On April 9, 2015 the National Association of Professional Agents required a downpayment on a E&O Insurance Policy. The only options were to pay for one year or pay with a down payment. After choosing the downpayment option, I was notified that the downpayment was not for E&O Insurance Coverage only. The downpayment included a one year membership to NAPA for $45; it also included an administrative fee to CNA for $42; if also included a monthly service fee for $5; and finally it included a one month premium for E&O Insurance Policy Coverage for $36. I desired to make the policy void but was not given that option. A refund of the downpayment is not an option. That means, there is no refund for the one year NAPA membership; nor can I cancel my one year membership. There is no refund for the administrative fee by CNA. There is no refund for the service fee. There is no refund for the E&O Insurance policy that started on April 9th, 2015; I can only cancel the insurance policy on the date of May 1, 2015. I am a relatively new insurance agent. I have not written any policy individually. Nor do I have an active appointment with a insurance company for doing business. Essentially, the National Association of Professional Agents has charged me $123.00 for a one month policy without the option to void that policy. Membership with WFG/TransAmerica was less than NAPA. Membership with Primerica was less than NAPA. Membership with BankersLifeInsurance was less than NAPA. Each of the other member companies provided more reasonable agent services and training than NAPA over a 4 day period.
On April 9, 2015 the National Association of Professional Agents required a downpayment on a E&O Insurance Policy. The only options were to pay for one year or pay with a down payment. After choosing the downpayment option, I was notified that the downpayment was not for E&O Insurance Coverage only. The downpayment included a one year membership to NAPA for $45; it also included an administrative fee to CNA for $42; if also included a monthly service fee for $5; and finally it included a one month premium for E&O Insurance Policy Coverage for $36. I desired to make the policy void but was not given that option. A refund of the downpayment is not an option. That means, there is no refund for the one year NAPA membership; nor can I cancel my one year membership. There is no refund for the administrative fee by CNA. There is no refund for the service fee. There is no refund for the E&O Insurance policy that started on April 9th, 2015; I can only cancel the insurance policy on the date of May 1, 2015. I am a relatively new insurance agent. I have not written any policy individually. Nor do I have an active appointment with a insurance company for doing business. Essentially, the National Association of Professional Agents has charged me $123.00 for a one month policy without the option to void that policy. Membership with WFG/TransAmerica was less than NAPA. Membership with Primerica was less than NAPA. Membership with BankersLifeInsurance was less than NAPA. Each of the other member companies provided more reasonable agent services and training than NAPA over a 4 day period.