In my 35+ years of involvement with Agents E&O, there is one area that continues to frustrate me somewhat (actually, it frustrates me a lot). As many of the great agency staff I have interacted with know, I have always felt producer staff (including those...
I remember, many years ago, when I would visit agencies, they would be noisy. Phones would be ringing, and people would use the phone to communicate with clients. Now, and even before the pandemic, agencies have become much quieter. What was the difference? People don't...
It appears that each year, insurance carriers are paying out increasing dollars on dog-related injury claims. In fact, according to the Insurance Information Institute (Triple-I) and State Farm, U.S. insurers paid out more than $1 billion in dog-related injury claims in 2022. A July 12 Insurance Journal article (below) discussed a...
There is a lot of truth to this statement. Acquiring an agency requires a lot of work, and attention to detail is critical. Preparation and planning are extremely important to ensure a successful outcome. One issue I have encountered with a number of the E&O...
Virtually every agency I am honored to work with is experiencing growth, with most of that growth achieved organically instead of through acquisition. This growth is often accomplished through an aggressive cross-selling initiative within a business segment (PL, CL, EB, etc.) or from one segment...
Without question, every agency I am honored to work with and virtually every agency in the E&O Plus program is looking to enhance its E&O culture. That is certainly one of the things that makes the E&O Plus program so great! The agency's commitment to...
Imagine the following: One of your insureds calls (or emails) and advises you they would like to reduce their auto limits. They explain that the current economy has hit them pretty hard, and they need to find a way to reduce some of their expenses. In...
Imagine the following scenario: As the producer who sold the account, you are on the stand in a trial where the client suffered a loss, and after reporting the claim, they were informed there was not enough coverage. Due to the size of the uninsured...
For those who have attended an E&O seminar in their insurance career, the words “Document, Document, Document” have definitely been spoken, and with good reason. Few key “Best Practices” have ever been spoken that rival those three words in the importance of E&O loss prevention. I...
This has always been one of my favorite sayings. It is especially relevant to agencies since a significant part of the day-to-day discussions and transactions involve selling in some form. This might relate to my early days in the insurance business (back in 1975, selling...