Monthly Archives: February 2018

Frequency down; Severity up

Going back to the late 80s (when I first started in an E&O management position), the frequency numbers were off the charts (but not in a good way). Frequency (a measure of the number of E&O claims as a percentage … Continue reading

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When selling the agency, how long of a “tail” should I buy?

You may be thinking that this is not an issue you need to worry about as you have no plans to sell your agency. While that certainly may be true today, there just may come a point where selling your … Continue reading

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Would you believe 1 in 10 contain an error?

How many insurance policies (personal and commercial) does your agency write? Let’s use for our example an agency that has 10,000 policies. Using 260 work days calculates to just short of 40 policies a day being sent out to customers. … Continue reading

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Is this insurance product on your exposure analysis checklist?

What’s the product? Product Recall insurance. According to an analysis that was done by Allianz Global Corporate & Specialty, “defective product-related risk is the single largest driver of liability claims” with losses from product recalls being the major contributor. Losses … Continue reading

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