Regardless of whether the market is hard or soft, for agencies to be successful will typically require that they have an active, ongoing relationship with at least a couple of excess and surplus lines (E&S) wholesalers. The E&S industry has …
There are similarities between deciding to run a marathon and managing your agency’s errors and omissions (E&O) exposure. Very few people, if any, can wake up one day, decide to run a marathon and then, without training, run it. A …
For the last 25-plus years, the No. 1 cause of errors and omissions (E&O) claims has been “failure to provide the proper coverage.” In 2013, many E&O carriers reported that this accounted for more than half of their E&O claims. …
The workers’ compensation class of business results in upwards of 10 percent of all errors and omissions (E&O) claims every year. While this may not seem like a lot, it is a class agents must be sensitive to for a …
If your agency is looking to manage disasters and catastrophes from an errors and omissions (E&O) perspective, could performing account reviews for your clients be just the answer? Absolutely. As many agencies discovered, account reviews are a tremendous tool that …
From a producer’s perspective, the words in the headline are dangerous when spoken by a customer or prospect. Simply duplicating what the insured currently has, whether the account is commercial or personal, can and has caused more than its fair …
From a producer’s perspective, the words in the headline are dangerous when spoken by a customer or prospect. Simply duplicating what the insured currently has, whether the account is commercial or personal, can and has caused more than its fair …
Hard market or soft, having an active relationship with at least a couple of excess and surplus lines (E&S) wholesalers is typically required for agencies to be successful. For as long as insurance has been part of our society, the …
When initially thinking about umbrella coverage as it relates to generating errors and omissions claims, most would probably believe the main issue is the lack of an umbrella. In other words, a customer has a significant loss only to find …
Virtually every town in the United States has a restaurant or tavern, so your pursuit of these risks is fairly likely. Unfortunately, at times these types of risks are not the easiest to place. Before you take that first step …
