Privacy Compliance. It’s not serious until you get caught, right? The normal individual human reaction to complex laws and laws that defy relatively easy compliance is to acknowledge their existence, give them lip service, and generally ignore them. Complex laws …
Carrier Rating Notifications. What responsibility does an agency have to notify clients of carrier ratings? On new business, it is a good idea to list the carrier’s rating. However, if the carrier has an A.M. Best rating of less than …
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 they would …
First Capital-AWIS, LLC (First Capital) and Hudson Insurance Group (Hudson) have introduced a new insurance services professional liability primary and excess facility underwritten by Hudson and administered exclusively by First Capital. The facility offers a range of insurance services classes, …
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 worth space. Being an advisor, and not …
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 to address …
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 …
