In my travels to many of the great E&O Plus agencies, I typically sit down with some agency staff: the internal support staff, the producers, and agency management. As we talk through the issues that play a key role in the E&O culture of the agency,...
This is the time of year when there is typically more news regarding carrier ratings as rating agencies review the 2021 financials of most P&C and L&H carriers. Already, there have been some announcements dealing with carriers doing business in Florida, with some of those...
Today, certainly more so than in the past, as agencies look to expand their value-added services, they are providing some degree of loss control/risk management services. As one can imagine, this brings with it heightened E&O claim potential. While the number of E&O claims arising...
It is interesting that there are E&O claims involving carriers suing one of their agents every year. Yes, the carrier is suing their agent, and with the right set of facts, they are winning! While this may be a surprise to some, this has been...
For many years, I have been tracking the impact on the insurance industry from dog bites, and virtually every year, the impact grows. As noted in this excellent article published by the Insurance Information Institute, in 2020, dog bites and other dog-related injuries accounted for $854 million. That...
Would you probably agree that from time to time, conversations between the agency and your customers (whether on the phone or face to face) do not go as planned? There are a whole host of issues that could prompt a customer to become very agitated...
This issue seems to be one of the more questioned procedures in agencies. Should the agency follow up on non-pay notices or not? While I don’t have any exact numbers on what percentage of agencies are performing this task, I would guess upwards of half...
Now that we are in a new year, this is a common time for agencies to seriously consider their record retention schedule with plans to destroy some files that are no longer necessary. Most agencies have a set position on this. If your agency does not,...
While independent contractors have their role and can make major contributions to an agency, they can also be your biggest headache. For this reason, there needs to be strong management of these folks to ensure, among other things, that they are handling the various tasks following...
Imagine that you are looking to insure a nail salon (there is a specific reason why I am picking this type of business). You meet with the owner, and as expected, liability limits come up. This business has enjoyed a positive loss experience and currently...