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...ency E&O exposures are trusts, cyber risk, Non-Ownership Auto exposures (P...uld also give ongoing training on new cyber risks and products for producers a...

... 30/2013 12:00:00 AM by CompleteMarkets Editor , Ken Buehler This content has not been rated yet. With so many new concepts, new types of business, and changes in existing insurance products, insurance agents need to be more diligent than ever in analyzing their Errors and Omissions risks and exposures. Some of the areas that open up agency E&O exposures are trusts, cyber risk, Non-Ownership Auto exposures (Personal and Business Auto), D&O Liability, Umbrella & Excess Liability, Employment Practices, home-based businesses, intellectual property exposures, and company solvency issues. Everyone at every agency should keep "due diligence" and "awareness" in mind while taking care of clients. Agents, like other professionals, must demonstrate their knowledge and skill. The technical ... with a client who has a large uncovered loss will wind up contacting their E&O carrier. E-COMMERCE RISKS Computers, the Internet, e-mail, and e-commerce have opened up a whole new arena of cyber risk. There's a plethora of high-tech businesses and applications that no one even imagined 20 years ago. General Liability, Errors & Omissions, Directors & Officers Liability, Media & Internet Liability, Crime & Fidelity, and Intellectual Property policies are just some of the insurance contracts dealing with these exposures. Intellectual property rights, copyright and trademark infringement, defamation, privacy and confidentiality, liability, and crime are example of losses that can arise from not safeguarding your system exposures. A multitude of property exposures also loom. Due diligence here means being aware of the types of exposures and the products ...