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... 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 Agency E&O Exposures To Broker Of Record Letters 3/19/2014 12:00:00 AM by CompleteMarkets Editor , Curtis Pearsall This content has not been rated yet. When you take over an account by broker of record, it's important to realize your work isn't done; in ... , it is actually just beginning. Acquiring an account by broker of record, if not handled correctly, has some significant Errors & Omissions claims potential. You face a number of key issues when acquiring an account via a broker of record. Primarily, how confident are you the current policies reflect the current exposures? Is your agency/producer familiar with this type of account and the exposures this type of risk faces? In addition, based on the quality of the job the prior agent did, there might be coverages available ... at the next renewal or mid-term? What are the wishes of the parties? What is the position of your carriers? Resolve these matters with your insured and carriers to ensure proper handling of any coverage modifications or claims. When you are acquiring an account via a BOR, pay proper attention is given to every file. Do not "renew as is!" You might simply be duplicating the prior agent's mistakes and this does not protect your agency from the possibility of an E&O claim. Curtis Pearsall, CPCU, ...

Agency E&O Exposures To Broker Of Record Letters
When you take over an account by broker of record, it’s important to realize ...otect your agency from the possibility of an E&O claim.