Monthly Archives: October 2014

Does your documentation include abbreviations?

During the course of every day, producers and CSRs / account managers will be faced with the need to document the various client / prospect conversations. This can certainly be a challenge regardless of whether the conversations are face-to-face or … Continue reading

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Exposure Analysis Checklists in Commercial Lines

This is an excerpt from an Insurance Journal article that I authored in the October 20, 2014 edition. “For the last 25-plus years, the No. 1 cause of errors and omissions (E&O) claims has been “failure to provide the proper coverage.” … Continue reading

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High-Tide Floods to Triple for Some East Coast Cities, Study Finds

The following is an excerpt from a very interesting article that appeared on on October 8. “Flooding during high tides, which used to be rare, is now common in some places and could worsen to the point that sections of … Continue reading

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When was the last time you updated your procedural manual?

It seems that the issue of procedural manuals receives a fair amount of discussion at most E&O classes and that is for good reason. Many advocate doing away with the manual since it is a discoverable document at the time … Continue reading

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Are you dealing with more wholesalers than you need?

Whether in hard market or soft, dealing with wholesalers is an integral part of the normal work day of most agencies. Through their knowledge and expertise, wholesalers can provide agents with the ability to handle those coverages that the standard markets … Continue reading

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What can happen when you exceed your carrier’s binding authority

Recently in a class that I had the honor of teaching, I was asked a very unique question…actually one that I had not previously been asked. At the time, we were discussing the vital importance of being honest with the … Continue reading

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Looking to buy or sell an agency? Are you factoring in the E&O issues?

It seems that every day, insurance news providers are reporting on insurance acquisitions. There are many issues involved for these agencies and others in the acquisition mode but one issue that does not seem to get the attention it deserves … Continue reading

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What insurance activities are covered by your E&O policy?

If you were to ask most agency owners this question, there is a good chance that some may indicate that they are not sure because they haven’t read their policy. In actuality, this is one of the key areas of … Continue reading

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