Category Archives: Uncategorized

E&O, D&O, Cyber and EPL – what do they have in common?

The one major issue they all have in common is that there is no uniformity in the various carrier policy forms. Each carrier has their own issues which makes them different. The difference could be a good thing…it could be … Continue reading

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Quality Customer Service can help your E&O loss prevention culture

Think back to a recent situation where you encountered a problem in your personal life. Possibly the issue involved the product you purchased or the service you were provided. Now think back to how the person you were dealing with … Continue reading

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Does the staff know the expectations for documentation?

Let me ask you a question: Has your agency experienced periodic issues with the timeliness and quality of documentation? Is there inconsistency among the staff (including the producers) in when and how some things get documented? This is a very … Continue reading

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Consent to settle clause – is it getting a bad rap?

Do you know what the consent to settle clause in an E&O policy is commonly referred to? The Hammer clause. The hammer that when the agency does not want to agree to what the E&O carrier believes they can settle … Continue reading

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Carriers will sue their agents?

The answer is yes. They will and actually this has been a part of the E&O world for many years. Recently, I was reviewing E&O policies from a number of carriers. I am always looking to see what coverages are … Continue reading

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“Stated value” vs “Agreed Value” – aren’t they the same?

No, they are not. Which one is better? Let’s take a look… Here is the traditional definition of “Stated Value”: “In the event of a total loss we will pay the Stated Value or the Actual Cash Value, whichever is … Continue reading

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Is coverage for watercraft sufficient under a HO policy?

Now that it looks like winter is over and we are going right to summer, you might have some clients looking to put their boats in the water for some fun and relaxation. When insuring watercraft, there are typically a … Continue reading

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How does your E&O policy address “subpoenas”?

One only needs to access the news on virtually a daily basis to hear the reference to a subpoena. It is vital that agencies (especially management) be aware that the word subpoena can find its way into the insurance agency … Continue reading

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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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Happy Thanksgiving to all !!

For 43 years (and still going strong), I have been blessed to work in the insurance business. From my early days as a door-to-door salesman to the 6 years at an agency to the carrier side to today, I can … Continue reading

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