E&O FAQs for Property and Casualty Insurance Agents & Agencies

No. P&C agents do not require their own E&O insurance.

No. Your coverage would also be suspended. As a result of this suspension:

• You are no longer authorized to carry on the business of insurance as defined in subsection 2-1(2) of the Act. Operating without being properly licensed is a violation of the Act and prosecution could result.
• Your licence may be investigated to ensure you did not carry on the business of insurance during the period your licence was suspended. The licence may not be reinstated until this investigation is completed.

Once your recommender meets the requirements to have their licence reinstated, your licence will be automatically reinstated (unless you are under investigation) and you will be notified via email.