Question4
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Should a risk analysis checklist be used on both new and renewal business?
This will depend on the procedures your agency develops and puts into place. Using checklists on both new and renewal accounts can have a very positive effect on reducing your agency’s E&O exposure. Claims are frequently generated from accounts that are renewed “as is”. Both the exposures of personal and commercial lines customers change over time and checklists can unveil exposures that are sales opportunities.
! Using checklists on renewals can unveil changes in customers’ exposures and sales opportunity resulting in hidden profits.
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