Errors and Omissions (E&O) insurance is important because it protects professionals and businesses from potential lawsuits that may arise due to errors or omissions in their work. It is a type of professional liability insurance that covers the cost of legal defense and damages awarded to clients who suffer financial losses as a result of a professional’s mistake or negligence.
Here are some reasons why E&O insurance is important:
Protects your business: E&O insurance protects your business from financial losses due to lawsuits, which can be expensive and time-consuming to defend against.
Helps maintain your reputation: In the event of a lawsuit, E&O insurance can help to cover the cost of legal fees and other expenses, allowing you to maintain your reputation and business operations.
Required by clients: Many clients require their service providers to have E&O insurance as a condition of doing business with them.
Covers a variety of industries: E&O insurance is not limited to any specific industry and is available for a wide range of professions, including lawyers, doctors, architects, engineers, and more.
Provides peace of mind: Having E&O insurance can give you peace of mind, knowing that you are protected against potential lawsuits and financial losses that could arise from mistakes or omissions in your work.
Overall, E&O insurance is a crucial investment for any professional or business that provides services to clients. It can provide financial protection and peace of mind, and may even be required by clients to do business with you.
Daniel C. Lewis resides in Carmel, IN. He was named in 2010 Notary of the Year by the National Notary Association. He was also named in the same year an Honorary Secretary of State by the Indiana Secretary of State. Daniel is currently serving as the Executive Director of the Lewis Notary & Training Services Inc. Daniel is an entrepreneur, writer, video editor, and Keynote Speaker.
The National Notary Association (NNA) Influencer of the Year Award is an annual award that recognizes an individual who has made a significant impact in the notary public community through their advocacy, education, and leadership. The award is presented by the National Notary Association, a professional organization that represents and supports notaries public in the United States.
The NNA Influencer of the Year Award is given to a notary public who has demonstrated exceptional dedication to promoting the role and importance of notaries in their community and beyond. Nominees are evaluated based on their achievements in areas such as legislative advocacy, education and training, community outreach, and innovation in the notary industry.
The award serves to honor and recognize the hard work and commitment of notaries public who go above and beyond to promote the importance of their profession and help others understand the critical role that notaries play in protecting the public and preventing fraud.
The nominations are open to all Notaries who have a presence on at least one social media platform.VOTE TODAY HERE.
Daniel C. Lewis resides in Carmel, IN. He was named in 2010 Notary of the Year by the National Notary Association. He was also named in the same year an Honorary Secretary of State by the Indiana Secretary of State. Daniel is currently serving as the Executive Director of the Lewis Notary & Training Services Inc. Daniel is an entrepreneur, writer, video editor, and Keynote Speaker.
Networking is a crucial component of building a successful career. Whether you’re looking to advance in your current job, transition to a new field, or start your own business, having a strong professional network can help you reach your goals. In this blog post, we’ll explore the benefits of professional networking and provide some tips on how to build and maintain your network.
Why is Professional Networking Important?
Professional networking is important for several reasons. Here are a few of the key benefits:
Access to Opportunities: When you have a robust professional network, you’re more likely to hear about new job openings, business ventures, and other opportunities that could advance your career.
Increased Visibility: By attending industry events and engaging with other professionals, you can raise your profile and increase your visibility in your field.
Personal Development: Networking allows you to learn from other professionals and gain new insights and perspectives on your industry.
Support and Mentoring: Your network can provide support and mentoring as you navigate your career path.
Business Growth: If you’re an entrepreneur, networking is critical for building your business. You can meet potential clients, partners, and investors who can help you grow your venture.
How to Build and Maintain Your Professional Network
Building and maintaining a professional network takes time and effort, but the rewards can be significant. Here are some tips to help you get started:
Attend Industry Events: Attend conferences, seminars, and other events in your field to meet other professionals and learn about new developments in your industry.
Connect on Social Media: LinkedIn is the most popular social network for professionals, but other platforms like Twitter and Instagram can also be useful for networking. Be sure to engage with others and share your own insights and expertise.
Join Professional Organizations: Joining a professional organization can give you access to a network of peers in your field. You can attend meetings, participate in online forums, and take advantage of other resources offered by the organization.
