People are growing up in a world where their primary forms of communication include texting, Snapchat and Instagram. Unfortunately, with these forms of communication, agencies open themselves up to significant potential exposures.
It shouldn’t be news to anyone that technological advancements are shaping the world around us. But because new technology changes the way we live, work and play, independent agents need to keep up to date.
Without a doubt, purchasing or selling an insurance agency triggers additional errors & omissions exposure. What processes can successful agencies employ during a transition in order to help reduce their exposure to E&O claims?
Errors & omissions claims happen, and many of the worst ones—those in excess of $1 million—come from the same lines of business and involve similar types of errors.
Here are 10 suggestions for new agents that can help reduce your errors & omissions exposure.
Roman philosopher Seneca once said, “Luck is what happens when preparation meets opportunity.” This notion can do wonders for your agency.
A good checklist includes coverage choices as well as optional coverages a client might want to accept or reject.
After a flood event, numerous flood-related claims are turned in on insurance agents errors & omissions policies. While some of these claims are justified, a great number of them are due to lack of flood coverage.
Dealing with high net-worth clients is not the same as dealing with your other clients.
As 20th-century writer and philosopher George Santayana famously declared, “Those who cannot remember the past are condemned to repeat it.” No argument here. Insurance underwriters and claim managers share the conviction that the surest way to predict the