Appropriate claims handling can easily reduce payouts and an entity’s losses by 20%-50%. In this article, Monte Gale provides an adjuster’s guide to controlling a loss once it’s submitted.

Nearly all agency systems and procedures revolve around the use of Agency Management Systems and other third-party software. Proper training and usage of these systems will result in reducing Errors and Omissions losses. There are nine steps that an agency should take.

P/C agents often have reviewed contracts and leases in conjunction with writing Contractual Liability coverages. In many cases, agents will advise clients to reject hold-harmless clauses which place undue hardship on them. Yet insurance agents themselves may be in the grip of hold-harmless clauses, which could lay immense financial burdens on them, even if they are totally innocent of any wrongdoing. We refer to the producer or general agent (GA) contracts of some-not all! -- Life carriers. Unfortunately, some of these carriers are among the best-known career or brokerage companies and, even worse, agents often aren't aware of the poisonous clauses until it's too late and they're sued.

COMMERCIAL INSURANCE BINDER BILLING PROCEDURE SPECIAL COMMERCIAL ACCOUNTS 1. If possible, CSR/Marketer obtains a renewal policy number from the company. If none is available, as...