There is a common expression I have often used, especially when discussing an agency growing its E&O culture. The expression "Rome wasn't built in a day" dates back to the 12th century and certainly was not expressed to deal with E&O as the wonderful world...
Let me start with, "When did you last review your website?" Actually, the same question applies to your marketing materials. Have they become a little stale? Do they still represent who you are and what your business proposition is? It would not be surprising if you...
If you were to stop and ask 100 people on the street, "Are insurance agents professionals?" it would be interesting to hear the answers. When many think of "professionals," occupations such as medicine or law would probably come to mind. Of the 100 people you...
From an E&O perspective, imagine you are now the client (CL or PL), not the agency professional. You purchased insurance from your agent many years ago and still have the same agent to this day. You just suffered a loss and have now been advised...
Since my first E&O Plus review, I have always had a tremendous appreciation for the role of the agency quality coordinator. For the E&O reviewer, they are the main contact between the agency and the E&O Plus program. And with virtually no exceptions, I am...
Sometimes, something so simple and basic can be a problem. What am I referring to? The binding of coverage. Over the past year, I have heard of several E&O claims due to coverage not being bound. The typical scenario involves the producer returning to the office...
One of the founding principles of the E&O Plus program involves auditing, the concept of "trust but verify." Without question, this need and focus on auditing has been an integral element of the success of many E&O Plus agencies. Ronald Reagan made the "Trust but...
For the last few years, it appears that E&O claims frequency has been in pretty good shape. It is difficult to cite exact numbers as the various Agents E&O carriers seem to measure this key statistic differently. Using a measurement of “# of claims per...
I recently had a producer at one of the agencies I am honored to work with refer to his role as a “Doctor of Insurance.” In other words, to address the pain that the insurance prospect was feeling. I had never heard that “Doctor of...
Several years ago (pre-pandemic), my inquisitive mind reached out to one of the Allianz Claims staff (Allianz was the E&O Plus E&O carrier before Swiss Re) with a question. The question essentially was, "When you look at the E&O claims that have occurred, what is...