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...elling. CASE #2: CONTRACTUAL LIABILITY The names in this case have bee...nclude a summary of proposed coverages and the premium for each one. Every pro...

... small businesses like insurance agencies have high divorce rates. It's one of...that is often done to the productivity and sales activity of the agency operat...

...t has a significant professional liability exposure, but each agent’s exposure...an do right by her companies, clients, and agency.

... Articles by CompleteMarkets Editor Comments (0 ) Blunderers Bank Big Bucks, Too This content has not been rated yet. CompleteMarkets Editor , Chris Burand 4/30/2013 12:00:00 AM BLUNDERERS BANK BIG BUCKS, TOO by Chris Burand Whats this? Adopt Worst Practices' to increase earnings? Say it aint so! Yet this document by Chris Burand is full of exa.. All Articles by CompleteMarkets Editor Comments (0 ) Compensating The Insurance Agency Office Staff This content has not been rated yet. CompleteMarkets Editor , ... Comments (0 ) Avoiding Adverse Legal Decisions This content has not been rated yet. CompleteMarkets Editor , Carol Hammes 4/30/2013 10:36:15 PM AVOIDING ADVERSE LEGAL DECISIONS by Carol Hammes Several months ago we addressed the potential for lawsuits associated with agency errors and omissions. Unfortunately, there are a number of other .. All Articles by CompleteMarkets Editor Comments (0 ) Become An Employer Of Choice: Find And Keep Great Employees This content has not been rated yet. CompleteMarkets Editor , Pamela Millard 4/ ... content has not been rated yet. CompleteMarkets Editor 4/30/2013 10:38:26 PM AUDIT EXPLANATION - PREPARE, PREPARE Dear (Customer Name), THERE'S SOMETHING YOU SHOULD KNOW ABOUT AUDITS . . . As you know, Workers Compensation and General Liability policies are su.. All Articles by CompleteMarkets Editor Comments (0 ) Avoiding Adverse Legal Decisions This content has not been rated yet. CompleteMarkets Editor , Carol Hammes 4/30/2013 10:36:15 PM AVOIDING ADVERSE LEGAL DECISIONS by Carol Hammes Several ...

... is likely to be different from the one Kelvin might face, and a claim on Paula will be different from either one. Each agent's claims are determined by their relationship with clients. Positioning Positioning is the act of defining one's responsibilities in a given role. Individuals adopt a position relative to each role they have assumed in their lives. This definition influences attitudes and actions. Try this experiment: Approach three people who have children and ask them, "What do you believe is a parent's primary responsibility?" The answers they ... position you. Are your actions congruent with your goals and values? Or have you simply developed habits that dictate how you approach an issue? You should also analyze your support staff. Are they projecting your position accurately? Are their actions reflecting the philosophy of the agency? Question its validity. During the past decade, the relationship between insurance company and agent has changed dramatically. Have you adjusted your actions accordingly? Or are you operating the same way as you did 10 years ago? Litigation has increased in our society over ... clients trust her; some consider her a friend. Which of these three agents has the greater errors and omissions (E &O ) exposure? Which is more likely to be sued for mishandling an account? In today's legal environment every agent has a significant professional liability exposure, but each agent's exposure differs. A claim filed against Fast Phil is likely to be different from the one Kelvin might face, and a claim on Paula will be different from either one. Each agent's claims are determined by their relationship with clients. ...

... million in the aggregate per occurrence which shall cover such Party for real or alleged acts or omissions committed prior to the date CIS shall become operational. 6.5 Each Party shall abide by and conform to the By-Laws of CIS and to the operating rules, regulations and procedures adopted by the Board of Directors of CIS from time to time and disseminated to the Parties. 7. Termination of a Party: 7.1 CIS shall have the right to terminate any Party as a Party to this Agreement only upon good and sufficient cause which shall be ... This content has not been rated yet. SPECIMEN CLUSTER AGREEMENT Prepared By: DAVID A. BAKST, ESQUIRE MORRISON, MAHONEY & MILLER AGREEMENT made and entered into this __ day of ___, 19_, by and among the following Parties: A. RED INSURANCE AGENCY, INC., a Massachusetts corporation, having a principal place of business in Boston, Massachusetts; B. WHITE INSURANCE AGENCY, INC., a Massachusetts corporation, having a principal place of business in Boston, Massachusetts; C. BLUE INSURANCE AGENCY, ... late charges on overdue premiums. Commissions on so-called audit premiums shall be included as Net Annual Commissions. (d ) Book Value' shall mean the stated value of all assets less depreciation but excluding goodwill, covenants not to compete, Accounts and other intangible assets less liabilities of every name and nature. Additionally, there shall be excluded from Book Value the death benefit payable from life insurance, if any, on the life of any Party hereto or individual shareholders or employees of a Party hereto. (e ) Total Permanent Disability ...

...f insurance (automobile, general liability, etc.) Assist customer service rep... in this Agreement shall be in writing and shall be served either (a) personally by handing the same to the person to be ser...

...r servicing. Increased limits of liability and/or endorsements to existing pol...13. Notices. All notices, requests, demands and other communication required hereunder shall be in writing and shall be deemed to have been duly given and effective (a) on the date delivered if delivered in hand to the Producer or to the President...

... reductions in commission rates, assumption by insurance companies of account servicing duties, or other outside reversals in agency income. Could you be sued for wrongful termination if you have to lay people off? Yes, if employees perceive that there was discrimination involved. You must adopt fair guidelines that will be consistently applied. Criteria generally used for layoffs are based on seniority or performance ratings or both. This is when having a formal performance evaluation/salary administration program can be invaluable. If everyone has been receiving the same percentage increases in ... Recent All Back Avoiding Adverse Legal Decisions 4/30/2013 10:36:15 PM by CompleteMarkets Editor , Carol Hammes This content has not been rated yet. AVOIDING ADVERSE LEGAL DECISIONS by Carol Hammes Several months ago we addressed the potential for lawsuits associated with agency errors and omissions. Unfortunately, there are a number of other threats to the small business owner that can turn the life of even the most cautious agency principal into a real nightmare. This month we will deal with two types of legal action that can seriously ... recession the number of lawsuits will continue to increase and that the awards for lost wages will go much higher. Besides winning back pay and recompense for lost benefits, dismissed employees in some states have also recently sued for and won punitive damages, dramatically increasing the potential liability for employers. While there are no guaranteed steps to follow to prevent a lawsuit (let's face it, anybody can sue for anything today), there are some things that you can do to reduce the likelihood of litigation. Remember, the important thing is ...