the point is that the SPW standards require at least $25,000 in E&O. If this group is dedicated to improving the signing specialist, why are they insisting on a type of insurance that won't cover liability for signings? Why not insist that they carry general liability insurance instead? The cynic in me says it's because they only sell the E&O insurance...