E&O Tip – Are you using your Agency Management System to Reduce your E&O exposure?
One of the capabilities that that you should look for when purchasing a system, does it provide the capability to focus on cross-selling opportunities. Some system allowed an agency to establishE&O Tip – The Importance of Self Audits
Upon performing the review and the tabulation of the results, each employee reviewed should be provided feedback on how they did. It is realistic to expect that those employees may have some commentsE&O Tip – When a customer’s signature didn’t help
Most E&O seminars will stress the importance of securing the signature of the client on the appropriate applications. This is certainly very sound advice since in most, if not all, jurisdictions,E&O Tip – Are you doing the necessary follow up?
There is no doubt that life at the agency side of the business is hectic and there are no signs that it will be slowing down any time soon. It is very easy to have an element of "trust" on many of theE&O Tip – The Consent to Settle clause is it really a bad provision?
Most professional liability policies contain a provision that essentially requires the consent of the insured in the settlement of a claim. Carriers typically call it the Consent to Settle clause.ÂE&O Tip – Claims Made vs Claims Made & Reported
While there may be some E&O / professional liability policies written on occurrence forms, most are written on some form of a claims-made policies basis. Essentially, this form provides tE&O Tip – Policy rescission – potentially your worst E&O nightmare?
Let’s assume that your agency is looking to write an account and for some various reasons, the market is not being as receptive as you would like. Every time you tell the carrier the truth, theE&O Tip – Is there an E&O impact when the rating of one of your carriers changes?
While most agencies are pretty good about checking the ratings of the carriers they do business with, these same agencies seem to focus on the ratings changes that occur around mid-year when the varioE&O Tip – Does your Homeowners Policy cover Social Media?
There is a good chance that most of an agent's personal lines customers present some form of social media exposure. If a claim were to develop, to what degree does the Homeowners policy afford coveragE&O Tip – Account Reviews – is your agency at least making the offer?
As I interact with agents in my travels and especially in my seminars, the discussion of account reviews will oftentimes come up. In most of the conversations, the agents response is that while it isE&O Tip – Your E&O limit – some things you need to know
Traditionally, January 1 has been a common anniversary date for many P&C accounts. Actually for many insurance agencies, this is a very common anniversary date for their E&O insurance. HE&O Tip on “Do you have an E&O goal for 2014?”
As we are set to bring an end to another year, this is a good time to be making some personal and professional goals for 2014. So as you look at yourself in the mirror, how would you asE&O Tip on “Be sure to bring closure to open quotes”
In the life of an independent agent, there is typically a lot of quote activity, on both a personal lines and commercial lines basis. A solid E&O best practices that has been promoted for manE&O Tip on Do you have a document that details your documentation expectations?
How does your agency communicate your documentation expectations to the staff? In other words, if I came to work for your agency, how would advise me of what those expectations are? How would I kE&O Tip on E&S proposals – do they provide the coverage you requested?
Let’s take a typical scenario that occurs in virtually every agency. I am going to use a contracting risk to explain my point but this scenario could occur with virtually any class of business.E&O Tip on Producers – don’t rely on your memory – let your documentation tell the story
Over the course of any given day / week / month, producers are interacting with their customers on a host of issues. The conversation could involve discussion on how a specific coverage would work orE&O Tip on Designations: do they increase your liability?
It is interesting how often this question comes up. Actually, this issue seems to find its way into various legal documents (oftentimes this would be the Summons and Complaint that is serE&O Tip on Just duplicate what I have: 5 very dangerous words
These are probably 5 of the most common words spoken by both personal and commercial lines customers. What they seem to be saying, in my mind, is that "I am paying too much...justE&O Tip on How are you at Training your Insurance Producers?
At a recent insurance conference, the topic of training for insurance producers was raised. Actually during the presentation, several quotes were provided that really hit the point on the current staMeet The Experts
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