Monthly Archives: February 2016

“He said, she said”

If I only had a nickel for how often this phrased has been used over the years. What does it mean? This is a very common phrase used on Agents E&O cases (among other legal matters) when both of the … Continue reading

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What is your procedure when one of your carriers rating drops?

Typically during the next several months, the various financial rating agencies will be reviewing the 2015 financials from most of the insurance carriers, including the majority of the P&C and L&H carriers. Historically for each year this vital process has … Continue reading

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What is the level of consistency in your agency?

Consistency is actually a very important word in the world of Agents E&O. If you were sitting around a table with 4 of your colleagues and the subject of a particular procedure came up, what is the chance that you … Continue reading

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Does your agency provide “casual quotes” ?

What do I mean by casual quotes? These are quotes that are provided to walk-in accounts or “prospects” that call the agency, essentially just looking for a number. The exposure could be personal or commercial. Their goal is to secure … Continue reading

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Moving an account to a new carrier? Something you NEED to know!

2015 is now firmly in the books and based on some initial analysis, it appears that 2015 continued a number of trends from 2014. E&O frequency (the number of E&O claims per 100 agencies) continues to be in excellent shape although … Continue reading

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Getting a signature is more than just getting a signature

While that may sound somewhat confusing, there really is a fair degree of truth to the statement. E&O manuals and E&O seminars historically will stress the importance of securing the signature of the client on the appropriate applications. This is … Continue reading

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Can your customers buy their insurance from you on-line?

Recently, there have been many articles written about the issue of new entrants into the digital age of insurance applications. Many of those articles have referenced that while this is a significant threat to the independent agent, many independent agents … Continue reading

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Broker of Record issues

The insurance industry has been dealing with Broker of Record situations since the beginning of time. Unfortunately, it has also been dealing with E&O claims from Broker of Record situations since the beginning of time. Taking over an account via … Continue reading

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