Tag Archives: documentation

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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Moving coverage to a new carrier – here’s an example what can happen

The backdrop on this E&O claim involves an account the agency had to replace due to the prior policy being non-renewed as it was no longer within the carrier’s appetite. Although this was a tough account, the agency was able … Continue reading

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What do you do when one of your carriers is downgraded?

Within the next 3 – 4 months, the various rating agencies will be looking at the financials for the vast majority of insurance carriers. In the overwhelming number of situations, the rating will not change but what if it does? … Continue reading

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Are you outsourcing your policy checking?

It is fair to say that in many agencies, policy checking probably does not get the attention it deserves. It is not that agencies don’t value the importance of policy checking (although some do not), it just seems that there … Continue reading

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Record Retention – what’s the right number ?

How long should an agency retain their records? While this seems to be one of the most often asked questions, it is also one of the most debated. I have seen articles written expressing opinions that due to current technology, … Continue reading

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How easy is it for you to locate “all” of the information on an account?

A problem has just occurred and your boss indicates that they want to see you in their office right after lunch with all of the information pertaining to the file. How easy will it be for you to locate “all” … 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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