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 OH - new 250,000 E&O Requirement !!!		  New Topic  Reply to Topic
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Shannon

California
360 Posts
Posted - 01/09/2007 :  09:38:45 AM  Show Profile  Visit Shannon's Homepage  Reply with Quote
Slight change of subject here....does anyone know where I can purchase E & O with coverage of $500K in California??? I have a particular lender that promises work if I can obtain it.....
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THEGENTLEMANCLOSER

7 Posts
Posted - 01/05/2007 :  06:52:44 AM  Show Profile  Visit THEGENTLEMANCLOSER's Homepage  Reply with Quote
you might want to check that again.... all subs will need a minimum of 50k no biggie....all title agents will need 250k which their agency will more than cover for them....

if you fdont believe me contact
brent walls doi....
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crtowles

California
553 Posts
Posted - 12/09/2006 :  01:02:51 AM  Show Profile  Reply with Quote
Do any of you Ohio notaries have any current information on this new law? www.ohioinsurance.gov code, 3901-7-2-D. Ohio's Anti-Predatory Lending Law (Senate Bill 185) a portion of which is in effect in Jan 2007, Subsection (D) to 3953.23 "requires that every title insurance agent and all subcontractors used by the agent to maintain errors and omissions coverage or negligence. The minimum coverage for subcontractors is $250,000."

Can you collectively fight this? Is anything in the works? Has anyone found a company that will write that much and at a resonable price? Do the bond and the E&O need to match, dollar for dollar?

Thanks guys in advance.

Carmen
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