Over the last number of years of this E&O Plus blog, the issue of legal duties has been addressed from various perspectives. After all, the basic premise of E&O is focused on legal liability. In other words, just because the client suffered an uninsured loss...
You may think this is just another documentation article, and hopefully, you are saying, "I get it; I know how important documentation is." That's good, and you are right; a commitment to documentation is one of the best things to be known for, especially in...
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:...
Now that it is a new year, agencies often dissect their books to better understand any dynamics that are occurring. For example, what were the three key industries in which you had the most success in the new business written in the last year? What...
This is the time of year when we can expect the various financial rating companies to review many of the various insurance companies and provide feedback, including an update on the financial rating. Already, there have been some significant downgrades, with more likely to follow. First, agencies...
Generally, this is a place I suggest you avoid. There may be circumstances where your presence in a courtroom is necessary, such as in a civil matter, but I feel certain you would probably rather be elsewhere. Regarding E&O litigation, given the choice between a courtroom or a root canal, you might...
There seems to be a growing interest among several E&O Plus agencies in considering a captive program for some of their specific clients. Several insurance articles noted a resurgence with increased captive formations over the last few years. A "captive insurer" is generally defined as an...
While non-renewals are nothing new, they are occurring with greater frequency, especially in states such as Florida and California, where Mother Nature has not been kind to the industry. Typically, as carriers analyze their year-end numbers by coverage or class of business (or both), they...
"Is every carrier denial an E&O claim?" is a question I was recently asked by one of the agencies I am honored to work with. On the surface, it is an interesting question you might have wondered yourself. And when you think about it, what...
If I were to take an educated guess, most E&O Plus agencies have at least a few branch offices besides their main location. Expanding and opening other locations is key to growing the agency's revenue. Consistency is a key buzzword in the E&O world. This certainly...