Most agents’ errors and omissions (E&O) carriers report that commercial lines generates the majority of E&O claims. However, a significant number of E&O claims arise from the sale and service of personal lines. For agents selling personal lines, understanding the …
Ask errors and omissions (E&O) carriers about their results when dealing with commercial lines shops and most, if not all, would comment that heavy commercial lines agencies definitely generate their share of E&O claims and when those claims occur, they …
Travel most any highway and it will appear that the trucking industry is healthy. Moreover, many insurance professionals are optimistic about the future of the trucking market. While this potentially provides insurance agencies with some significant opportunities, it is vital …
The phrase “you can’t judge a book by its cover” dates back to the mid-1800s. While that may ring true for the literary world, the opposite is true when it comes to an organization’s errors and omissions (E&O) culture. You …
Typically, there’s not much warning when a disaster strikes. No one knows the “when,” “where” and “how severe” of the next big weather event. Yet catastrophes include more than just what Mother Nature dishes out, such as tragedies like the …
If one were to ask an agency how many of its personal and commercial accounts have an umbrella, most agencies should be able to determine that number without much difficulty. After all, many agency management systems have the ability to …
Although most agencies insure at least one restaurant or tavern, this shouldn’t suggest that they are easy accounts to write. Errors and omissions (E&O) carriers will readily admit that writing this class of business presents some challenges. Moreover, these challenges …
Education of your agency’s clients will likely happen at one point or another. Ideally, it will happen proactively through a series of account reviews, newsletters and other learning opportunities. The other option is that it occurs reactively when a customer …
While most agents are aware that mergers and acquisitions are hot topics in the world of insurance agencies, insurance is not the only segment of our industry affected. In many communities, hospitals, accounting firms, real estate firms and law firms …
As spring approaches, agencies may have some opportunities to secure commercial accounts dealing with watercraft business. These accounts, typically classified as marinas, boat yards or boat moorage, offer a multitude of services to private and commercial boat/yacht owners. Understanding the …
