Monthly Archives: March 2016

When in doubt, contact your E&O carrier

Each week, I receive calls from agents around the country with questions regarding some potential E&O issues they are dealing with. Oftentimes, the scenario includes a customer that has had a claim only to find out their coverage is not … Continue reading

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Is Technology the reason why E&O claims are down?

Over the last 10 years, many of the E&O carriers have seen claims frequency continue to decline. In fact, many are reporting claims frequency in the 6% area which essentially correlates to one claim for every 17 agencies. Going back … Continue reading

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Survey Shows Many Americans Fine with Lying to the IRS, or Their Insurer

Very honestly, I am not surprised by the survey results cited in this interesting article by Don Jergler that appeared on insurancejournal.com on March 15th. “Customers Lying” is an issue that agents have been dealing with for many years. However now that … Continue reading

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Upcoming Speaking Engagements

As veterans of the industry, we would all probably agree that the youth are the future of our industry. It is incumbent on all of us to encourage our young adults to pursue a very rewarding career in the insurance … Continue reading

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Mergers and Acquisitions – a potential E&O exposure?

I recently read a National Underwriter article dealing with Mergers and Acquisitions. The primary focus of the story dealt with the record year for M&A activity of insurance agencies. In fact, the new record broke the old record (just set the prior year) … Continue reading

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Does educating your customers reduce E&O claims?

Each year, the number one allegation in E&O claims involves “Failure to provide the proper coverage”. In other words, a client has a loss and the loss is not covered at all or not covered to the satisfaction of the … Continue reading

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Wouldn’t it be nice to have “mulligans” in E&O?

With golf season on the horizon (even in Utica), the subject of “mulligans” is sure to come up. A mulligan is a “do-over.” If a casual golfer (not a pro) hits a bad shot, he or she can call a … Continue reading

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The key ingredient in Agents E&O

Developing and maintaining a healthy Agents E&O culture is like cooking (although cooking is definitely not my specialty). It typically takes a lot of ingredients to make a great meal but what is the one ingredient many people claim to … Continue reading

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How many cars on the road have only the minimum state required limits?

Unfortunately, I don’t have the answer to this question but I would have to believe that it is a higher number than we would like to believe. Actually, in a study done in 2014, it was indicated that 12.6% of … Continue reading

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