Should an Agency Record Phone Calls With Insureds?
What is the current best practice for storing those recordings in an agency management system (AMS)?
Strategies
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?
Why Documentation Will Make Sure You Never Speak to an E&O Claims Handler
A well-documented agency file can mean the difference between outright vindication and a murky swearing contest that results in a lawsuit, settlement or both.
Avoiding E&O Exposure When Turning Prospects into Long-term Clients
It is possible to offer a quote without substituting your judgment for your customer’s, which is a leading cause of E&O claims.
4 Terms to Avoid When Advertising Your Insurance Agency
The use of certain words or phrases can suggest an insurance professional is acting as a risk advisor or fiduciary as opposed to the typical arm’s-length business relationship.
How Often Should an Agent Reoffer Declined Coverage?
If a customer declines coverage, how long does their declination stand for?
Why Failing to Upsell Coverages Creates a Lose-Lose Scenario
Offering a new coverage or limit is not the same as recommending, much less choosing it. That choice belongs to your customer.
Why Polling Letters Are Important for E&O
Coverage written on a claims-made basis require key employees to report any incidences that qualify as or may lead to a claim.
Should an Agency Purchase E&O Coverage from an Appointed Carrier?
Before placing errors & omissions coverage with any carrier you are appointed to represent, consider these five factors.
