M. BURR KEIM AGENCY
SIGNING AGENT ERRORS AND OMISSIONS INSURANCE

 

Signing Agent Errors and Omissions Insurance covers, among other things:
  • Properly identifying the borrowers
  • Obtaining all other signatures and initials
  • Notarizing the documents
  • Correctly dating the documents
  • Completing the closing in the time frame specified
  • Returning the documents promptly.

Signing Agent E&O Insurance will not cover:

  • Rendering advice or opinion on a potential loan (unauthorized practice of law)
  • Notarizing without the physical presence of the signer. This is a difference between Notary Public E&O and Signing Agent E&O.
  • Non-real estate transactions. A notary also doing general notary work should continue to carry traditional Notary E&O insurance. A claim regarding the notarization of real estate documents could, potentially, be covered by both policies.

Type of coverage:

  • Claims-made
  • No retroactive coverage
  • Defense within Limits

Underwriting emphasis:

  • Primarily, experience as a signing agent
  • Training as a signing agent, if limited experience handling signings
  • Association membership (for continuing education, answering questions, etc.)
  • Maintaining a notary journal

Limits, Deductibles, and Rates:

Per Claim/Aggregate
$500 deductible
$1,000 deductible
$75K/$150K
$275
$220
$125K/$250K
$458
$366
  • Rates are annual.
  • Tail coverage will be offered at 50% of the annual premium times the number of years desired. Will offer 1-3 years unless a particular state requires more.

Approved States, so far:

Alabama Indiana Montana South Dakota
Alaska Iowa Nebraska Tennessee
Arizona Kansas Nevada Texas
Colorado Kentucky North Dakota Utah
Delaware Maine Oklahoma Washington DC
Georgia Maryland Ohio West Virginia
Hawaii Michigan Oregon Wisconsin
Idaho Mississippi Pennsylvania  
Illinois Missouri South Carolina  

CLICK HERE FOR SIGNING AGENT APPLICATION

 

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