Should Agencies Keep Both Paper and Electronic Copies of Files?
How does keeping two sets of files impact errors & omissions exposure?
Agency Operations
Can a Dissolved Business Still Insure Vehicles on a BAP?
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?
Additional Insureds on a COI: Is the Word ‘Blanket’ Misleading?
What is the proper wording to reflect additional insureds on certificates of insurance (COIs)?
How Often Should an Agent Reoffer Declined Coverage?
If a customer declines coverage, how long does their declination stand for?
Should Your Agency Rely on a Carrier Portal to Access a Policy?
What is an agency’s responsibility or best practice regarding maintaining an electronic copy of the full policy document in their agency management system?
What Can an Unlicensed Employee Discuss with Clients?
What are the restrictions an unlicensed employee has when talking with an insured? Is coverage the only thing they cannot discuss?
Who is Authorized to Sign Certificates of Insurance?
Must the person signing a certificate of insurance be licensed in all the states where the insured has exposure? Or must the signatory be someone with internal agency authorization?
Should Agencies Offer Business Reopening Advice?
An agency has several clients that are nonprofit private swimming pool clubs. They are looking to the agency for help to reopen safely, including advice with waivers and standard procedures.
Should an Agent Report a Claim They Heard About on the News?
An insured is under scrutiny by media and news outlets for what reporters are alleging is improper employee terminations. If the insured’s agent sees the news, is there any duty on the agent’s part to report the potential claim to the insurer?
Insuring a $25 Million Building for $1 Million: E&O Waiting to Happen?
A prospect bought a warehouse for $1 million. The replacement cost is $25 million but the owner only wants to protect their investment and has said they wouldn’t replace the building in the event of a total loss.
