Tag Archives: E&O policy

Does reporting an E&O claim / incident mean your E&O premium will go up?

This is an often asked question and thus obviously an area of concern. Unfortunately, it is not a question that is easily answered as the end result may depend on a variety of issues including the facts and circumstances of … Continue reading

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Does the staff know that the agency has E&O?

Recently, in an E&O class I was teaching, the issue of the agency’s E&O policy came into the discussion. There seemed to be a perception that some of the agency staff questioned as to whether they should be buying their … Continue reading

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4 common misperceptions about Agents E&O

I.     All E&O policies are the same Actually nothing could be further from the truth. You could take the top 20 carriers that write Agents E&O insurance and it wouldn’t be hard to find some major differences among the forms. … Continue reading

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When are you contacting your E&O carrier regarding claims?

Ask this question of most agency execs and it would be common to hear that the E&O carrier is contacted when the agency is served with some type of legal papers, a/k/a summons and complaint. While this is definitely a … Continue reading

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E&O Insights: How Well Do You Know Your Own E&O Policy?

This is an excerpt from an Insurance Journal article that I authored in the February 10, 2014 edition. “As many agents know, there are various standards to which they will be held in the event of litigation. There are also standards … Continue reading

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Your E&O limit – some things you need to know

Traditionally, January 1 has been a common anniversary date for many P&C accounts. Actually for many insurance agencies, this is a very common anniversary date for their E&O insurance. However, whether this is your anniversary date or not, there are a … Continue reading

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What is the right E&O limit ?

This is one of the most common questions that I am asked in my E&O seminars. Unfortunately, it is not an easy question to answer. In fact, in some respects, it is an impossible question to answer. First, it is … Continue reading

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Who is insured under your insurance agency E&O policy?

Do you know who / what is covered as an insured under your E&O policy? There is no doubt that this is potentially a critical issue at E&O claim time so before that claim happens, check your policy carefully. Most … Continue reading

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When was the last time you read your Insurance Agents’ E&O policy?

I hope your answer isn’t “I never have”. As an Insurance agent, there is no doubt that your E&O policy is of critical importance.  While saying that you have E&O is certainly positive, how confident are you that you know … Continue reading

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