Monthly Archives: April 2013

What is your personal commitment to E&O prevention ?

There is a saying relating to Agents E&O that ”agencies don’t make mistakes, people do”. Since agencies consists of people, some may say that the commitment towards loss prevention in an agency is the total of the commitment of each of … Continue reading

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“I’m going to sue you”

There is no doubt these few words can bring about some significant emotion and odds are that emotion will be different than hearing the words “Great Job” or ”I love your agency”. Unfortunately, these words threatening legal action have been said more than … Continue reading

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E&O Insights: Directors & Officers Liability Is Not Your Normal Insurance Product

This is an excerpt from an Insurance Journal article that I authored in the April 22, 2013 edition. “If you asked 100 insurance professionals on the agency side what one line of business scares” them the most, it’s likely that … Continue reading

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How is your insurance agency keeping up with the various forms changes?

The one thing that is consistent about the insurance industry is change. ISO (whose forms many carriers utilize) always seem to be tweaking existing forms or developing new ones based on new exposures that are occurring. Agencies need to make a concerted effort … Continue reading

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What does your insurance agency do if you can’t get your insured the coverage they are looking for?

From time to time, there are probably going to be circumstances where your customer is looking for certain coverage that you just don’t have a market for. There are a variety of situations that may cause this. It could involve … Continue reading

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Your insurance agency proposals – do they include these things?

Ask virtually any insurance producer the purpose of a client proposal and you will undoubtedly hear that “the goal is to sell the account”. While it is hard to really argue that point, the insurance proposals that insurance agencies provide (whether … Continue reading

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Are some of your insurance agency binders “oral”, not “written” ?

Oral binders have long been recognized as a common practice in the insurance industry and in most circumstances, the authority of an insurance agent encompasses the ability to bind an insurance carrier orally. So what’s the issue? What’s the problem? … Continue reading

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Late paying customers – are they giving you an E&O headache?

Last night, I received a call from an agency owner on the West Coast. He had been in one of my E&O seminars and took me at my words that “if you ever have a question, don’t hesitate to call … Continue reading

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An insurer denial of customer claim – an E&O claim waiting to happen?

From time to time, a claim incurred by one of the agency’s clients may be denied by the insurance carrier. When this occurs, it is critical that these situations be handled delicately as there is certainly the potential that the … Continue reading

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