- 8,707
Its how I feel and I know at most it will cost me a little time to send out new certificates of E&O Coverage. Here is the story, I currently have E&O coverage through a well known provider with a discount based on my appointment with a certain carrier. I knew in advance that if my appointment terminated the coverage would end as well. Well said carrier has decided to terminate my appointment (not a big deal I have had a love hate relationship with them for the last 3 years). I informed the E&O provider about the pending termination and wanted to know my options they sent me the form to cancel my existing policy as I was no longer eligible for it and I have until the end of October to decide on a new policy.
I know I can take a new policy with them and I was leaning towards doing just that until in a snippy voice the woman essentially threatened me that if I did not take a new policy with them they would inform every carrier I showed an appointment with on Maine's DOI website that my E&O policy has been cancelled which would then get the ball rolling of the carriers requiring me to send the new certificate (once again no big deal I would have to do it in 2 months anyways as the current policy renews in January anyways.) I just personally didn't like the snippy attitude I already noticed a difference between the existing policy I had and the new one I would need to take that required me to add coverage for items previously covered. I knew the premium would go up for losing the discount but its now a loss of the discount and the requirement to add coverages previously provided on the old policy so its an even larger increase. I am taking my time and looking at all my options I have a couple of other carriers that offer a discount on E&O but am wondering if I ever wan't to go through this again if I decide to not do business with that carrier in the future.
I know I'm looking at NAPA and Calsurance how else offers a decent policy for Life & Health fixed and fixed indexed annuites, DI, Med Sup and MA coverage must be covered (I know I don't focus on the MA market and many have seen my posts about it I just want to be covered for everything my license allows me to sell in case things change.)
I know I can take a new policy with them and I was leaning towards doing just that until in a snippy voice the woman essentially threatened me that if I did not take a new policy with them they would inform every carrier I showed an appointment with on Maine's DOI website that my E&O policy has been cancelled which would then get the ball rolling of the carriers requiring me to send the new certificate (once again no big deal I would have to do it in 2 months anyways as the current policy renews in January anyways.) I just personally didn't like the snippy attitude I already noticed a difference between the existing policy I had and the new one I would need to take that required me to add coverage for items previously covered. I knew the premium would go up for losing the discount but its now a loss of the discount and the requirement to add coverages previously provided on the old policy so its an even larger increase. I am taking my time and looking at all my options I have a couple of other carriers that offer a discount on E&O but am wondering if I ever wan't to go through this again if I decide to not do business with that carrier in the future.
I know I'm looking at NAPA and Calsurance how else offers a decent policy for Life & Health fixed and fixed indexed annuites, DI, Med Sup and MA coverage must be covered (I know I don't focus on the MA market and many have seen my posts about it I just want to be covered for everything my license allows me to sell in case things change.)