"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...
The holidays are truly a special time of year. For me, it has nothing to do with any presents I receive (I keep telling my kids not to get me anything). It is about the quality time spent breaking bread and sharing stories and memories....
Just over one week ago, 30 years back in 1992, a historic event occurred that impacted the insurance industry. If you google this date, this event will likely not appear. What happened on this date in history? On this day in history, December 3, 1992, the first...
When going to market for a particular line of business, it is common for an agency to get multiple quotes. Based on feedback from the various agencies I am honored to work with, the premiums on those quotes can often vary drastically. So, with that...
With current market conditions, many E&O Plus agencies indicate during their annual reviews that they are in greater need of the E&S market. A key issue to note when using E&S carriers is their greater flexibility and freedom on rate and policy form. In other...
At this time of year when we truly give and express our thanks, I would like to personally thank E&O Plus for giving me the opportunity to work with so many great insurance professionals and super nice people. To all of the great staff of the E&O Plus...
Curtis M. Pearsall, CPCU, AIAF, CPIA President – Pearsall Associates Inc. When some think of Excess & Surplus Lines business, Lloyd’s of London might come to mind. Lloyd’s has had a foothold in the E&S business since its founding in 1688. It also had a major role...
Curtis M. Pearsall, CPCU, AIAF, CPIA President – Pearsall Associates Inc. With the holidays fast approaching, there is a good chance that many of your agency clients are busy checking off all the boxes on their Christmas lists and buying some nice toys for their kids and...
Most agencies handling Construction accounts will need to provide a Surety Bond at some point. For those agency staff that may not be familiar with Surety Bonds, they are basically an agreement between three parties: Principal, Surety, and Obligee. The Surety provides a financial guarantee to the Obligee (i.e.,...
It is interesting how often this question comes up in my discussions with insurance agents. I am not sure exactly why, although I certainly hope this is not a reason (or an excuse) why some agency personnel would choose not to pursue one of the...