Does anyone the best O&E insurance company to use? I am a new member in the business.
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You can get E&O Ins through NNA
(800) 876-6827
https://www.nationalnotary.org/nevada/become-a-notary.
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Careful, many complaints that insurance thru NNA does not cover NSAs IN SOME INSTANCES!!!
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I get mine through NNA… Merchants Bonding Co. is the most common one.
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Keep in mind - and I can’t stress this enough…standard E&O ONLY covers you for notarial errors - dan_nsa is correct - it does not cover you for anything you do as a signing agent. If you want coverage for loan closings you’ll need to look to professional liability insurance or Signing Agent E&O Insurance.
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I read that, unfortunately I paid for one year after the fact… 
E & O is Errors & Omissions Insurance. It protects professionals against claims of inadequate work or negligent actions. Errors and omissions insurance often covers both court costs and any settlements up to the amount specified by the insurance contract.
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If included as part of a professional liability party, this is correct; but the standard E&O that most notaries buy (and most notary sites sell) covers claims arising from notarial errors only - not inadequate work in general but only if it’s tied to an error in the notarial act (lack of proper ID, improper cert, violation of notarial laws, etc). I know I am being redundant but it’s important that notaries (especially new people) realize the limitation of coverage for the standard notary E&O policy.
JMO
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To be honest Linda!?.. never heard of this exact definition, and difference between one and the other. Is clearer the way you explained. Thanks!
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Yes, you are absolutely right.
Hiscox got a great premium
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@LindaH-FL is absolutely correct. What you get from NNA only cover you up to $10,000 and covered you as a public notary not as a signing agent.
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You can buy more, but I think $10k is what is included in their certification/notary packages; You can buy as much as you want…but with its limited coverage, the question is why would you? I used to carry $100k when I did loan signings - when I stopped I dropped it to $25k - I think this year is the first year in 14 years here that I have had no E&O - I’m not doing any notary work so saw no need to renew.
Please do not let my personal situation and decision influence any of you - you all do what you think is best for you
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Thank you all for this informative hints.
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A better question would be has anyone ever used their E&O Insurance to cover a claim are know of any Signing Agent that have used their E&O provider to cover a Claim against them?
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Short answer without giving out details - yes - and not me.
I also heard there was a surge in claims at some point in the last couple years of companies filing claims against the notary E&O for errors made in signings - an attempt to recoup some of the fees they paid out. Not sure whatever happened to that little trick.
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This subject has come up on other sites as well. After some research and reading other posts, I found biBerk to be the best.
I had E&O insurance through Hiscox and thought I was covered. After calling them I was told I was NOT covered for ALL notary acts. NNA E&O insurance is the same. You need to be covered for all notary acts.
BiBeck does that and the cost was the same as Hiscox’s. I have ONE MILLION dollars coverage for about $35 a month.
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Louis, I had Hiscox for two years and it doesn’t cover you for ALL notarial acts.
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WOW! It’s sad that companies are so greedy.
So basically what you have is more a professional liability policy with E&O coverage but also coverage that extends to errors in a loan package? Is that correct?