I was reading a 1990s article the other day, and I wasn't 25 words into the article before a statement caught my attention in a very negative way. The first words in print were: "As insurance practitioners, we make sure our clients have proper liability coverage...
Please put your thinking hat on regarding this question, and promise me you won't cheat by looking at the answer further in this article. The question again is: Which area generates more E&O claims – new business or renewal business? Let's look at some of the...
According to the U.S. Census Bureau's current (2024) divorce statistics, one divorce occurs every 30 seconds. If that trend continues throughout the remainder of this year, that will result in over 900,000 divorces in the U.S. in 2024. Despite the trend being on the downswing after having...
I initially thought of a different title for this blog: Is everyone pulling their own weight? Face it — every division in every agency consists of teams. The teams may consist of two staff members or many more. So, the bottom line is that teams...
This year marks 40 years since the futuristic time setting of George Orwell’s classic 1984. Originally published in 1949, it is amazing that there was a book with the main theme of “one’s actions and intentions are being monitored by the government as a means...
Would you agree that you have finite resources at the end of the day? So, take the scenario of being asked to work on some nice new business opportunities. They will take some time to handle properly. Could the time needed for the new business...
For those of you who interact with one of the three reviewers (Angie, Mishell, and myself) during the annual review or in other settings, this statement (wanting to be part of your team) is a significant element of who we are and our objective. You...
Without a doubt, you all know the drill. The client (or prospect) advises you they want the coverage, and now it is up to you / your agency team to advise the appropriate parties (carriers, wholesalers). It should also be part of the process to...
This is likely a frequent question asked during your annual E&O Plus reviews. Even in 2024, the majority of the time the answer is "no." I believe most agencies don't know how often communication between the client and the agency is done through text messages....
Over the last number of years of this E&O Plus blog, the issue of legal duties has been addressed from various perspectives. After all, the basic premise of E&O is focused on legal liability. In other words, just because the client suffered an uninsured loss...