https://completemarkets.com/Article/article-post/2156/E-O-LEGAL-ACTIONS-THE-AGENCY-NEMESIS/
...ing in new inventory, and notify customers of the change. Getting back in acti...imes even void of any known body of insurance fact- but there's a solution. Th...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/2149/DOING-YOUR-DUTY-PROFESSIONAL-CONDUCT-E-O-AND-YOU/
... agents' duties. One of the most prevalent is failure to obtain proper coverage, as these two cases show. Case 1: The insured had asked the agent to find appropriate coverage for his fur-cleaning firm. Unfortunately, the agent did not obtain insurance covering the bailee exposure that comes with cleaning and storing valuable fur items. Result: Finding for the plaintiff (the insured) . Case 2: The insured, a swimming pool subcontractor, required General Liability and other coverages to maintain his business relationships with his clients (general ... . About Us Services Jobs PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Doing Your Duty: Professional Conduct, E&O , And You 4/30/2013 10 ... 44:36 PM by CompleteMarkets Editor , Roy Phillips This content has not been rated yet. DOING YOUR DUTY: PROFESSIONAL CONDUCT, E&O , AND YOU by Roy Phillips and Rick Oldenettel Every agent, and every agency, has specific legal duties to its insureds and insurers. The U.S. judicial system has always shown the flexibility of a contortionist. In the 1960s and 1970s, it appeared to tolerate litigation. However, since the 1980s, the system has made a turn to the right. Because some state legislatures ...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/2156/E-O-LEGAL-ACTIONS-THE-AGENCY-NEMESIS/
... pulse of legal actions filed recently. Here are some actual cases from our files. Case No. 1: Failure to Obtain the Proper Coverage The insured had requested the agent to find appropriate coverage for his fur-cleaning firm. Unfortunately, the agent did not pursue the Bailee insurance resource that accompanies the cleaning and storage of valuable fur items. Award for the plaintiff (insured) . If that sounds like a simple mistake, take a look at this error in obtaining the proper coverage: Case No.2: Failure to Obtain Proper Coverage ... . About Us Services Jobs PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back E&O Legal Actions: The Agency Nemesis 4/30/2013 10:44:36 ... by CompleteMarkets Editor , Roy Phillips This content has not been rated yet. E&O LEGAL ACTIONS: THE AGENCY NEMESIS by Roy L. Phillips, CIC, CPIA and Dan R. King, CPIA This article addresses an insurance agency's the most common practices that lead to Errors and Omission actions filed in court. Our information comes from our experience as principals in an agency and as consultants retained to review actions filed against fellow agents. As principals, we are familiar with early-morning anxieties about coverage questions. Without that history of ...
https://completemarkets.com/Article/article-post/2149/DOING-YOUR-DUTY-PROFESSIONAL-CONDUCT-E-O-AND-YOU/
... What duties do agents owe their customers? One court defined them this way: ...ment, but not in the arena of daily insurance transactions. With so much at s...