Have You Updated Your Procedures to Cover Handheld Devices? Without question, handheld devices, whether they be simple phones, pda’s, or smart phones, have transformed agency communications. Agency producers and staff can and do communicate with clients, vendors, and carriers using …
Firmer insurance prices and an upward trend in agency revenues are signs of good times for most independent agencies. These same trends, however, are reflected in today’s insurance market for agency errors and omissions coverage where they can pose challenges …
Review Your E&O Carrier’s Requirements for Carrier Writing Standards. There’s a myth going around that if an agency writes with a carrier rated B+ or better by A.M. Best, their E&O policy will cover them. Based on the E&O policies …
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 …
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. This annual survey …
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 …
