Monthly Archives: March 2015

E&O Insights: Do You Have Clients That Will Be Buying or Selling?

This is an excerpt from an Insurance Journal article that I authored in the March 23, 2015 edition. “While most agents are aware that mergers and acquisitions are hot topics in the world of insurance agencies, insurance is not the only segment of … Continue reading

Posted in Published articles | Tagged , , | Comments Off

Ethics: is it the same as E&O loss prevention?

At one time, I wondered why many, if not all state insurance departments, didn’t allow an E&O class to count towards the state specific ethics requirement. After all, doing the right thing in many cases is both ethical as well as … Continue reading

Posted in Tips | Tagged , , | Comments Off

The power of insurance periodicals

When you stop and think about it, I trust that you would agree with me that the insurance industry is blessed with a tremendous number of quality insurance periodicals. I regularly subscribe to 6 or so (some digital, some hard copy) … Continue reading

Posted in Tips | Tagged , , , , | Comments Off

What do you want your reputation to be?

“If you tell the truth, it becomes a part of your past. If you lie, it becomes a part of your future” – Unidentified author. Talk to most Agents E&O carriers about the type of E&O claims they experienced in … Continue reading

Posted in Tips | Tagged , , , , , , | Comments Off

Job Descriptions – how current are they in your agency?

Essentially job descriptions are designed for the staff to know what is expected of them and what their duties and responsibilities are. In addition, since professional development is extremely important for the growth of an agency, job descriptions should also address … Continue reading

Posted in Tips | Tagged , , | Comments Off

How often is your agency having staff meetings?

First off, I am not talking about those informal meetings where the manager comes on the floor and asks everyone to gather around for a quick meeting. While those are necessary, it is debatable how productive they are since it … Continue reading

Posted in Uncategorized | Tagged , , , , , | Comments Off

The manner in which you handle claims can cause E&O claims

Ask any E&O carrier for those areas that generate E&O claims activity and you may be surprised to hear that the manner in which your agency handles claims is a major cause. For many E&O carriers, this issue is currently generating 10-20% … Continue reading

Posted in Tips | Tagged , , , , | Comments Off

Retro Date – a key term with professional liability

In evaluating E&O claims statistics, in most situations, E&O claim frequency from the sales and service of professional liability typically generates around 10% of the claims. However if one were to look at the severity (the dollars paid out in … Continue reading

Posted in Uncategorized | Tagged , , , , | Comments Off