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...
Every day, this type of scenario is more likely to occur. In 2019, the number of drones being registered was more than two million, with registration required whether the drone owner is a modeler or a non-modeler. Registration appears to be required for drones weighing between roughly a...
In the pursuit of soliciting new business opportunities, obviously a key element involves the sending of new business applications to your carriers and wholesalers. The applications will reflect specific coverages (including modifications to endorsements) that you feel will be needed based on the exposure analysis...
Going back to 1986 when the E&O Plus program started, allegations involving improper execution of certificates have generated roughly 7 percent of all E&O claims and that trend continues today. This shows that a Certificate of Insurance is not the harmless document many believe it...
Does everyone in your agency know the exact legal standard that the agency and any individuals involved will be held to? Quite possibly, some of the new agency staff may not have been educated on this key issue. So, let’s use an example situation where the...