In a market where carriers are inundated with submissions, agents can help their product liability clients secure the coverage they need by understanding carriers’ appetite and capitalizing on the opportunities they offer.
To mitigate the risk of an errors & omissions claim, insurance professionals need to approach offering umbrella coverage with diligence and consistency.
Proactive conversations with clients about catastrophe risks can surface potential coverage gaps and open the door to more forward-looking planning.
Agents must strike a balance between recommending suitable coverage and refraining from providing opinions on whether specific losses are covered under a given policy.