Offer Value to Others: Don’t just network to advance your own career. Look for opportunities to offer value to others in your network by sharing your knowledge, making introductions, or volunteering your time and expertise.
Follow-Up: After meeting someone at an event or connecting online, be sure to follow up with a personalized message. This can help you build a relationship and stay top of mind with your contacts.
Maintain Your Network: Building a network is only the first step. To get the most out of your network, you need to maintain it. Keep in touch with your contacts, share updates on your career, and look for opportunities to collaborate.
In conclusion, professional networking is a critical component of career success. By building and maintaining a robust network of contacts, you can access new opportunities, gain new insights and perspectives, and build valuable relationships that can support your career growth. Follow the tips outlined in this post, and you’ll be well on your way to building a strong professional network.
Daniel C. Lewis resides in Carmel, IN. He was named in 2010 Notary of the Year by the National Notary Association. He was also named in the same year an Honorary Secretary of State by the Indiana Secretary of State. Daniel is currently serving as the Executive Director of the Lewis Notary & Training Services Inc. Daniel is an entrepreneur, writer, video editor, and Keynote Speaker.
2021 has been a very unique year in the notary business. I started out the year in the hospital in the intensive care unit recovering from the effects of COVID-19. Even with being in the hospital for four weeks in January 2021 I still gain a record in profit for the year. Here are some of the top-selling notary products that we had this year.
This course is part of our professional notary enrichment courses. A Notary Permit Runner presents applications, plans, or the necessary paperwork for a building project to the building or other local and state departments for their permission. The NPR obtains (pulls) the permit; then either faxes or mails a copy to the builder or drops the permit off to the builder. The best part of this job? You get paid IMMEDIATELY!
This book is for anyone who wishes to become an entrepreneur, and specifically notaries. It is a step-by-step guideline as to how to create a business. Authors Daniel C. Lewis and Judith P. Lawrence are from opposite sides of the country, having connected on Linkedin, and having decided to combine their decades of business expertise to help others to either start a new business or make a transition to a different business easier. Daniel, who frequently lectures about starting a new career, knows first-hand the kind of hard work it takes to develop a new business. Judith, for whom this is a second life career, knows what it is like to be knocked all the way down and fight to come all the way back. This interactive book is a combination of facts and funny stories. The readers will learn about the PPP theory … Policies, Procedures and Profits which will enhance their businesses immediately. Click here for more information
In this exceptional ebook, the authors gives you the tools to market and thrive in the notary industry. It is a masterful writing for anyone considering to go into the notary entrepreneur field as well as seasoned notary entrpreneurs. Must have for serious notaries.
This is the perfect stamp for the professional Notary Public. This Jurat Stamp has the required language for each state, for when the document you are notarizing is missing it.
This course will fulfill the state requirements to become a licensed title producer in Indiana. This course will cover Title Insurance history and basics as well as ethics and remote notarizations.
Daniel C. Lewis resides in Carmel, IN. He was named in 2010 Notary of the Year by the National Notary Association. He was also named in the same year an Honorary Secretary of State by the Indiana Secretary of State. Daniel is currently serving as the Executive Director of the Lewis Notary & Training Services Inc. Daniel is an entrepreneur, writer, video editor, and Keynote Speaker.
The featured notary this week is LaKeshia N. Adkins. LaKeshia started her notary business from research did after becoming a Real Estate Agent. LaKeshia is known around the Indianapolis area as one of the most impressive up-and-coming Real Estate Agents. LaKeshia has started her notary business by diversifying her business by not only conducting real estate assignments but also offering general notary work. Here is a video interview with LaKeshia.
Do you know an outstanding Indiana Notary that you would like to see featured in our next article? Is that notary you? If so, please submit their (or your) information here (click here)and maybe they (you) will be the next Featured Notary.
Recently, I saw a Facebook post written by one of my good friends, Christine. She posted that she was attending a high school state championship football game in Michigan. Her post seemed to indicate that she was very excited to be there for her son’s high school football team game. She was posting frequent updates to the game which at times seemed to be very closely matched. But then she posted the final score, 55-33 in favor of the other team.
