E & O Coverage

[servingbonds]

I have many years experience in surety but I am trying to get a quote for E & o to get appointed with Hartford and CBIC. Both companies require one million dollars in coverage. I received a quote for $4,000 for Rockford. This amount is outside of my budget for insurance. It is also a barrier to entry to these insurers. It isn't that I don't have the experience, it is just the money holding me back from really being able to fully help others get bonding. Can anyone recommend an insurer providing excellent coverage to new businesses for E & O?

[Surety Guy]

E & O has been consistantly increasing year after year. I would expect to pay $3,500 - $4,000. We don't write E & O so I don't know enough about it to tell you all that much other than ours increases every year even though we have never had a claim.

Good luck with it! Let me know if you find a great rate, I'd like to switch ours if you do.