Monthly Archives: September 2011

Upcoming E&O loss control speaking engagements

On behalf of Utica National, a preeminent writer of Agents E&O, Jim Scamby (Tucker, Heifetz & Saltzman, Boston) and I will be presenting at the MAIA “Big Event” on November 4th and 5th. The topic is “E&O Hotspots to be on the … Continue reading

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How is the economy affecting your insurance agency clients?

In one of my recent seminars (the topic was current E&O Hotspots), a young lady very astutely commented that from her perspective, the economy was having a significant effect on how the agency customers were managing their insurance programs. Ironically, this issue was Hotspot # … Continue reading

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The “tail” – an important consideration when purchasing your Agents E&O coverage

Recently, I had the opportunity to review the majority of the numerous Agents E&O policy forms (sounds exciting, doesn’t it?).  First and foremost, it was very evident that “no two E&O policies are the same”. Of the many differences among … Continue reading

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A strong E&O culture in an insurance agency starts at the top

There is no doubt that to have a strong E&O culture in your agency, it is vital that top management actively express their support and commitment. A management that leads by example will clearly show the staff that management is serious … Continue reading

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Be careful that your insurance agency does not admit liability

When an agency is faced with an E&O claim, there are many emotions that the staff will feel. For the staff members that were most involved in the matter, they may feel that 1) they didn’t do anything wrong or … Continue reading

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Do your insurance customers understand how co-insurance works?

Co-Insurance is certainly a key and yet unique term, in the insurance industry. Many customers either don’t understand how it works or may believe they understand when in reality, they don’t. Where else do we see the phrase co-insurance? In Health Insurance. Does … Continue reading

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Is your insurance agency requiring the customer’s signature on the application?

Bottom line – You should be. Why? In most, if not all jurisdictions, a customer will be held responsible for the contents of a signed application. Let’s look at two different scenarios. 1)     If after completing the application based on the information provided … Continue reading

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Satisfaction Lower for Homeowners with Flood Insurance

Personally I found the study that is referenced in the attached interesting yet surprising. One can only wonder if a campaign to educate customers on flood insurance (including what is and what is not covered) would result in a better “score”. The following … Continue reading

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Do you know how your E&O deductible works?

There is no doubt that many agency management believe that they have a good understanding on how their policy deductible will work. Unfortunately for some, they discover at claim time that their understanding was not totally correct. In actuality, there … Continue reading

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