Monthly Archives: October 2013

E&O Frequency – holding its own in 2013

Looking back a year, a number of E&O carriers saw their E&O frequency in the 6-7% range. In other words, 6-7 E&O claims for every 100 agencies. This was actually an excellent result considering that frequency was over double that 20 … Continue reading

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What is the right E&O limit ?

This is one of the most common questions that I am asked in my E&O seminars. Unfortunately, it is not an easy question to answer. In fact, in some respects, it is an impossible question to answer. First, it is … Continue reading

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Are you letting your customers know that higher limits were available?

Oftentimes, E&O claims are generated because the agency client has suffered a loss and while there is some coverage, the coverage was not sufficient for the full amount of the claim. This scenario can happen frequently especially when the claim involves liability … Continue reading

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Are the renewal terms changing on your E&S business ?

There is no doubt that the Excess & Surplus Lines marketplace serves a very vital role in the insurance industry. There are many great companies that do a terrific job in insuring business that the standard market does not have the … Continue reading

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Some certificate issues every agency should know

It is amazing that a document as simple as a certificate of insurance is causing a significant number of E&O claims. Many of the E&O carriers are reporting numbers in the 4-6% area while some are seeing that certificates are … Continue reading

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Include an education goal as part of your annual employee reviews

It is interesting that in my E&O classes, we will typically address the issue of staff education. While most agencies have a focus on staff education, at times, I am not convinced how formal that process is. A great approach to … Continue reading

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E&O Insights: How Well Do You Know Your Accounts?

This is an excerpt from an Insurance Journal article that I authored in the October 7, 2013 edition. “Professional liability, or errors and omissions as it is also known, is a unique line of business. After all, how many other … Continue reading

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Do your homeowners policies cover Social Media ?

There is a good chance that most of an agent’s personal lines customers present some form of social media exposure. If a claim were to develop, to what degree does the homeowners policy afford coverage? Many experts have looked at … Continue reading

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