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...
Obviously, our lives right now are anything but normal. The shelter-in-place ordinance is requiring (for good reason) a significant part of the population to work remotely. When our lives do get back to normalcy and we are commuting to work, going to various events, or...
Since the beginning of time (well maybe not that long), about 5 percent of E&O claims involve umbrella coverage, both personal and commercial. While some of the claims involve allegations of failure to place, failure to suggest, exclusions in the umbrella form in which the...
With many E&O claims, it is difficult to point to just one thing that the agent could have done better. Typically, there are a host of issues involved. The goal for the agency is to have as many things as possible in their E&O defense...
Let me ask you a question. First, put yourself in the situation of being the client, not the agency person trying to sell the customer. Would you rather have your insurance with an agency that sells you a policy with minimal, if any, explanation of...