Making E&O part of the agency plan

This is an excerpt from a Rough Notes article authored by Dave Willis that I contributed to in the October 2012 edition.

As 2012 winds down, principals are cementing plans for next year—a year they hope will bring increased revenue and strong retention. As important as sales, marketing and customer relationships are, however, principals need to work on defense—maintaining a strong E&O focus—along with their offense.

“The first thing an agency or brokerage owner should do is conduct an assessment of where his or her organization is in terms of its E&O culture and commitment,” explains Curtis Pearsall, CPCU, CPIA, AU, ARM, AIAF, principal of agent E&O consultancy Pearsall & Associates. “A number of E&O carriers offer this type of self-assessment, which can show what the agency is doing well and pinpoint areas for improvement.”

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