Tag Archives: documentation

What is your 2018 E&O goal?

Virtually every agency establishes goals and objectives they plan to accomplish with most of those goals probably dealing more with premium volume, new business, income and expenses. While the establishment of these goals is important, serious consideration should be given … Continue reading

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Hey Producers – how good is your note taking?

In virtually every agency, producers / sales staff play an integral role in the current and future success of the business. Producers are typically responsible for new business sales and retention of accounts, especially the medium to large accounts. In … Continue reading

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How many clients are using texting to communicate with your agency?

If an agency were to know this number for each of the last 2 years, there is no doubt that they would be seeing an increase. Whether your agency wants texting to be a way clients communicate with you or … Continue reading

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Trusting your clients – what’s the worst that can happen

Your agency has a customer that owns a number of dwellings covered under a master policy. One day, your client contacts your agency to cancel coverage on one of the covered locations since the property had been sold. The coverage … Continue reading

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Moving a book of business to new carriers – a potential HUGE E&O issue!

Virtually every day, agents will move an account to a new carrier. Typically, the basis for the move is due to the desire to get a lower premium for the client. This issue has developed into one of the bigger … Continue reading

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Are you inputting the information correctly?

As one could certainly imagine, the completion of the app to secure coverage is critical. Specifically, the data and the information on that app are the key elements. Whether the application is completed on-line or otherwise, the carriers are implicitly … 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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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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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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