Tag Archives: Errors and Omissions

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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Policy Delivery – what is the best way to handle?

The proper handling of policy delivery is actually an important element in an E&O loss prevention program. Because of this, insurance agencies should have a written agency procedure to follow. For many agencies (more specifically the producers), the procedure is … Continue reading

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Attend an E&O seminar in 2017

There are a variety of opportunities to enhance the E&O culture of individuals and the agency as a whole. Most of the industry magazines have a column dedicated to the topic and with few, if any exceptions, the articles are … Continue reading

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When buying E&O, limits should be the primary focus

Imagine the scenario, your agency has just been advised that you are being sued in an E&O matter. Would you rather have $1,000,000 limit of liability and a $1,000 deductible or a $2,000,000 limit and a $5,000 deductible? I would … Continue reading

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Court Finds No Coverage for Credit Card Breach under BOP

The following cited an interesting legal case that was noted in the IRMI newsletter of Nov 16th. “Demonstrating the importance of liability coverage for cyber-claims, an Alabama federal court found that a grocery store was not entitled to a defense under a … 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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