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 blog space. My field …
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 also like the strategy because they think …
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 paper records. Second, the solution is not to keep …
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 violating the Violent Crimes Act. Some …
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, this means the agency is accepting …
Job Descriptions. A simple solution to minimizing E&O exposures. One of the most significant E&O exposures is literally a “he said, she said” issue. Producers think a CSR will do something and CSRs think the producer is doing it. The …
Agency Catastrophe Plans. How to keep a catastrophe from becoming an even bigger catastrophe. I don’t know who said it, but they correctly concluded that the best E&O audit is a natural catastrophe because so many clients have claims and …
Bond Specifications & Company Ratings. Do you check? When commercial clients need a bond, they almost always have a contract that requires the bond meet certain specifications. Among those specifications is the bond be issued by an insurance company with …
Binder Knowledge. What is a binder? I ask this question of most agency staff and many producers I interview. Less than 10% of staff and probably less than 25% of the producers I interview know what a binder is. An …
Out of Office Expectations Does your voice mail tell callers you are out-of-office and will return their calls when you return? Of course it does. Does your email advise people emailing you when you are out that you are out …
