E&O Risks With Providing Educational Guidance on Online Intake Forms
Where is the line between helping applicants understand a question and improperly influencing or coaching their responses?
Virtual University
E&O Risks of Providing Advice on Real Estate Named Insureds
An agency frequently insures rental properties where the ownership structure is not straightforward. How much guidance should the agent give on how the named insureds should be listed?
Reporting Requirements When PAP and PUP Are Written by Different Carriers
What are the reporting requirements of a liability claim to the carrier that doesn’t write the underlying coverage?
Homeowners Cancellation Request: Do Both Insureds Need to Sign?
The policy conditions for a homeowners policy state that the first named insured is the one who has the authority to cancel an insurance policy. Does that mean that the second named insured is not required to sign?
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.
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?
