About 10 years ago, I was teaching an E&O class dealing with the E&O exposures of personal lines. On day two, we started discussing personal umbrellas. I asked the group, “When would you propose umbrella coverage to a client?” It seemed like a reasonable question,...
It certainly appears that in any given year, several catastrophes will occur. Whether the catastrophe involves hurricanes, tornados, floods, wildfires or some other event, we can count on catastrophes happening. Unfortunately, that is a given. In my 30-plus years of involvement with Agents E&O, it has...
When I am in the various E&O Plus agencies, it’s interesting that things tend to be a lot quieter than in years past. For those folks that have been around this industry for a while (pre-email), you will remember that phones were a lot more...
Suggestion: At an upcoming staff meeting, ask one of the staff to explain Ordinance and Law coverage. Quite candidly, there is a possibility they may struggle with this explanation. Ordinance and Law coverage is somewhat unique and can have some tremendous importance at the time of...
A number of years ago when teaching an E&O class, the subject of Broker of Records came up. A somewhat new producer for the agency commented that he loves BORs. In fact, his exact comment was, “BORs are easy, I just renew as is. I...
“Agencies don’t make mistakes – people do.” This is one of my favorite expressions and it really is true. Agencies consist of people and it is up to the agency staff to do their job at the level expected. In that regard, an agency is...
Most agencies look at the insurance proposals they provide to customers and prospects as one of the key tools that will determine whether they land the account. A great proposal should increase the potential for a successful outcome. One issue to consider when developing the proposal...
First, I would like to go on record and say that I am a big fan of the E&S industry. This marketplace provides tremendous benefits and access to a wide variety of specialty or hard-to-place business. Most agencies would not be able to achieve success...
Any of the agencies I am so honored to work with know that one of my favorite sayings is, “If it is not in the file, it didn’t happen.” And in actuality, this statement is as true as it gets. Documentation is probably the most...
First and foremost, my sincerest thoughts and prayers to all of the staff of the E&O Plus agencies and their families hoping all are healthy and safe. Without a doubt, our lives as we knew them are anything but normal. Every day, we are all receiving...