None

Articles

newspapers.jpgIn this section is a collection of articles that touch on E&O related issues.  From stories of huge E&O claims to technical coverage topics, these articles tackle current areas of interest to agents.  
 
If you are interested in reprinting ANY of the below articles, you must read and comply with the E&O Happens Reprint Permissions Guidelines​.

 

 

Elderly Policyholders

What do you do when they call you 20 times a year asking for a copy of their policy? [+]

Plans are Nothing Planning is Everything

While you may have a business plan in place, change in circumstances may cause you to modify your plans. As you plan for your agency's future, your staff's future, your own future, circumstances, mostly in the form of market forces, cause you to change your business plan to adapt to those forces. [+]

Why You Need to Offer Excess UM/UIM to Every Client

Protect yourself from 'Failure to Offer' E&O claims by explaining and offerning UM/UIM coverage. [+]

Potential E&O Claim: Should I report it to my E&O Carrier?

The decision whether an insurance agency reports a potential claim to its professional liability carrier brings with it a host of issues to consider. What effect does reporting a potential claim have on my agency's loss history? How will it affect my agency's premium? What difference can it make? [+]

Does the Right Hand Know What the Left Hand is Doing? Consistent agency procedures across all locations is the key.

Consistent culture, compliance and communication throughout the agency at all locations, is essential to prevent confusion and potential claims which may otherwise arise from acquisitions and dispersed locations. [+]

Duty? We Don't Have No Stinkin' Duty...The duty of the agent with regards to notices of cancellation.

Be careful of creating an obligation for yourself or agency where no obligation is neccesary. [+]

Tales of the Crop...Three stories of E&O crop claims with different results

Lessons learned when renewing or writing new crop insurance policies. [+]

Dont Let an Earthquake Shake Your Agency

Use good agency procedures to mitigate the possibility of an earthquake-related claim. [+]

The Familiarity Trap...Don't Let Complacency Hinder Your Agency's Procedures

Familiarity can breed complacency, which can lead your agency astray from procedures. [+]

Proceed Carefully If You Receive a Subpoena...Learn how to proceed if you are served with a subpoena

How subpoenas are handled can mean the difference between whether or not they develop into an E&O lawsuit. [+]

Relationship Between Agents Broker Defense and Claims Part II

This is an excerpt of a presentation by Sanford (Sandy) Goffstein, J.D. to E&O insurance professionals in May 2015 in St. Louis, Missouri. Mr. Goffstein has represented Missouri Swiss Re Corporate Solutions’ insured insurance agents in errors and omissions matters for more than 30 years. A graduate of Washington University Law School, Mr. Goffstein, along with his partner, Lori R. Koch, and his law firm of Goffstein, Raskas, Pomerantz, Kraus & Sherman, LLC, are actively involved in protecting the interests of insurance agents in Missouri and southern Illinois. [+]

Locking up the Shop

Advise clients on data breach risk management and cyber liability insurance--and practice what you preach. [+]

Don't Risk Being Underinsured: Five Insurance Mistakes to Avoid

Too many Americans believe that the coverage limits of their homeowners insurance policy are linked to the market value of their home, according to the Insurance Information Institute. In the I.I.I.’s 2011 Insurance Pulse Survey, conducted by the Opinion Research Corporation, nearly half (48 percent) of survey respondents came to that mistaken conclusion. [+]

Policy Holder Alert: 1st and 3rd Party Data Breach Coverage

Review this alert to find out what your agency needs to do to be eligible to receive the benefit of the 1st and 3rd party data breach coverage in your E&O policy. [+]

Agency Strategies to Send & Receive Personal Data Securely

Agents are being increasingly asked by their E&O underwriters whether they encrypt their clients’ personal data when it is being transmitted. This article provides recommendations with regard to two major areas agencies need to address – secure email and securing their websites when personal data is requested. The article also discusses “encryption” and major types of “personal data” that are the subject of the various laws. Finally, the article outlines the type of resources that are available on the ACT website to help agencies address the email and website issues, as well as to develop and implement a comprehensive agency information security policy and program for their agency. [+]

Aon Hit with $9+ Million E&O Suit

The Washington Area Metropolitan Transit Authority (WMATA) filed suit against its insurance agent/broker asking for at least $9.3 million of damages, along with pre- and post-judgment interest, attorneys’ fees and other costs or expenses. WMATA’s agent/broker, Aon Risk Services, Inc. of Maryland, is reported to dispute the claims and says “[Aon] looks forward to defending [itself] in court.” [+]

Imagine...never complete an application for your customer.

Imagine you have a long time friend and customer…let’s call her Mary. Imagine you have written insurance for her businesses for more than 20 years. Imagine Mary calls you and tells you she is starting a new business and needs to get her BOP/CGL, workers compensation, and all the other usual coverages for this new business. Imagine you think you know everything about her and her businesses... [+]

Avoiding Social Media Traps

David Hulcher, Assistant Vice President of Agency Errors and Omissions Risk Management for IIABA, Jeff Yates, Executive Director of the Agent's Council for Technology IIABA and Sabrena Sally, Senior Vice President of Westport Insurance Corporation were recently interviewed by Best's Review online for their January 2012 issue. This article, 'Avoiding Social Media Traps' outlines how property/casualty insurance agencies can open themselves up to errors and omissions liabilities when using social media and the guidelines they can take to avoid such pitfalls. [+]

How Much Data Can Your Agency Afford to Lose

Study shows 93% of small businesses that have major data losses are out of business in five years. Plan now for the worst case scenario. [+]