Author Archives: Curt Pearsall

Do the wholesalers you use have E&O?

Probably over the last month or so, insurance agencies have received letters from their wholesalers / MGA’s, etc. requesting evidence that your agency has E&O insurance. They will typically require a certificate verifying this coverage. Ironically, it has not been … Continue reading

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Are you holdings your customers accountable?

Is lack of customer accountability an issue in your agency? Do you have agency staff  asking the question – “why do customers always make us feel like it is our fault when they have a loss that is not covered? … Continue reading

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Does reporting an E&O claim / incident mean your E&O premium will go up?

This is an often asked question and thus obviously an area of concern. Unfortunately, it is not a question that is easily answered as the end result may depend on a variety of issues including the facts and circumstances of … Continue reading

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Picking an E&O carrier

For insurance agencies, your E&O protection is one of the most important coverages your agency will purchase. Without the proper protection, a significant E&O claim could prompt the agency to go out of business. So, the selection of where you place … Continue reading

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Comparing expiring vs proposed

For many years, E&O carriers have expressed significant concerns over the issue of what many call “The Mirror Test”. Essentially, this is the need for a process within agencies to compare coverages when they are moving an account from one … Continue reading

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Documenting discussions you have with your markets

When the subject of documentation comes up, typically the mindset involves documentation of discussions with your prospects / clients, etc. A good documentation policy in an agency would certainly address these circumstances. However, for some reason, documentation of discussions with … Continue reading

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Did the carrier quote all of the coverages you requested?

In the preparation of the application for submission to the marketplace, agents will typically include coverages they are looking for the carrier to include in the proposal. As the producer, you are expecting that the markets you are working with … Continue reading

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Agency Loses in Huge Workers Comp E&O Claim

For most E&O carriers, the workers compensation line of business accounts for 8-10% of all E&O claims. Definitely not a small number. As noted by the attached which appeared on AgencyEquity.com on April 11, 2017, claims involving workers compensation can also … Continue reading

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“I told you I wanted the coverage”

When explaining the need for prompt and accurate documentation, it is important to understand the “why” behind the issue. For many folks, this is when they are able to truly “buy-in” and do what is needed. A big reason behind … Continue reading

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The latest in Dog Bites statistics

As noted in the attached excellent article published by the Insurance Information Institute (www.iii.org), dog bites and other dog-related injuries accounted for more than one-third of all homeowners liability claim dollars paid out in 2016, costing in excess of $600 … Continue reading

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