Errors and Omissions Insurance can be purchased as an option along with the Notary Bond. The Errors and Omissions Insurance provides coverage for damages and legal costs relating to a lawsuit filed against the actions taken as a notary. As a notary you may be vulnerable to a lawsuit because of the important legal documents you are acknowledging. A claim may arise involving notary acknowledgements of signatures which are forged, incomplete or otherwise defective in real estate transactions, motor vehicle transfers, and cases where the validity or date of a document is an issue. Even if the suit is not valid, you could still be faced with a legal bill for defending yourself. If you do not have Errors and Omissions insurance, you may pay those defense costs out of your own pocket – win or lose.
Errors and Omissions Insurance is available for purchase to individual notaries and to employers.
- The Individual Errors and Omissions Insurance Policy only covers the named notary. No coverage is provided for the notary’s employer. The policy is issued to cover the four year term of the notary commission.
- The Employer’s Group Errors and Omissions Insurance Policy covers all employees of an employer who hold a notary commission. The employee is the “Insured” and the employer is an “Additional Insured” under the policy. The employee is covered for notarial services provided as an individual and on behalf of the employer.
- The Employer Group Errors and Omissions Insurance one year policy premium is determined by the number of notaries employed by the employer at the time the policy is purchased. New employees, who are notaries, are automatically covered by the policy. Terminated employees who are notaries are no longer covered under the policy effective the date employment terminates.
- For Employer Group Errors and Omissions Insurance the following information is required.
- Business Name
- Federal Tax Identification Number
- Authorized Company Officer’s name, title and signature
To purchase the Errors and Omissions Insurance protection you need, complete the required information on the Price List in the section titled Notary Public Errors & Omissions Insurance. For an Individual insurance policy place an X next to the desired policy coverage amount. For a Group insurance policy put the number of notaries on the line next to the desired policy coverage amount. Remember that with Group insurance the one year premium is determined by multiplying the number of notaries by the dollar amount shown.
Price List
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