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.
Should Parents Be Responsible for Kids Getting Hurt and Killed on E-Bikes? 
One Battle After Another: What TPLF Victory in One State Means for Others 
Tornado Alley’s on the Move and Creating New Risk Concerns, Modeler Says 
Lawsuit Alleges TWIA Fraudulently Reduced Claim Estimates From Hurricane Beryl 
