It seems our liability insurance (E & O) premiums keep on increasing. We are lucky we have never had any claims in 16 years.

Has any plan administrator ever submitted a claim on their E & O insurance? I know much depends on the amount, size of the firm etc., but what happens to the premium?

I am guessing a small plan administrator (250 plans) would get one shot. In other words a $6,000 premium may go to $35,000 if any substantial claim is ever made. That is if anyone would ever even insure you after a claim.

Just curious as we pay our premium for next year.