What is Going on at Foresters....Fast Issue?

[Mattschmidt]

It's only an issue IF the company with the B rating in your example goes insolvent. If the company is not insolvent then most E&O carriers cover agents.

Are you sure with that comment??? So if I make a mistake, or misrepresentation, my E and O Company won't cover me with any type of claim if the B rated company is still around?????

 

[tomoverton0123]

Are you sure with that comment??? So if I make a mistake, or misrepresentation, my E and O Company won't cover me with any type of claim if the B rated company is still around?????

With most E&O Carriers the answer is yes you will be covered. I can't say I've read the fine print of all the E&O carriers , but I have many of them. It's only an issue if the company is insolvent.

 

[Mattschmidt]

With most E&O Carriers the answer is yes you will be covered. I can't say I've read the fine print of all the E&O carriers , but I have many of them. It's only an issue if the company is insolvent.

Any list of the E and O carriers that are stated the way you are mentioning??? I'm not knit picking, but the language in mine, is really far off from the description you are providing.

You are a valued member of this forum, and I appreciate our quarterly conversations on the phone and email.

Thanks Tommy!

 

[tomoverton0123]

Any list of the E and O carriers that are stated the way you are mentioning??? I'm not knit picking, but the language in mine, is really far off from the description you are providing. You are a valued member of this forum, and I appreciate our quarterly conversations on the phone and email. Thanks Tommy!

Calsurance is one off the top of my head. I'll have to lookup the names again. They are one of the bigger players.

 

[thomasm]

I posted it, its not baloney, at least when I was submitting over 20 apps a month with them, maybe it has slowed down since I wrote an app with them, but lets not call it baloney, It never took more than 5 mins from the time I handed the phone to the applicant till they handed the phone back to me, I dont count the time I spend on the phone giving them my agent number and a little client info, the only time I count is how long the applicant is actually going through the inquisition (interview)

I've noticed forester's PHI asks the same questions on the app that I already asked while filling out the app. The PHI seems like total overkill!

 

[goillini52]

I've noticed forester's PHI asks the same questions on the app that I already asked while filling out the app. The PHI seems like total overkill!

I think they all do. They're just verifying the answers and they dig a little harder than we do. It's not unusual for the customer to remember a condition when asked a 2nd time...especially when going over the meds.

 

[Norwayguy]

I've noticed forester's PHI asks the same questions on the app that I already asked while filling out the app. The PHI seems like total overkill!

Personally you should be glad....After the client does the phone interview they can't claim they told you Yes to a question that you then marked as a No and that they should not be harmed by your misdeeds.

 

[TwiLight]

I've noticed forester's PHI asks the same questions on the app that I already asked while filling out the app. The PHI seems like total overkill!

remember, FE or SIWL policies are not fully underwritten (APS, ParaMed-Fluids) so the answers on the App mean something, especially in the 2 year contestable period.

To have a recording of the answers protects both you and the company if a death claim is denied due to false statements on the app.

This is true for all companies that require PHI/POS etc.

 

[VolAgent]

Any list of the E and O carriers that are stated the way you are mentioning??? I'm not knit picking, but the language in mine, is really far off from the description you are providing.

You are a valued member of this forum, and I appreciate our quarterly conversations on the phone and email.

Thanks Tommy!

I've used the forum sponsored E&O for several years, even before it started sponsoring the forum. A.M. Best ratings only come into play in case of insolvency.

I seem to recall the same clause in B/D sponsored E&O, but I no longer have the certificate to examine.

 

[gordon112]

I might pick up Foresters since RNA increased rates and decreased commissions. I am just not sure what niche that would have other then quick issue plus its still a Fraternal.