All the headlines from our Errors Omissions Topic Page, ordered by recency.
Jan 9 2015 // Professional Underwriting Group, Inc. is now offering an admitted program for insurance agent’s errors and omission insurance to qualifying insurance agents in Alabama, Arizona, California, Colorado, Florida,...
Dec 9 2014 // While many insurance agencies stick with their agency E&O carrier for years, those that do shop around tend to do so when premiums are rising and, according to a recent Insurance Journal survey, more agencies are...
Dec 1 2014 // Now more than ever agents are stepping up to the plate to protect their business. The experts agree that today agencies are more aware and proactive about reducing errors and omissions (E&O) risk.“Agents have...
Dec 1 2014 // There are similarities between deciding to run a marathon and managing your agency’s errors and omissions (E&O) exposure. Very few people, if any, can wake up one day, decide to run a marathon and then, without...
Nov 18 2014 // The Professional Insurance Agents of Florida Inc. (PIA of Florida) has tapped National Insurance Underwriters (NIU) as the official underwriter of its insurance agents’ professional liability errors and omissions...
Nov 17 2014 // USG Insurance Services Inc., a national wholesaler and managing general agent, has launched of a professional division in El Segundo, Calif.The firm has also hired Frederick Fisher as director of professional liability....
Nov 5 2014 // Allied World North America has launched Privacy//403 SRVS PRO, the latest product in the company’s suite of errors and omissions (E&O) productsPrivacy//403 SRVS PRO builds on the Specified Response Vendor...
Nov 3 2014 // In terms of agency E&O trends, carriers are closely eyeing an uptick in claims severity.According to Curtis Pearsall, president of Pearsall Associates Inc., a risk management consulting firm specializing agency...
Nov 3 2014 // There’s no shortage of accountants in the United States today, and the growth of this industry is not expected to slow anytime soon.In 2013, there were 1.17 million accountants and auditors and 1.59 million...
Nov 3 2014 // Errors and omissions (E&O) coverage: It’s one of the most important coverages you can secure. After all, your agency’s protection depends heavily on your E&O policy and how it works. Despite this, it...
Nov 3 2014 // While many agencies stick with their agency errors and omissions (E&O) carrier, those that do shop around tend to do so when premiums are rising. According to Insurance Journal‘s exclusive 2014 Agency E&O...
Oct 24 2014 // Confirmation That Suit Papers Have Been Received by the Carrier.While not an every day occurrence, most agencies receive suit papers from various parties several times a year and these papers must be forwarded to the...
Oct 21 2014 // Inflation Factors are Missing.Some property policies, particularly dwelling policies in personal lines, lack automatic inflation adjustment factors. These same policies often get less attention than other personal lines...
Oct 20 2014 // For the last 25-plus years, the No. 1 cause of errors and omissions (E&O) claims has been “failure to provide the proper coverage.” In 2013, many E&O carriers reported that this accounted for more...
Oct 17 2014 // Producers and Staff Do Not Adequately Know the Agency’s Procedures.More often than many might expect, staff and particularly producers do not adequately know the agency’s procedures. This can be especially...
Oct 15 2014 // Proper Authorization to Change Coverages Part II.In Blog 14 I wrote about the need to verify the party requesting a change in coverage has the required authority to make such a request. Another variation of this theme is...
Sep 22 2014 // Willis North America has reinforced its cyber risk management and insurance services with several appointments to its FINEX Cyber/E&O Practice. The following individuals will focus on Willis’ national and...
Sep 22 2014 // The workers’ compensation class of business results in upwards of 10 percent of all errors and omissions (E&O) claims every year. While this may not seem like a lot, it is a class agents must be sensitive to for...
Sep 8 2014 // I’ve had many independent agents (IAs) vent, fume, exclaim, yell, scream, curse and express total exasperation at losing an account because a captive or direct writer undercut the price while promising speculative...
Sep 8 2014 // During my more than 20-year career in the insurance industry, I have spent hours working with my colleagues to prevent hard-earned, front-end revenues from leaking out the back door due to errors and omissions.When a claim...