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Resources > Glossary > Errors and Omissions Insurance

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Errors and Omissions Insurance

Function: noun

Many notaries carry E&O insurance to protect themselves from law suits. So far, we have no heard of any court cases, but notaries purchase large amounts of Errors and Omissions insurance to make themselves look professional, and be more acceptable to the larger Title companies who often prefer or even require a particular level of E&O insurance. Some companies require $100,000 while others require half a million in coverage. Very few notaries go to the extreme of having $500,000, but a handful of very serious and dedicated notaries do. Please contact the NNA or other notary supply companies to ask about getting some E&O insurance.

E&O Insurance can cover a notary for mistakes done during a notarization. Unfortuneatly it doesn't cover mistakes on non-notarized loan documents or on loan signing work other than actual docuements being notarized. It also doesn't cover fraud or misconduct. Its for honest mistakes only.

Please keep in mind that many states require a notary to get a surety bond and file it with the county clerk. The bond is to protect the public from a notary who engages in fraud or serious misconduct.

Thesaurus / Related Terms
Errors and Omissions Document
Journal of Notarial Acts