Tag Archives: Insurance agents

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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What is the value your agency puts on staff education?

When one thinks of the key pieces of a quality agents E&O prevention program, typically topics such as documentation, exposure analysis checklists, confirmation of client insurance decisions (purchases and rejections) and policy review all come to mind. And they are … Continue reading

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Picking an E&O carrier

For insurance agencies, your E&O protection is one of the most important coverages your agency will purchase. Without the proper protection, a significant E&O claim could prompt the agency to go out of business. So, the selection of where you place … 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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Top 10 Causes of Liability Losses Include Bedbugs, Crashes and Defective Products

Many E&O carriers report that E&O frequency is in very good shape but continue to express concerns on the severity of the E&O claims being reported. Quite possibly, one of the reasons why E&O claims are rising in size is … Continue reading

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Does your “new” client ever change their mind?

You got the order for the business, taking it away from one your competitors. You proceed to advise the applicable carriers that coverage is to be bound and binders are issued and delivered to the insured and the various mortgagees … Continue reading

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Enhancing your E&O culture one person at a time

For many agencies, establishing or enhancing an E&O culture can be somewhat of a daunting task. Issues such as “where do I start” and “what should we do next” are common. Other issues such as “they know what their job … 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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Claims-Made – do your clients know the definition of a “claim”?

For those policies written on an “occurrence” basis, it is fair to say that most clients have a good idea of the definition of a claim. However, there are several coverages written on a “claims-made” basis including professional liability, employment … 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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