Agency Operations

As errors & omissions from post-merger & acquisition missteps rise, here are four ways agencies can reduce exposure after a deal is done.

The rise of AI is poised to transform independent insurance agencies however, increased adoption is prompting essential discussion regarding the errors & omissions implications of its use by agencies.

Does your agency staff feel safe to admit mistakes before they become an errors & omissions claim? One of the worst E&O nightmares is someone hiding agency mail to avoid facing their mistakes.

A manufacturer sold a division of the business. Is discontinued products liability necessary, or will the ongoing CGL cover the liability for the products manufactured and sold before the sale?

To mitigate the risk of an errors & omissions claim, insurance professionals need to approach offering umbrella coverage with diligence and consistency.

Coverage will help medical technology, pharmaceutical, biopharmaceutical and digital health companies with the costs of product-related claims.

Proactive conversations with clients about catastrophe risks can surface potential coverage gaps and open the door to more forward-looking planning.

Agents must strike a balance between recommending suitable coverage and refraining from providing opinions on whether specific losses are covered under a given policy.

Seventy-three percent of independent insurance agencies saw an increase in their agency errors & omissions renewal premium in 2024.

Regular attention must be paid to keeping underlying coverages in place without any gaps, offering higher umbrella limits and recommending uninsured motorist/underinsured motorist coverage.