Tag Archives: Mirror Test

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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Policy checking – a key final step when moving coverage

Consider the following E&O scenario: An agency looks to move one of their accounts from company A to company B. In the placing of the coverage with company B, one of the coverages (that was on the company A policy) … Continue reading

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Moving an account to a new carrier? Something you NEED to know!

2015 is now firmly in the books and based on some initial analysis, it appears that 2015 continued a number of trends from 2014. E&O frequency (the number of E&O claims per 100 agencies) continues to be in excellent shape although … Continue reading

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Are you including this procedure when you replace coverage for a client?

For many agencies, this happened once or twice (or more) this past week. Regardless of the insurance cycle we are in, every agency has customers that are extremely premium conscious and don’t want to pay more for their insurance than … Continue reading

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What type of comparison did you perform on the account you moved yesterday?

With the current insurance market and the economy, you probably have a few customers that are looking for some savings on their insurance program. Based on that, let’s presume that your agency decides to remarket and move the account. My … Continue reading

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Dissection of an E&O claim

Oftentimes, it is easier to learn by seeing the “errors and omissions” of someone else. Let’s take a look at the following E&O claim and identify what the agency did well and what they could have done better. In this … Continue reading

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Is your insurance agency passing the Mirror test?

In reviewing some year-end E&O results, it certainly appears that carriers are seeing an increase in E&O claims arising from failure to provide the Mirror Test. What exactly is this? As customers have been looking for pricing reductions in recent … Continue reading

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Agents E&O Frequency on the rise!

With 2011 in the books, many Agents E&O carriers are reporting that E&O claim frequency is on the rise. While some of this was projected as it would be hard to improve upon some stellar results over the last couple … Continue reading

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Where is Agents E&O claim frequency going in 2012?

Although this is a question I am often asked, it is not an easy question to answer as there are a number of issues that could determine the result. While some E&O carriers are still experiencing solid frequency results from their E&O book, … Continue reading

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