Monthly Archives: January 2017

Moving coverage to a new carrier – here’s an example what can happen

The backdrop on this E&O claim involves an account the agency had to replace due to the prior policy being non-renewed as it was no longer within the carrier’s appetite. Although this was a tough account, the agency was able … Continue reading

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What do you do when one of your carriers is downgraded?

Within the next 3 – 4 months, the various rating agencies will be looking at the financials for the vast majority of insurance carriers. In the overwhelming number of situations, the rating will not change but what if it does? … Continue reading

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Are you outsourcing your policy checking?

It is fair to say that in many agencies, policy checking probably does not get the attention it deserves. It is not that agencies don’t value the importance of policy checking (although some do not), it just seems that there … Continue reading

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Claims-Made – do your clients know the definition of a “claim”?

For those policies written on an “occurrence” basis, it is fair to say that most clients have a good idea of the definition of a claim. However, there are several coverages written on a “claims-made” basis including professional liability, employment … Continue reading

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Policy Delivery – what is the best way to handle?

The proper handling of policy delivery is actually an important element in an E&O loss prevention program. Because of this, insurance agencies should have a written agency procedure to follow. For many agencies (more specifically the producers), the procedure is … Continue reading

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