Rubber Hits the Road: Does a Tire Recycling Company Need Pollution Coverage?
A prospect has a pollution policy in place but doesn’t know if it’s necessary. Its current general liability policy excludes products-completed operations coverage.
E&O Loss Control
What’s Driving the Rise in E&O Claims and What Can Your Agency Do to Prevent One?
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.
Should an Agency Record Phone Calls With Insureds?
What is the current best practice for storing those recordings in an agency management system (AMS)?
Should a Disclaimer Be Added to an AOR Letter?
An agency is considering adding language to its agent of record (AOR) letter advising that the agency is not responsible for any deficiencies that exist in the coverage until it has a reasonable chance to review the coverages.
Should Agencies Keep Both Paper and Electronic Copies of Files?
How does keeping two sets of files impact errors & omissions exposure?
How Often Should an Agent Reoffer Declined Coverage?
If a customer declines coverage, how long does their declination stand for?
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.
Should an Agency Inform Insureds of Cancellations for Nonpayment?
Should agents let the insured know and track down the premium past due or just let the policy lapse?
