I am currently looking for professional liability insurance that covers RON acts from an admitted company. Has anyone ran into the problem of your RON acts not being covered?
Do you have standard E&O insurance? If so, check with your carrier.
I’ve heard good things here about Biberk…search them here for info
I have yet to hear of any E&O insurance that excludes RON, so shop around. A “Notarial Act” is a “Notarial Act,” regardless of where/how you conduct it. Hope this helps!
I buy my E&O through NNA, insurance co is Merchants Bonding Company. I buy once, good for 4 years at a time. They will only cover RON if YOU and YOUR State are approved/authorized to do RON obviously.
Beware here … read the fine print and make sure…from the article, this coverage is limited to “emergency RON only”…
" The NNA reached out to Merchants Bonding Company for guidance. Here’s what you need to know.
A remote notarial act performed in a state that issued an emergency measure is a valid notarial act and generally should be covered unde"r an applicable bond or E&O policy as long as the notarization conforms to the emergency measure and was performed while the emergency measure was in effect, according to Gina Lockwood, Senior Claims Attorney with Merchants Bonding Company."
P.S. Want to add here, for FL - traditional notaries are not required by the state to carry E&O; however RON notaries in Florida MUST carry minimum $25k in coverage. I know some NSAs have stated they have $10k and that’s good enough…but in FL, not for RON. (Just a PSA for the day )
Exactly what I said here…
“They will only cover RON if YOU and YOUR State are approved/authorized to do RON obviously.”
Some states are not RON approved yet or never going to get into RON ever but during the Covid shut down some put together emergency measures to let people sign remotely without human contact temporarily! Not permanent. So if a notary did RON closing after that emergency measures expired, e&o will not cover. They only cover if RON signing is done within the time frame allowed by your state emergency measures policy.
Okay… well that is not what you said but maybe I misunderstood…you posted a 2+ year old article from NNA about emergency RON E&O. That’s what I was addressing…be careful that standard E&O “may” not cover RON
As to vvs and why it wouldn’t be? Different procedures and technologies invo!ved along with platforms and identification and security measures.
Important to remember: In this business, all that we do fall under each state laws.
I cant see a “rational” reason why an insurance Co wouldn’t cover RON notarizations if your state SOS approves it. The SOS approval not only makes it legal, but reduces the risk for insurance Cos collaterally based on such, especially if you use the platforms/technology approved by your SOS. Then again, what’s rational about ANY insurance policy?
Who say E&O doesn’t cover RON? To simply put yes they will cover RON, obviously only if you, your state, providers you selected approved by your state.
Don’t get confused with the “emergency measures” policy that some state temporarily put in place during the Covid shut down when nobody can’t leave the house or have human contact. It was something some states did and shut it down later and some made RON permanent. Again it depends on the state.
E&O wouldn’t cover RON if notary did it outside of the approved/authorized time frame. Why would they cover something that is outside of your scope of practice.
@vvs.notary.services that’s why I said “may” not cover it. and I said “read the fine print”. Since we’re outside the “emergency” period, just have to be careful. Never assume. That’s all