I am an Enrolled Actuary. I am discussing a possible business arrrangement with a firm that wishes to add DB plans to their services. Presumably, there would be very few such plans, at least at the outset, however we are running into a snag regarding E&O insurance.

It seems that both the company and I need to be covered separately for work we do on DB plans. That's one thing, but perhaps a bigger issue is that the premium quotes we are receiving do not take into consideration the fact that we will be servicing a very small number of plans. Paying thosands of dollars a year for premiums doesn't make any sense if we are only servicing a few plans.

Does anybody have any suggestions as to any companies that might be able to quote us a premium that takes into account the small clientele?