25 Jun We Want to Be Part of Your Team
For those of you who interact with one of the three reviewers (Angie, Mishell, and myself) during the annual review or in other settings, this statement (wanting to be part of your team) is a significant element of who we are and our objective. You may know or interact with us during the annual review. We enjoy those opportunities to discuss and explain the “why” of the key E&O loss prevention issues. While we ask many questions, listening to the responses helps us help you. I would venture to guess that Angie, Mishell, and I have nearly 100 combined years of E&O loss preventive “consulting” experience, so there is a good chance we have seen it at some point in our careers. The status of E&O claims is typically heavily determined by the agency’s actions, including issues such as documentation, exposure review, and adherence to agency procedures. I have often used the analogy that there are two buckets at the time of an E&O claim. One of the buckets is those things that are more favorable to the plaintiff who is bringing legal action against your agency. The other bucket includes items that will strengthen the agency’s defense. Our goal is to have your bucket overflowing with a solid defense.
It is fair to say we have a vested interest in your firm’s E&O loss experience. Since the E&O Plus program is a captive structure, improving the loss experience directly correlates to greater potential for the program to enjoy profitable status. With profitability come outcomes such as potential dividends paid to the firms in the program.
The key is that our involvement is more than just during the annual review. In my 12 years working with the firms I am honored to work with, I have had numerous situations where monthly or quarterly conference calls were set up to review and discuss various issues and questions. Also, I have received emails from the agency numerous times asking if I am available within the next day or two on questions that have arisen. I know from discussions with Angie and Mishell that this is also typical for them.
Other scenarios where our assistance is requested include:
- Review of agency procedure manuals
- Review of proposed proposal templates/wrap documents
- Review of form letters to be sent to clients on various issues
- Review of promotional materials. Agency websites can also be reviewed (due to the website’s size, this can involve an additional fee).
The bottom line is that we view this as “we are all in this together” and “we want to be part of the team.” Overall, we have the same goal/outcome in mind.