This really made me think. If we were to put each player from each team on a scale and weigh them, each team would probably weigh about the same. If we were to take each team to a relay track and had them race each other (of course some players would be faster than others) but overall the teams would come out pretty much even. If we were to have each team go into the weight room at a gym and lift weights against each other we would probably get the same results. If all these factors come out the same then what gives a team or a person the edge that gives them a dominating win in a major game? Both teams at the beginning had the will to win. I think the award-winning Coach Bobby Knight said it best:
“The will to succeed is important, but what’s more important is the will to prepare.”
Bobby Knight also said:
“Most people have the will to win, few have the will to prepare to win.”
This is why I think the most important thing you can do as an entrepreneur in any field is to prepare to win. The foundation of preparing to win is setting goals. Goal setting is the single most important thing an entrepreneur can do for themselves, their family, and their businesses. Here are four reasons why goal setting is so important:
Goals give you a laser-like focus. Goals allow you to zero in on each day’s task with laser precision and weed out wasteful efforts.
Goals measure progress. Tracking your progress toward achieving a goal is only possible if you set a goal in the first place.
Goals will keep you motivated. It is harder to put off work until the next day if you have a goal (which will include a timeline).
Goals help you determine your focus in life. The act of setting goals really forces you to determine what your true loves and wants in life are.
Goal setting involves the development of an action plan designed in order to motivate and guide a person or group toward a goal. Goals are more deliberate than desires and momentary intentions. Therefore, setting goals means that a person has committed thought, emotion, and behavior toward attaining the goal.
How much money do you think you lost over the last 12 months from not hitting your goals?
How much time have you lost with your family from goals and standards that would give you more family time and peace of mind?
Are you setting your yearly, monthly, or weekly goals too low?
Where would you be today if you were to hit the goals you set for yourself last year?
If goal setting is important to you click hereto join us on our next goal-setting webinar and start your 2023 off right.
Daniel C. Lewis resides in Carmel, IN. He was named 2010 Notary of the Year by the National Notary Association. He was also named in the same year an Honorary Secretary of State by the Indiana Secretary of State. Daniel is currently serving as the Executive Director of the Lewis Notary & Training Services Inc. Daniel is an entrepreneur, writer, video editor, and Keynote Speaker.
About 7 years ago (while going through a mid-life crisis), I decided to learn how to ride a motorcycle. Growing up in South Carolina a lot of my friends had motorcycles as a family bike. My family didn’t have a lot of resources so we never had one but that never killed my desire to have a motorcycle to ride. When I turn 50 I took a course on how to operate and ride that was very eye-opening. Not only did this course teach me the basic fundamentals of riding a motorcycle, but it also taught me some great life-saving lessons on defensive driving. As notary entrepreneurs, we are always on the road running from assignment to assignment. Here are a few tips I picked up from my +40 years of driving and the motorcycle course.
Take a defensive driving course. I have a large network of notary entrepreneurs I keep in contact with regularly. This could explain why every 3-6 months I hear of another notary entrepreneur who has been in a serious car accident. Much of the time it is not even the notaries fault. A defensive driving course will serve as a valuable refresher on what to look out for while on the roads and highways. It will also boost your driving prowess to reduce the chances that you cause an accident that harms others, their vehicles, and your own person or vehicle.
Budget and schedule regular vehicle maintenance. As notary entrepreneurs, your vehicle should be considered an asset. Keeping it properly maintained is critical to the success of your business. By properly maintaining your vehicle, you’ll reduce future repair costs, optimize your car’s performance, maintain its value and extend its life.
Check and replace your tires appropriately. Now I know what you are thinking…shouldn’t this tip be in the “Budget and schedule regular vehicle maintenance” section? My experience has shown me that this should have its own section because this is so important. Several years ago I was in a near-fatal car accident. I was driving too fast for the conditions on the road and did not maintain my vehicle properly. My tires were in terrible shape. As I was driving down a country road (too fast) I tried to apply the brakes as I was approaching a corner. I soon discovered that not only was I not slowing down but the car fishtailed and slide right off the road doing around 60 miles an hour. I remember being thrown around the car like a ragdoll and finally coming to a stop. The only thing that saved me was that I had my seatbelt on. Months before the accident I remember looking at my threadless tires telling myself that one day I need to get new tires but never did. After that accident, I mentally wasn’t able to drive for 18 months. It took me 6 months before I would ride in a car with someone else driving.
