Tag Archives: auditing

Celebrate !

When the subject of auditing comes up, some people frown and are probably thinking “why don’t they trust us?”. Auditing is actually a very healthy initiative towards achieving a greater level of E&O compliance. In addition, the staff that are … Continue reading

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Can a “bad” audit score actually be a good thing? Can a “good” audit score be a bad thing?

Two very interesting questions. Without a doubt, Internal auditing within an agency is one of the best initiatives an agency can have in the establishment of a healthy E&O culture. Auditing serves a very vital role to evaluate to what … Continue reading

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A simple approach to start Auditing

While more and more insurance agencies are performing some degree of auditing, there still are a number of agencies that either don’t see the value in auditing or possibly feel that they just don’t have the time or resources to … Continue reading

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Add Auditing to your E&O culture

As President Ronald Reagan was quoted many years, it was very important to trust but it was equally if not more important to “trust but verify”. This is where auditing comes in. Auditing is actually one of the top 5 … Continue reading

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Are you “trusting but verifying”?

When I bring up the issue of auditing to agency owners and management, oftentimes, I hear that there are just not enough hours in the day to handle this function. It is somewhat surprising that some will comment that they … Continue reading

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Communication of audits results to the specific staff member is key

It is probably fair to say that when you mention audits to agency staff members, there will be a slight (or major) expression of fear. After all, who wants to get audited? Very honestly, more people than one might think. … Continue reading

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Celebrate your audit accomplishments

A thorough E&O loss prevention program should involve an audit process of some type. The objective is to measure the results of each employee against certain specific expectations. Oftentimes, this involves the various tasks contained in the agency internal procedure … Continue reading

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Time to perform a year end audit

As we approach the end of January, there is a good chance that most agencies are performing many of their year end calculations and assessments. A review of the premium volume / policy count changes as well as current financials are no doubt … Continue reading

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