Agency Operations

A COVID-19 hangover. The hard market. The movement of policies from the admitted market to excess & surplus lines. Whether a single factor or a combination is to blame, one thing is certain: Errors & omissions claims are on the rise.

A number of agent errors & omissions claims have been reported as a result of an insurance agent procuring coverage in an area in which they have little or no expertise.

On this episode of Agency Nation Radio, Peter van Aartrijk, executive vice president with insurance branding firm Aartrijk, hosts a discussion on best practices when making an agency acquisition—whether it’s your first purchase or just your most recent acquisition. 

A contractor with an ISO commercial general liability policy experienced a property damage claim. The carrier says it owes the actual cash value (ACV) for repairs but the agent believes the carrier owes the full cost to repair.

As wildfires, tornadoes and floods continue to disrupt the lives of millions across the U.S., our industry must face a hard truth: The current insurance purchasing journey often fails both consumers and the agents trying to serve them.

While no one enters marriage with the prospect of divorce, it happens and can wreak havoc on an agency both operationally and strategically.

A subcontractor called the general contractor and told him he moved a water supply line, after which a leak occurred. The sub filed a claim, but now denies he ever touched the supply line. The sub’s carrier won’t follow through with the claim.