Prepared Legal Corp.
How best to protect your notary business from vexatious litigants and unscrupulous individuals looking to make a quick buck from our Notary bonds?
What many Notaries do not understand is that the bond only protects the public, not the notary. The bonding agency have to interest in denying claims against our bonds. Afterall, any claims paid out on the notary's behalf can and will be recuperated from the notary. I don’t know about anyone else but I certainly don’t have $25k to burn.
This is why Errors and Omissions Insurance (E&O) is SO important. E&O Insurance protects the notary against claims. That said... not all E&O policies are created equal. Read and understanding the arduous clauses written in legalese can be frustrating for anyone.
As a benefit of the LegalShield Small Business Plan members can submit insurance policies to an attorneys specializes in insurance law to review before signing! It also helps that LegalShield offers Trial Defense benefits.
It would be great if LSS counseled Notaries on how to limit liability where bonds and insurance policies may fall short.
Sacramento County LDA Reg. 2020-03, Exp 08/05/2021