Magazine

Integrating another agency into your operations presents both tremendous opportunities and significant challenges for employees and management alike.

Drawing on guidance from underwriters, claims specialists, agency consultants and defense counsel, here are a series of quick, practical steps agencies can take to reduce E&O exposure.

Building an independent insurance agency requires not just tenacity and carrier contacts, but the mindset that you’re steadfastly committed to the journey.

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

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.

Natural disasters are becoming more frequent, resulting in significant financial losses and exposing inadequate insurance coverage—including gaps in clients’ insurance coverage that lead to increased errors & omissions claims against agents.

To keep premiums affordable, homeowners carriers are excluding coverage for what used to be standard covered perils. Cosmetic hail damage is one of those coverages that is increasingly becoming excluded.

​Hi, Santa. It’s Brian, your favorite agents and brokers errors & omissions claims handler, writing after a year of diligently navigating the complexities of E&O claims.

In today’s volatile market, independent agencies face various emerging challenges that can lead to significant financial consequences.