For most agencies, a Broker of Record (BOR) is a common way of attracting new business. This can come from your expertise in identifying some uninsured exposures or because the client outgrew the expertise and capabilities of their current broker. When you successfully secure an...
No doubt these few words can bring about some powerful emotion, and the odds are that emotion will differ from hearing the words “Great Job” or “I love your agency.” Unfortunately, these words threatening legal action have been said more than once or twice. How do...
In the life of an independent agent, there is typically significant quote activity on personal lines, commercial lines, and employee benefits. A solid E&O best practice promoted for many years involves getting the customer/prospect to sign off on those coverages not wanted. This practice is...
Are your companies sending the policy direct? There is no doubt this is occurring more often today than in the past in both Personal and Commercial Lines. For agents, this has probably resulted in some expense and time savings since you no longer have to...
One of the main goals that Angie, Mishell, and I work with you on is heavily focused on avoiding E&O claims from happening, or if they do happen, the agency's defense has been strengthened to increase the odds of the agency prevailing. After all, the...
It certainly seems with increasing frequency the number of insurance articles that speak to a recent court decision and the judgments being awarded. Actually, some courts have awarded the plaintiff more than they were even asking for with some staggering numbers. Some refer to this...
This blog post was written by Benefit Comply with permission to reshare. It is not uncommon for brokers to wonder if they are acting as business associates for their employer clients, and if so, what their compliance obligations are in this role. In general, a business associate...
There is no doubt that life at the agency side of the business is hectic, with no signs of slowing down any time soon. It is very easy to have an element of "trust" on many issues that producers and CSRs deal with daily. One...
I recently noticed this key coverage decision in an August 12 issue of Claims Journal. Without a doubt, it raises some serious questions that agencies would be wise to consider building into their agency procedures. Before I address some of the questions, please take a minute...
A significant piece of this blog is a repeat of the blog posting done in mid-2021. It seemed appropriate to repost this 1) to get the message out to those that quite possibly didn’t see it the first time and 2) because it continues to...