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...
Every day, producers and CSRs / account managers will be faced with the need to document the various client/prospect conversations. Whether the conversations are face-to-face or on the phone, this can be a challenge. There aren’t enough hours in the day. Yet, documenting these discussions...
In some of the most recent E&O Plus reviews, I have discussed with some agency staff how they have kids going off to college this month. In some of those discussions, I gleaned that not much consideration had been given to insurance. If insurance people...
A problem has just occurred, and your boss indicates that they want to see you in their office right after lunch with all of the information pertaining to an account. How easy will it be for you to locate “all” of the information? First of all,...
In researching claims frequency in the cyber line of coverage, I found an article by Howden in July 2021 (sorry, that’s the latest I could find) subtitled “Not if, but when.” While the data is from YE 2020, it still displays alarming statistics. The data, supplied by S&P Global Market...
It is not uncommon for agencies to list exclusions on the proposals they provide to customers. Essentially, this is designed to impress upon the customer/prospect that various exposures are not covered. In addition, it also serves to prompt some discussion with that customer to indicate...
It is interesting that in the past couple of months, I have been requested by a number of the E&O Plus agencies I am honored to work with to provide some further training (virtually) on the issues associated with the Excess & Surplus Lines marketplace. I...
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...
Let me start with a question: Would you agree that your best customer is an educated customer? I repeatedly hear from agencies that they agree with this position, yet it is questionable how much the agency is doing to educate those customers. Often, it does not appear...