E&O Tips
7 Tips to Remember When Moving a Client's Coverage to a New Carrier
Failure to mirror coverage when moving a client, whether new business or a renewal, to a new carrier is one of the most significant reasons for an E&O claim. A common scenario is when the insured suffers a loss that would have been covered by the prior carrier, but is not by the new carrier. This turns into an E&O claim against the insurance agent. Learn More »
The "Dos and Don'ts" of Creating Website Content for Your Agency
The content of your agency's website can be a key issue in determining the direction of E&O claims, including the degree of legal liability your agency can be held to. Your site will be scrutinized if a potential E&O matter comes to light and the plaintiff's attorney is doing their due diligence to determine any liability. Learn More »
Documenting Conversations Can Help Reduce Your E&O Exposure
Solid, consistent documentation can significantly reduce your E&O exposure while also better servicing your clients – especially with over-the-phone or in-person conversations. It's not unusual for a client to disclaim what was discussed verbally. In "he said, she said" situations, the client is likely to prevail over the agent. When a dispute arises, good documentation is your best defense. Learn More »
6 Questions to Ask Before Buying a Cyber Insurance Policy
All insurance agencies need cyber insurance. Why? Agencies hold significant amounts of personally identifiable information (PII), use email heavily, and frequently utilize the internet. Cyber insurance policies often vary significantly from one carrier to another, so it can be difficult for you to choose the coverage that best suits your agency. Learn More »
Best Practices When Handling Applications
Insurance applications are among the most important documents an agency will handle – and can play a key role should a problem develop with a client's coverage. Having a procedure to ensure uniform handling of applications can help avoid action against your agency when a problem arises. Learn More »
8 Best Practices to Help Your Agency Avoid E&O Claims involving Umbrella Coverage
E&O claims involving Umbrella Coverage happen often. Allegations include failure to place, failure to suggest, exclusions in the Umbrella form the client was unaware of, and frequently, coverage gaps where the underlying limit was not at the required level. Learn More »
Prepare for a Catastrophe Now – Before It Happens
A vital part of providing superior service to your clients after a catastrophe strikes is preparing your agency before it strikes. Learn More »
SELLING, BUYING, OR MERGING AN AGENCY? You Need Tail Coverage
Tail coverage, also called an extended reporting period (ERP), is an endorsement to your E&O policy that extends the period in which you can report claims. Learn More »
Protective Safeguards: A Longstanding Source of E&O Claims
Commercial Property and Businessowners (BOP) policies often contain a protective safeguards endorsement. Protective safeguards can include an alarm system, sprinkler system, security service, and a commercial cooking exhaust and extinguishing system. Learn More »
Carrier Ratings: Have the Necessary Process in Place
Rating agencies such as A.M. Best, Demotech, S&P, etc., periodically dissect the financials of nearly every insurance carrier in the marketplace. Learn More »
Do You Write New Auto Dealers?
Ford Motor Company recently began offering a bailment and component installation agreement to auto dealers. Here's what it's about and how it could create challenges from an errors-and-omissions standpoint. Learn More »
Do You Have Cyber Insurance for Your Agency?
Cyber insurance coverage is a line with frequent changes to the coverages offered and underwriting guidelines. Learn More »
Reviewing Limits with Clients
How to protect yourself while best servicing your clients. Learn More »
