Several steps agents can take to reduce their general E&O exposure:
Sally: “By far, the most common claim is simply an allegation of failure to place coverage. The most reliable way to prevent these is written documentation that says, ‘This is what I offered you, my customer, and this is what you accepted.'”
Use Coverage Checklists
Sally: “They can range from fairly short and simple to a very detailed one that walks through certain types of coverage that could be appropriate for a certain type of operation.”
Stay Educated
Burand: “Every state association offers E&O classes. Those are great and are offered all the time. Another great resource is the IJ Academy.”
Read, Read, Read
Wilson: “Identify the sources of info you really truly need and focus your time on these.”
Have an Agency E&O Audit
Burand: “It is done by an outside auditor and agents may be able to obtain a discount on their E&O premiums.”
Topics Agencies
Was this article valuable?
Here are more articles you may enjoy.
BMW Recalls Hundreds of Thousands of Cars Over Fire Risk 
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
US Appeals Court Rejects Challenge to Trump’s Efforts to Ban DEI 
Pipeline Explodes at Delfin LNG Planned Project in Louisiana From This Issue
