Monthly Archives: April 2014

Some tips to keep the residual / E&S market from being an E&O concern

Most agencies will need to utilize the residual / E&S market from time to time. Whether the account is one that is tough to place or a coverage such as flood insurance, dealing with these markets is much different than … Continue reading

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Is your E&S proposal an “indication” or a “quotation”?

Whether the marketplace is hard or soft, the E&S industry plays a very important role. However, in a harder market when the submissions are typically pouring in to wholesalers, the wholesaler often times look to “triage” their accounts. Essentially what … Continue reading

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What type of comparison did you perform on the account you moved yesterday?

With the current insurance market and the economy, you probably have a few customers that are looking for some savings on their insurance program. Based on that, let’s presume that your agency decides to remarket and move the account. My … Continue reading

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Is your agency “all in”?

In a webinar that I conducted the other day, I included a polling question dealing with an agency’s E&O culture and commitment. The question was: Assuming your agency’s E&O culture and commitment is stronger as compared to 5 years ago, … Continue reading

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Are you providing certificates on your E&S business?

Let’s take the scenario that your agency customer asks for a certificate. Most of the business is with your standard agency markets but some of the policies are written through one of your wholesalers. When you complete the certificate, what is … Continue reading

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Do some of your watercraft customers know the benefits of a separate policy?

Now that the warm weather has arrived, your agency will probably have customers looking to get their boats in the water. How are those “toys going to be insured? Even if the watercraft is eligible for coverage under the homeowners … Continue reading

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Does “Obamacare” present some E&O concerns ?

There has been volumes written about the PPACA (Patient Protection and Affordable Care Act) but for agents and brokers, I am not sure that there has been a lot written about, what I think is, the increased E&O exposure. First, … Continue reading

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E&O Insights: How Errors & Omissions Liability Policies Respond When Buying or Selling an Agency

This is an excerpt from an Insurance Journal article that I authored in the April 7, 2014 edition. “It’s rare to read an industry magazine or attend an industry conference without the topic of mergers and acquisitions coming up. The issues … Continue reading

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When are your putting the umbrella carrier on notice?

Let’s take the following scenario: You have an insured that has their auto, homeowners and umbrella with your agency and all of these coverages are with the same carrier. The insured is involved in an auto accident where there are … Continue reading

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