Coverage Checklists

Make your Mark with a Risk Analysis Checklist

  ​Using risk analysis exposure checklists can make your agency staff less vulnerable to agency E&O claims. They can help you avoid the most common E&O claims such as “failure to procure the coverage requested”, “failing to recommend coverage”, “failing to identify exposures”, and “not adequately explaining policy provisions”. The benefits of an agency using risk analysis checklists are numerous, including:
  1. Helping the agency reduce exposure to both knowledge and procedural-based E&O claims.
  2. Providing some vital documentation for the client file – a valuable defense tool.
  3. Making it easier for producers to identify client risk exposure and to fill gaps in coverage.
  4. Facilitating an increase in agency premium production through cross selling opportunities, uncovering hidden profits.
  5. Providing a more clear picture of clients needs and understanding of their business, increasing the client perception of professionalism.
The leading driver to E&O claims is “failure to procure coverage”. These types of errors can be both knowledge based and procedural in nature. Knowledge-based errors occur because of inadequate training, lack of coverage familiarity, or an inability to properly analyze risk exposures. Procedural-based errors are those generated from a lack of timely action or follow-up, including not properly documenting the client file. CHECKLISTS CAN HELP ADDRESS BOTH TYPES OF E&O CLAIMS.

The benefits of checklists are clear. Search the Big “I” Professional Liability Programs seminar on “A Practical Guide of E&O Risk Management” and the only phrase you’ll likely see more frequently than “Use a checklist” is “Document the client file accordingly"!​