Notaries Need Errors & Omissions Insurance
Any person who owns a business where a professional service is provided can be held liable for errors and omissions. To protect your assets you need errors & omissions insurance.
One person that should make sure that they have errors and omissions insurance is a notary public. This insurance will cover you if you make a mistake in your professional work.
Notaries are often validating signatures for multi-million dollar sales. In a world where the lawsuit is the answer to everyone's problem, a notary does not need to be held liable for services that were provided in good faith, where an honest mistake was made.
Anyone can file a lawsuit against you for any reason. The legal fees can become overwhelming. In one case a notary was sued for notarizing a document for identity thieves. The ID thieves had state issued drivers licenses with their pictures. The bank and homeowner sued the notary for errors and omissions. This insurance will cover legal charges as well as the specified amount of any losses.
Many notaries are under the mistaken impression that their employers insurance or their bond will cover them when an error or omission is made. The notary commission belongs to a person and not to the company. Therefore, you can be sued as a person and on a personal level for any mistake real or perceived, made in the performance of your duty. Some notaries have had to file personal bankruptcy due to a lawsuit.
Errors and omissions insurance will provide for necessary legal representation in any such lawsuit. In addition, they will pay the specified liability of the insurance policy.
Errors can be easily made, with no intent to defraud anyone. Even diligent notaries can be fooled by forged identities or by state issued identification cards that have been obtained under false pretenses. Do not let someone else's dishonesty ruin your personal life. - 23211
One person that should make sure that they have errors and omissions insurance is a notary public. This insurance will cover you if you make a mistake in your professional work.
Notaries are often validating signatures for multi-million dollar sales. In a world where the lawsuit is the answer to everyone's problem, a notary does not need to be held liable for services that were provided in good faith, where an honest mistake was made.
Anyone can file a lawsuit against you for any reason. The legal fees can become overwhelming. In one case a notary was sued for notarizing a document for identity thieves. The ID thieves had state issued drivers licenses with their pictures. The bank and homeowner sued the notary for errors and omissions. This insurance will cover legal charges as well as the specified amount of any losses.
Many notaries are under the mistaken impression that their employers insurance or their bond will cover them when an error or omission is made. The notary commission belongs to a person and not to the company. Therefore, you can be sued as a person and on a personal level for any mistake real or perceived, made in the performance of your duty. Some notaries have had to file personal bankruptcy due to a lawsuit.
Errors and omissions insurance will provide for necessary legal representation in any such lawsuit. In addition, they will pay the specified liability of the insurance policy.
Errors can be easily made, with no intent to defraud anyone. Even diligent notaries can be fooled by forged identities or by state issued identification cards that have been obtained under false pretenses. Do not let someone else's dishonesty ruin your personal life. - 23211
About the Author:
As an entrepreneur, you need to get a small business insurance quote. If you are a professional, consider errors and omissions insurance to protect yourself against mistakes.