Policies Subject to Audit. Audits are one of the few E&O exposures agencies have that do not involve a claim. A good method for protecting the agency from audit related E&O claims is to disclose what policies are subject to audit in all proposals. Advise to the basis for the audit, an explanation of how audits work, and consider going so far as having the insured initial the proposal indicating they have been advised their policies are subject to audit.
Chris Burand and Burand & Associates, LLC, neither guarantees nor suggests that the recommendations in this Blog will eliminate the possibility of an E&O claim or incident and should not be relied upon as such. The material contained herein is for informational purposes only and is not intended as legal advice. Seek legal counsel regarding the applicable laws.
Was this article valuable?
Here are more articles you may enjoy.
25 Years Later: IJ’s Past and Continued Coverage of the Insurance Impact of 9/11 
GEICO Avoids Class Action Over Totaled Vehicle Payouts in New Jersey 
OpenAI Top Scientist Urges ‘Extreme Caution’ With Pace of AI 
Viewpoint: How Federal Ban on Intoxicating Hemp Products Will Reshape Risk, Coverage 