Here is a good rule of thumb for tires. Since your tires lose about one to two PSI every monthl after you fill them, then as a general rule, check all four of your tires, including your spare, at least once a month, and during large termperature swings. I believe maintaining proper tire pressure and a quick inspection of the threads on your tires can be life saving. Check your vehicles Owners Operators Manual for more details.
Before driving in a residential neighborhood turn off the music, books on tape, or other distracting sounds in your vehicle. Driving through neighborhoods, especially those neighborhoods that you are not familiar with, you will need to give your full attention to not only finding your location but to find it safely. With distracting sounds off in your car you can focus on safe arrival. When returning to your car walk completely around your vehicle to make sure kids are not playing behind your car or that you don’t run over a toy placed behind your vehicle. This habit after leaving an assignment has really saved me from a lot of later headaches.
Staying safe on the road is one of my number one priorities. What are some tips that you found helpful on the road.
Daniel C. Lewis resides in Carmel, IN. He was named in 2010 Notary of the Year by the National Notary Association. He was also named in the same year an Honorary Secretary of State by the Indiana Secretary of State. Daniel is currently serving as the Executive Director of the Lewis Notary & Training Services Inc. Daniel is an entrepreneur, writer, video editor, and Keynote Speaker.
The featured notary this week is Laura Jones. Laura is known as one of the most very dynamic, energic, and fearless notary entrepreneurs in Indiana. Laura has made quite the name for herself through her online notary groups and in-person professional notary meet-ups. Here is an interview conducted with Laura recently.
Interviewer: Can you tell us how you got started in the notary business?
Laura: I decided to get out of the business I was in for 20+ years and do something different. I did some research and decided that this is what I am going to do. I wanted to get into something with real estate but I didn’t want to be a Realtor.
Interviewer: Why Real Estate?
Laura: My husband Richard and I already owned some real estate and after some extensive research I found the Notary Signing Agent field would be a great fit.
Interviewer: How long have you been in the notary business?
Laura: Three years
Interviewer: How many assignments have you done so far?
Laura: I have done about 3,000 assignments so far.
Interviewer: Where do you want to go with your notary business?
Laura: I not sure. I know I want to expand but haven’t quite figured that out yet.
Interview: How have you been able to overcome challenges?
Laura: FIrst of all I don’t let fear take control of me. A lot of people allow fear to take control but I don’t live in fear. When I was starting this career and leaving a career that I knew for 25 years I had no fear. I went into it as if I was starting a new career. I had no fear. I knew I had a task at hand and I have a lot of confidence in myself. I have a belief that I can do tough things.
Interviewer: What areas do you cover?
Laura: My main area is Marion County and the surrounding counties and one more level after that. I have traveled all across Indiana.
Interviewer: Tell us something not many people know about you.
Laura: I gotten hit in a drive through at MacDonald by a drunk driver.
Interviewer: How did that impact you?
Laura: I was mad and had to get my car repaired. I was not injured.
Do you know an outstanding notary that you would like to see featured in our next article? Is that notary you? If so, please submit their (or your) information here(click here) and maybe they (you) will be the next Featured Notary.
You are invited to a one-hour power-packed Zoom conversation focusing on starting and marketing your notary business. This conversation will be hosted by the authors of “Make Your Business Our Business” Judith Lawrence and Daniel C. Lewis. Here is the link:
Daniel Lewis is inviting you to a scheduled Zoom meeting.
Topic: Starting a Notary Business Zoom Conversation Time: Apr 15, 2021 12:00 PM Indiana (East)
Meeting ID: 865 6910 3365 Passcode: 981661 One tap mobile +19292056099,,86569103365#,,,,981661# US (New York) +13017158592,,86569103365#,,,,981661# US (Washington DC)
Dial by your location +1 929 205 6099 US (New York) +1 301 715 8592 US (Washington DC) +1 312 626 6799 US (Chicago) +1 669 900 6833 US (San Jose) +1 253 215 8782 US (Tacoma) +1 346 248 7799 US (Houston) Meeting ID: 865 6910 3365 Passcode: 981661 Find your local number: https://us02web.zoom.us/u/kfULTAryb
Join the conversation at 12:00pm on Thursday, April 15, 2021. Hope to see you there.
