E & O Insurance Renewal Time
Posted by Chris Peterson on Monday, August 31, 2015 at 2:02 PM
It's time to renew. Don't forget your E & O Insurance.
The time is now for many licensees to renew E&O insurance. Completed renewals of the Commission’s group E&O policy with Rice Insurance Services Co. are due no later than 11:59:59 p.m. MT on September 30, 2015. A renewal completed after that time, even a few minutes, will result in disciplinary action. If you renew online, coverage is instantaneous, but there is a $5 convenience fee for that instant coverage. If you choose to mail a check instead, it must be received by Rice in plenty of time for them to process the renewal by September 30th. Please read your renewal paperwork carefully to make sure of your deadlines and the information required to renew.
As a reminder, the Commission’s group policy is with Rice. We are aware that other companies may have solicited your insurance business. It is perfectly acceptable to obtain your E&O insurance from another company, as long as the company attests it meets the Commission’s requirements. However, if you do not buy your insurance from Rice, the insurance carrier is required to complete and sign the Commission’s REE-141 form, and it is your responsibility to submit the form to the Commission.