E&O

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.

Generally, when consumers feel they are paying more and receiving less in return, problems arise.

At a time when agencies are feeling the squeeze from increasing operational costs and companies cutting commissions, solidifying relationships will help retain clients and protect income.

The agency errors & omissions environment has become more complicated, and the result has led to several implications for independent agencies.

Agency errors & omissions coverage has been impacted by the hard market, with premiums increasing over the past few years, and difficulty in replacing waves of retirees with younger workers.

The increasing number of carrier rating downgrades could present an errors & omissions exposure to independent agents if not properly managed.

A U.S.-based trucking client’s truck and cargo were stolen in Canada, but the carrier denied the claim due to a territorial exclusion. The loss happened “before the insured had a chance to read the policy.”

​One of the largest errors & omissions exposures for insurance agents and agencies occurs during the placement of personal or commercial auto policies.

Builders risk coverage is a necessity for new construction, remodeling or renovation. Your knowledge of the coverage provided, extensions and exclusions is crucial to protect your client and your agency.

Across the real estate E&O sector, six-figure claims against property managers are becoming more typical.