Most_Common_Claims_Renewals
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Renewals:
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About one-fourth of E&O claims involve a renewal. Specifically, the situations that give rise to E&O claims involving renewals typically include:
- Failure to procure a renewal policy
- Failure to duplicate prior coverage
- Failure to adequately identify and secure coverage for new exposures
- Failure to recommend adequate value/limit
- Errors when entering information on renewal applications
- Failure to adequately explain to the insured policy provisions or what must be done to secure a renewal
