All the headlines from our Errors Omissions Topic Page, ordered by recency.
Mar 24 2014 // Insurance Journal examined industries experiencing changes and expansions in the past year. Here are the top 10 market sectors that just might deliver hot opportunities for agents and brokers in the property/casualty...
Mar 10 2014 // The end of the world is coming. The world of Windows XP that is.A significant event is happening in the technology industry that will affect insurance agents. On April 8, 2014, Microsoft will no longer support Windows XP....
Mar 10 2014 // With few exceptions, an application is a necessary document to secure a proposal or to bind coverage, and can actually possess tremendous power. When an errors and omissions (E&O) matter develops, all of the various...
Feb 24 2014 // Those in the insurance industry have another errors and omission (E&O) risk to consider these days, and they have technology to thank for it. Anyone in the insurance industry that possesses, stores, transmits or...
Feb 21 2014 // Agents and brokers who are not selling trade credit insurance – also known as receivables insurance – are missing huge opportunities but also opening themselves up to errors and omission (E&O) exposures, according...
Feb 21 2014 // Fees & Agency’s Standard of Care. An agency’s Standard of Care requirement has many moving parts and variables. Simple answers generally do not exist because the applicable standard is case and fact...
Feb 10 2014 // As many agents know, there are various standards to which they will be held in the event of litigation. There are also standards to which customers will be held. One of those standards involves a duty the customer has to...
Feb 10 2014 // A myth is sneaking into the industry that insurer insolvency is not as important today. Belief in this myth is important to many entities. A number of companies, agencies and other firms benefit if less attention is paid...
Feb 6 2014 // Tie-In Sales. The odd evolution of personal lines insurance has now come full circle in many states. Years ago insurance companies limited agents to only writing auto if the agency also placed the insured’s...
Jan 23 2014 // TPA Activities. Some agencies are unknowingly conducting TPA activities. Others are knowingly offering these services without knowing whether their E&O policy will provide coverage. Many insurance agency E&O...
Jan 13 2014 // Another year is in the books. As your agency reflects on the past year, how would your answer the following question: Are you a better errors and omissions (E&O) risk today than compared to a year ago?Many issues...
Dec 27 2013 // Update Census Forms on AORs/BORs. When an agency takes over a group benefits account by AOR or BOR, it is likely picking up the prior agency’s/broker’s mistakes. Sometimes, for many different reasons ranging...
Dec 19 2013 // Agency managers tend to have a rosier view of agency operations than their employees do, according to a survey that also suggests this gap could present errors and omissions (E&O) implications.The survey reveals that...
Dec 13 2013 // Ascent Underwriting, the Managing General Agent (MGA) specialising in emerging risks, has launched a medical billings errors & omissions insurance product specifically aimed at U.S. healthcare professionals.CyberPro...
Dec 12 2013 // Hub International Insurance Services Inc. named Arturo Perez-Reyes vice president and privacy and errors and omissions lead in its San Francisco, Calif. commercial division. In addition to his production role and client...
Dec 2 2013 // Agencies involved in the sales and service of employee benefits know that the issue of errors and omissions (E&O) is very real — and that proper steps must be taken to minimize that exposure. Many in the employee...
Nov 27 2013 // State Guaranty Funds. Many agency owners, producers, and CSRs believe state guaranty funds provide blank insolvency protection for any client insured by an admitted carrier. This is not true. Many state’s guaranty...
Nov 21 2013 // Binders Redux. A binder is a temporary insurance contract. This is a fact. The Acord 75 field Description states, “A Binder is a temporary insurance contract which provides coverage in advance of the issuance of an...
Nov 19 2013 // Date Stamping. Could any E&O blog address a simpler subject than date stamping? Maybe not, but date stamping correctly to mitigate E&O exposures is something too few agencies practice. Most agencies I visit have a...
Nov 12 2013 // U.S. Risk Insurance Group, Inc., a nationwide managing general agency and surplus lines, has launched a new program for Texas lawyers’ professional liability through its U.S. Risk Pro division. This admitted program,...