Agency Operations

You may not even realize it, but your agency’s website could be exposing you to an errors & omissions claim. Keep these two issues in mind to protect your agency.

Does your agency’s website make promises you can’t keep? Even the most innocuous language could morph into an errors & omissions disaster.

Want to avoid getting a letter from your E&O carrier informing you of an uncovered, excess exposure? When selecting E&O coverage limits, ask—and honestly answer—these questions.

As new risks continue to emerge at a dizzying pace, new insurance products are cropping up constantly. And even a veteran insurance agent can run into trouble placing these new coverages.

Millennials are more likely to purchase, service and modify their insurance online or through other electronic methods. How does the potential for an errors & omissions claim increase with this shift toward a virtual marketplace?

If an insured insists they’re not responsible for a claimant’s allegations, can they refuse to submit the claim to their carrier and advise the claimant to file with their own carrier or pursue legal action?

Knowing what you can and can’t do isn’t rocket science—it’s one of the core pillars of professionalism. Don’t wander into unfamiliar territory with your clients’ property, wealth and reputation.

No one wants to look foolish in a professional setting. But a number of foolhardy practices result in real-life errors & omissions claims against insurance agents.

An errors & omissions claim against an agent can often devolve into the agent’s word against the client’s. Your best weapon against this type of case: documentation of the facts.

Offering insurance packages to protect clients’ various interests comes with inherent risk. That risk increases alongside the client’s net worth.