Proper Authorization. I recently saw a situation where, in a divorce, one spouse deleted the prized vehicle of the soon to be ex-spouse to spite that person. Not knowing of the divorce, the agency complied. Of course the vehicle was …
Once again, Insurance Journal is polling its readers asking for their thoughts on today’s agency errors and omissions market. Don’t miss your chance to find out what’s been going on with insurance agents’ errors and E&O insurance. The DEADLINE to …
Binding Summaries. A significant risk unrecognized by most producers and CSRs is the risk of being sued by the agency’s own insurance companies. A large proportion of E&O suits that make it all the way to court are brought by …
Discussing Claims with Insureds. A common and often key personality trait of CSRs and producers is that they are people pleasers, especially relative to customers. When it comes to claims, being a people pleaser can get agencies into trouble. In …
Unexpected Staffing Issues do cause E&O claims. Staffing is not usually the title of a PowerPoint slide in an E&O class but staffing is at the heart of many E&O claims. The simplest way in which staffing causes E&O claims …
Staff Licensing. Staff licensing may seem like such an obvious topic that it does not deserve even to be discussed in a blog. However, many facets exist to staff licensing that can and do create E&O exposures, and even possibly …
Certificates of Insurance, Part 2.Last week’s blog covered the reason certificates cause so many E&O mistakes due to processing errors. This week’s blog covers the second reason certificates of insurance create so many E&O errors. That reason is agencies are …
Certificates of Insurance. Certificates are probably the most frustrating aspect of processing commercial insurance today. A blog is not the place to detail the entire universe of certificate E&O exposures and thankfully, Bill Wilson has written a great manual available …
Voice mail disclaimers. Most agencies today have standard voice mail disclaimers that state something to the effect of, “No coverage can be bound or obtained by leaving a voice mail.” I support this disclaimer. However, two E&O exposures are created …
Minor items do cause E&O claims and sometimes your carriers exploit these minor items. Almost every agency occasionally receives law suit papers and every agency knows they have to forward these papers to the carrier immediately. The papers the agency …
