do insurance agents get commission on their own errors and ommissions policy?

Insurance agents typically do not receive commission on their own errors and omissions (E&O) policy, as this type of insurance is intended to protect the agent from liability for any mistakes or omissions made in their professional duties. E&O insurance, also known as professional liability insurance, is designed to provide coverage for professionals who provide advice, services, or recommendations to clients. This type of insurance helps protect professionals from financial damages resulting from claims of negligence, errors, or omissions made in the performance of their professional duties. Insurance agents are often required to carry E&O insurance as a condition of their license and to protect themselves from potential lawsuits resulting from mistakes or omissions made in their work. The cost of E&O insurance can vary based on a number of factors, including the type of insurance the agent sells, the size of their business, and their claims history. While insurance agents may not receive commission on their own E&O policy, they may earn commissions on other types of insurance policies they sell, such as auto, home, or life insurance. Commission rates can vary based on the type of insurance policy, the insurance company, and the agent's contract with the company. It's important to note that commission-based compensation structures can create conflicts of interest for insurance agents, as they may be incentivized to sell policies that are not necessarily in the best interest of their clients. To avoid conflicts of interest, it's important to work with an insurance agent who is transparent about their compensation structure and committed to providing objective advice and recommendations.