In my 37 years entrenched in the world of E&O, I have encountered many agencies that have never encountered an E&O matter. Good for them. This seems to resonate in their minds that addressing key E&O loss prevention issues is not as important. One of...
The bottom line, the answer to that question is an emphatic “Yes, Yes, and Yes.” While most E&O Plus agencies have good practices and procedures, that is not enough. The key unknown is “To what degree are the staff following the stated procedures?” The consistency...
Client accountability. As you have hopefully noticed in many of these blogs, client accountability should be a key element of your agency's culture. To a large degree, it is up to the client what coverage they buy and what they don't. Client accountability is a...
As you receive this week's blog, hopefully, you or some of your colleagues are going to Chicago for the annual E&O Plus Quality Management Seminar. The agenda is packed with many top industry presenters addressing key issues affecting the current marketplace. Built virtually into every...
It is amazing how often I have heard real-life stories about agency staff/producers telling clients they have enough coverage. When one stops and thinks about this issue, as smart as we all are, can we say with 100% confidence that the client has enough coverage...
As many of the E&O Plus agency staff know, I am a big sports fan and tend to use sports analogies to help explain various issues. Recently, I was reading an article on one of my favorite hockey teams that announced a couple of awards:...
I recently had a producer at one of the agencies I am honored to work with refer to his role as a “Doctor of Insurance.” In other words, to address the pain that the insurance prospect was feeling. I had never heard that “Doctor of...
As many of you know, 2023 marks my 49th year in the insurance business (yes, I am that old). Like many of you, I did not go to college for insurance. I was a journalism/communications major, and when my first job (a weekend DJ for...
"Nothing brings out an agent's mistake as quick as a catastrophe" is a common saying in the E&O world. I am not sure who first said it, but I have repeated it hundreds of times because it is true. Think about it. If a customer suffers...
Curtis M. Pearsall, CPCU, AIAF, CPIAPresident – Pearsall Associates Inc. I recently noted the passing of an individual I had the honor of working with back in 1976 in my early days at the agency side of the business (S-Z for CL, PL, and Claims). Don...