All the headlines from our Errors Omissions Topic Page, ordered by recency.
Jun 11 2013 // CNA has developed a new integrated insurance product to address the full range of exposures unique to accountable care organizations (ACO). An ACO is a group of healthcare providers who join together to share...
Jun 7 2013 // Personal Lines Liability Limits. If an agency has only offered a client $100,000 liability and they have a $300,000 claim, what do you think the answer will be when, on the witness stand, their attorney asks them whether...
May 30 2013 // Chances are just about every town in the United States has a restaurant, tavern or pizza parlor. Pursuing this type of risk, then, is common. Yet before taking that first step, do your homework to help you understand that...
May 24 2013 // E&S Binding Limits. Extremely few, if any, retail agencies have any binding authority whatsoever with their E&S brokers. This is such a simple E&O tip that most readers probably see it as a complete waste of...
May 20 2013 // It’s well known that Texas has some of the highest homeowners premiums in the nation – in large part due to the state’s vulnerability to violent weather.It may be less known that Texas has some of the highest...
May 20 2013 // Chances are just about every town in the United States has a restaurant, tavern or pizza parlor. Pursuing this type of risk, then, is common. Yet before taking that first step, do your homework to help you understand that...
May 15 2013 // AOR/BOR Procedures. If the current agent is so good, why is the insured moving their policy? AOR/BOR selling strategies have increased in popularity exponentially over the last decade. Some sales consultants and producers...
May 14 2013 // If you asked 100 insurance professionals on the agency side what one line of business “scares” them the most, it’s likely that directors and officers (D&O) liability would be at the top. The lack of...
May 9 2013 // As the Internet continues to take hold over the independent insurance agent’s market share, the value-added services a broker can provide to their clients are more important than ever, especially in the high-net...
May 7 2013 // Rockwood Programs has implemented underwriting guideline changes to its P&C Agents E&O program. The modifications will result in a rate decrease in the states of California, Massachusetts, Nevada, and Texas. The...
May 6 2013 // Some inside knowledge and a lot of experience strongly suggests that many agencies and brokers are cutting processing corners. I am not writing about immaterial corners. I am writing about them cutting large, material...
May 2 2013 // It’s well known that Texas has some of the highest homeowners premiums in the nation — in large part due to the state’s vulnerability to violent weather. It may be less known that Texas has some of the...
Apr 25 2013 // While the industry seemed to see a spike in mergers and acquisitions activity in 2012 due to some tax implications, many are projecting that 2013 will see some healthy buying and selling, too. While there are many issues...
Apr 24 2013 // Record Retention. It’s not as simple as everyone thinks.Significant and dangerous myths exist relative to this increasingly important topic. The first myth is that “records” means all records, not just...
Apr 22 2013 // MarketScout has developed a new errors & omissions facility designed specifically for Certified Insurance Counselors (CIC) to be offered through its relationship with Ironshore Inc., a global specialty insurance...
Apr 22 2013 // If you asked 100 insurance professionals on the agency side what one line of business “scares” them the most, it’s likely that directors and officers (D&O) liability would be at the top of the list....
Apr 19 2013 // Bermuda-based Endurance Specialty Holdings Ltd. announced that Daniel Wadley has joined the company as Executive Vice President and Head of its new Endurance Pro insurance unit.He will be responsible for growing the...
Apr 17 2013 // Felony Background Checks. An important step in hiring people. If an employee has a felony conviction and the agency has not obtained the proper waiver from their state’s insurance department, the agency may be...
Apr 10 2013 // Flood Insurance. Who Ever Said Mortgage Companies Know Everything About Flood Insurance?In agency after agency I visit, flood insurance is usually only offered to people if their mortgage company requires it. De facto,...
Apr 8 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Protective Insurance Company (PIC) and its wholly owned subsidiary,...