With our current economic times and many families looking to tighten their financial belts and explore opportunities to reduce expenses, insurance is a common target. I have heard from many of the agencies I am honored to work with that they received an increase in...
With increased frequency, we are hearing about various products being recalled. Some products were food related: peanut butter, baby formula, lettuce, onions, cheese, hard-boiled eggs, etc. Other recalls involve eye drops, various health powders, fishing games, motorcycles, cars, tools, etc. While researching this topic, I...
For the benefit of some of the newer staff in the agency, the agency you work for has E&O coverage, essentially a professional liability policy that provides protection and coverage for claims made against the agency alleging negligence of some type. Every E&O policy has...
For the non-benefits folks, this procedure involves the client contacting the agency to make employee changes to the benefits coverage. The agency would then contact the carrier (typically through the carrier's online portal) to make those changes. The change would involve an employee being added...
With increasing frequency, I am asked (via email or on-site) if I have covered a particular topic on this blog. Also, with many new agencies joining the E&O Plus program, they may not be aware of all of the topics this blog has addressed. So,...
Every E&O Plus agency I am honored to deal with is constantly looking to improve and get better. Part of the “better” involves achieving growth in new business writings and overall revenue growth. I do find, from time-to-time, agencies that are not sure of the...
In many agencies I am honored to work with, there seems to be a heavy reliance on the agency system manual to serve the purpose of the agency's procedural manual. While the system manuals are typically well-detailed, there is rarely any reference on many of...
We were given some interesting claims data with special thanks to Swiss Re. Please note that this claims information is from agencies Swiss Re insures outside the E&O Plus program. The data is especially relevant as it is current (2018-2022) and thus indicates the latest...
Probably the first question should be, “Does your agency have a position on following up on direct bill non-pay notices?” If not, you should. This issue often comes with a lack of consistency. Often, the internal staff responds, “Our agency procedure is not to follow up,...
As agencies seek efficiency and cost savings, they look at different approaches to providing clients with their policies. For this discussion, the primary focus will be commercial policies. First, an editorial comment on policy delivery: I remember years back when I would walk by a producer’s...