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Category Archives: Uncategorized
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
Posted in Uncategorized
Tagged Agents E&O, Agents E&O policy, Carriers suing agents, e&o claims, Honesty, Insurance producers
Comments Off on Carriers will sue their agents?
“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
Posted in Uncategorized
Tagged Agents E&O, Education, Errors and Omissions, Stated Value vs Agreed Value, Valuation
Comments Off on “Stated value” vs “Agreed Value” – aren’t they the same?
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
Posted in Uncategorized
Tagged Agents E&O, Boat Insurance, Education, Homeowners, Insurance agents, Stand alone vs HO, Watercraft
Comments Off on Is coverage for watercraft sufficient under a HO policy?
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
Posted in Uncategorized
Tagged Agents E&O, Agents E&O policy, definition of a subpoena, documentation, e&o claims, Errors and Omissions, subpoena
Comments Off on How does your E&O policy address “subpoenas”?
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
Posted in Uncategorized
Tagged Agents E&O, e&o claims, E&O culture, Errors and Omissions, Frequency, Severity
Comments Off on Frequency down; Severity up
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
Posted in Uncategorized
Comments Off on Happy Thanksgiving to all !!
Are you making notes on your proposals?
Typically, when producers review the proposal with the prospect / client, as the discussion evolves, and decisions are made, the producer will make notes on the proposal. The notes could involve requests for additional information, coverages accepted / rejected, etc. … Continue reading
Posted in Uncategorized
Tagged Agents E&O, documentation, e&o claims, Insurance producers, Insurance proposals
Comments Off on Are you making notes on your proposals?
“I’m the expert on insuring…….”
In my posting of September 5th, the issue of the legal standard was addressed. This is the basic standard that largely shapes the final resolution of most E&O litigation. There is, however, an element entitled “special relationship” that has the … Continue reading
Posted in Uncategorized
Comments Off on “I’m the expert on insuring…….”
Have a great Thanksgiving holiday !
For 41 years (and counting), I have been blessed to work in this great business. As I reflect back on those 41 years, there are many things that have made this business very special. #1 is you, the people. I have … Continue reading
Posted in Uncategorized
Comments Off on Have a great Thanksgiving holiday !
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