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Category Archives: Uncategorized
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
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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
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
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“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
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Questions regarding certificates of insurance
As I have cited in the past, certificates of insurance are causing a fair amount of havoc and resulting in E&O claims as certificate holders rely on the contents of an improperly executed certificate form. Some E&O carriers are indicating … Continue reading
Posted in Uncategorized
Tagged Agents E&O, aggregate limit, Cerfificates of Insurance, Errors and Omissions, General Liability aggregate limits, Impairment of aggregate limits, Insurance agents, Professional Liability
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When Dogs Bite, Home Insurers Pay Average $32,000
As you know, I have dedicated a number of articles to the subject of dog bites and the potential that when coverage is limited or not provided under the homeowners policy, E&O claims can occur. As noted in the attached article … Continue reading
Posted in Uncategorized
Tagged Agents E&O, dogs, e&o claims, Errors and Omissions, Homeowners, Insurance agents
Comments Off on When Dogs Bite, Home Insurers Pay Average $32,000
How often is your agency having staff meetings?
First off, I am not talking about those informal meetings where the manager comes on the floor and asks everyone to gather around for a quick meeting. While those are necessary, it is debatable how productive they are since it … Continue reading
Posted in Uncategorized
Tagged Agents E&O, Blanket additional insureds, Education, Errors and Omissions, Insurance agents, Staff meeting topics
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Retro Date – a key term with professional liability
In evaluating E&O claims statistics, in most situations, E&O claim frequency from the sales and service of professional liability typically generates around 10% of the claims. However if one were to look at the severity (the dollars paid out in … Continue reading
Posted in Uncategorized
Tagged e&o claims, Errors and Omissions, Professional Liability, Retro dates, Retroactive dates
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