Agency Operations

The wave of post-pandemic lawsuits has prompted independent insurance agents to review their errors & omissions (E&O) coverage and risk mitigation strategies.

On this episode of Agency Nation Radio, Owen Thomas, senior account executive at Dial Insurance Agency in Pembroke, North Carolina, shares his experiences from past hurricane seasons and how his agency has applied what it’s learned.

Employees who feel their careers are not growing and developing are less likely to be motivated to do their best work and are therefore more likely to be dissatisfied with their jobs and to leave.

“In the past, E&O coverage for seed dealers has been very cost-prohibitive,” says independent agent Shelly Turner. “Educating both clients and other agents on the availability of a lower cost, higher coverage option is a big focus.”

As your company grows, it’s important to understand that as you add employees, the employment regulations your company falls under change as well.

Reviewing financial statements can be confusing or overwhelming, but spending the time to understand the financial metrics of your agency will help maximize your results.

The insured does not want to cancel the business auto policy nor transfer the vehicles to his personal name and personal auto policy. Could the carrier deny coverage if a claim occurred?

A well-documented agency file can mean the difference between outright vindication and a murky swearing contest that results in a lawsuit, settlement or both.

What is the proper wording to reflect additional insureds on certificates of insurance (COIs)?