Every day someone is jumping in, feet first, starting a new notary business. They have checked out some websites, joined a couple of local and national organizations, and took the time to write out a business plan for their notary business. One question that should come up at the very beginning of this new venture is….
What type of insurance do I need to properly protect my business as well as my personal assets?
Most online websites will give some basic information about Bonds and E&O Insurance. If this was the year 2001 that would be great protection but since we are in 2018 this definitely won’t be sufficient coverage for the professional notary entrepreneur. Let’s take a look at some of the different protection available for the notary entrepreneur.
Bonds
What is a Notary Bond? A notary bond is a legally binding contract guaranteeing the notary will complete tasks ethically and in adherence to the local laws. Notary bonds are required because notaries and notaries public are entrusted with a great deal of legal authority and are appointed as witnesses who ensure signatures on important legal documents are valid. Bonds are usually required in each jurisdiction (check your local requirements).
Please keep in mind, however, bonds actually protect the public and not the notary. The reason why that’s important is that if there is ever an issue and your notary bond is called to pay damages, the notary would need to repay the bond back to the bonding company.
Errors & Omission Insurance
E&O Insurance is a type of professional liability insurance that protects the notary entrepreneur from mistakes resulting in a financial loss by the customer. If a customer makes a claim for damages against a Notary Bond, E&O Insurance will protect the notary’s assets up to the chosen coverage amount. Without E&O Insurance notaries are personally liable for damages caused by a mistake made while acting as a notary, which is why this coverage is so important. It is important to remember that E&O Insurance does not cover mistakes deemed to be intentional in nature. E&O Insurance is highly recommended. Click here to talk with a licensed agent
Signing Agent E&O Insurance
Signing Agent E&O Insurance (also called Signing Agent Liability Insurance) is designed to fill the gaps not covered by traditional Notary E&O Insurance. Signing Agent Liability Insurance is specifically designed for notaries who assist with loan signings. The policy fills the gaps left with traditional Notary E&O Insurance, which only provides coverage for the actual notarization in loan packages. Signing Agent E&O Insurance covers unintentional errors or omissions while the notary is acting as a “signing agent”. In addition to the notarizations, this insurance covers such things as getting all other signatures and initials, correctly dating the documents, completing the signing in the time period specified, and promptly returning the signed documents. Defense costs are also covered within the coverage amount. Click here to speak with a licensed agent
Identity Theft Protection
I was recently in a room full of professional notary entrepreneurs and asked two questions. The first question was how many of you ever had to use your Errors & Omissions Insurance because of a claim for damages? Keeping in mind the average year’s experience was about 7 years, not one hand went up. Then I asked how many of you ever been a victim or knows a victim of identity theft? All the hands in the room went up. Having identity theft protection is one of the most underrated forms of insurance that the notary entrepreneur can have. I am not referring to some watered-down version of identity theft protection from a bank or as an add-on to an insurance policy that will not properly protect the notary or his/her business. I am referring to a comprehensive plan that not only protects against the notary from credit card scams, driver’s license identity theft, passport scams, and medical fraud but even protect the notary’s social media post from being hijacked.
Since some notary entrepreneur assignments deal primarily with real estate transactions and require the notary to submit to annual background screens, having comprehensive identity theft protection is critical to operating an efficient effective notary business. Click here to speak to a licensed agent about receiving identity theft protection
Daniel C. Lewis resides in Carmel, IN. He was named in 2010 Notary of the Year by the National Notary Association. He was also named in the same year an Honorary Secretary of State by the Indiana Secretary of State. Daniel is currently serving as the President of the Indiana Notary Association. Daniel is an entrepreneur, writer, video editor and Managing Partner of Lewis Notary Services Inc. Daniel has recently obtained a license as a Financial Advisor.
