E and O Insurance for contract CRA

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CRA in Jenkintown, Pennsylvania

77 months ago

I will be starting a contract CRA position that requires Errors and Omissions insurance. I have shopped around and the best rate is an annual premium of $3800. Does that seem high? It sure does to me. This is my first contract position, but I have been a CRA for over 5 years. Does anyone no of a good insurance broker/company in Pennsylvania that has reasonable rates?

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Richard in Arlington, Virginia

75 months ago

The rate does seem a bit steep. Do you have ACRP certification? If so, they offer their members discounted rates. For my S-corp, I believe I pay around $550 per year for Errors and Omissions Insurance. This is a discount from the regular, non-member fee, which I believe is somewhere around $600-650 per year. By the way, the quote you received may not be someone trying to "fleece" you. Most companies I initially contacted did not know anything about insuring CRA businesses, so the quotes I received varied widely, presumably based on other "similar" occupations.

Here is the direct contact for the insurer I use (via ACRP):

William G.F. Sullivan
Account Executive
CM&F Group, Inc.
99 Hudson Street, 12th Fl.
New York, NY 10013

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