https://completemarkets.com/Article/article-post/105/Final-Check-Protect-Against-Errors-And-Omissions/
Final Check: Protect Against Errors And Omissions
...ted, and the exposure to unnecessary errors and omissions will decrease substantially!
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https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/235/E-O-Claims-Training-Remediation-After-The-Error-Or-Omission/
... 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 Claims: Training/Remediation After The Error Or Omission!4/30/2013 12:00:00 AM by CompleteMarkets Editor , Ken Buehler This content has not been rated yet. If an error or omission occurs, you can't undo it. You can take action to prevent similar incidents in the future, though. An examination of the incident can reveal areas that need your attention. After an incident takes place, you ... to ask these questions: Were agency procedures and policies followed? Was everything about the incident properly documented? Were insurance company underwriting guidelines and binding authority guidelines followed? Did the employee (producer or support person) exceed their authority? Did the insurance company perform its responsibilities properly? If it didn't and the agency was aware of this, did the agency bring it to the company's attention? If it turns out that the agency does have some responsibility for the error or omission, even if to a very small extent, training and remedial action are in order. With that in mind, let's look at each question. Were agency procedures and policies followed? It's part of every employee's job to follow agency procedures and policies; whether they do is part of their performance evaluation. If employee ...
https://completemarkets.com/Article/article-post/943/MANAGING-TO-AVOID-ERRORS-OMISSIONS-PROBLEM/
Managing To Avoid Errors & Omissions Problem
MANAGING TO AVOID ERRORS & OMISSIONS PROBLEM by Carol Hamm...y evaluated with respect to financial and operational red flags that might in...
https://completemarkets.com/Article/article-post/2786/Why-Errors-and-Omissions-Insurance-Is-Critical-for-Service-Based-Businesses/
Why Errors and Omissions Insurance Is Critical f...le to move forward with peace of mind and grow in the knowledge that, even if...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/775/Admissibility-As-Evidence-For-Errors-And-Omissions-Claims/
... 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 Admissibility As Evidence For Errors And Omissions Claims 4/30/2013 12:00:00 AM by CompleteMarkets Editor , Jack Fries This content has not been rated yet. If (when) your agency faces E&O litigation, you'll need to provide admissible evidence to the court. Laws are standard in most states, with six requirements for the admissibility of evidence. To give your agency the best chance of ... an E&O judgment, you need to comply with these practices: The files must be the Primary Source of Information. This only becomes a problem if you have a dual filing system, for example paper files and electronic files. When maintaining a dual files system, both files must be identical. In other words, if your staff notes a phone conversation in the paper file, they should also note it in the activity log of the electronic file. My recommendation is that you maintain one or the other. The data contained in these files must be Input in the Normal Course of Business. This means that CSRs or other agency personnel should enter data into the files while performing their agency duties. The Agency Relies on the Accuracy of the Record. The information in the files ...
https://completemarkets.com/Article/article-post/125/Checklists-Protect-Against-Errors-And-Omissions/
Checklists Protect Against Errors And Omissions
I recently got to b... have to go through this process once. And think of the time you'll save correcting mistakes and fighting E&O lawsuits!
https://completemarkets.com/Article/article-post/985/ERRORS-AND-OMISSIONS-CONSIDERATIONS/
Errors And Omissions Considerations
ERRORS AND OMISSIONS CONSIDERATIONS by Carol H...dures that will treat customers fairly and respect their intelligence and decision-making capabilities. Keep them informed of good news and bad in a timely manner. And meet their needs with courtesy and professionalism. A satisfied insure...
https://completemarkets.com/Article/article-post/775/Admissibility-As-Evidence-For-Errors-And-Omissions-Claims/
Admissibility As Evidence For Errors And Omissions Claims
If (when) you...intains systems to limit and prevent Errors and Omissions losses
https://completemarkets.com/Article/article-post/1452/PROCEDURES-IN-AN-AGENCY/
...t Reduction of potential for Errors & Omissions claims Easier review...g to an insured that you do not understand. Promise anything that yo...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/1678/HOW-TO-CANCEL-A-POLICY-CORRECTLY/
... photocopy this authority by company and give a copy to each person handling cancellations. 3. Establish an internal communication system that will immediately put the accounting department on notice that a policy has been canceled and that they must follow up on the flagged amount. It would be wise to develop a standard form of written communication for this, or to give a copy of the cancellation form to accounting. Errors & Omissions Possibilities Improper handling of cancellations can result in great costs to the agency-both through Errors & Omissions claims and uncollected earned premiums. What happens if: You fail to follow up the receipt of the signed cancellation request form? If it is not received promptly by the company, the date of cancellation will not be recognized by the company, and the policy will continue to earn a premium ... which may be uncollectible from the insured. You do not send the proper forms for the insured to sign, or have neglected to instruct the insured correctly? Since the policy has not been canceled, if a large claim should occur, your company would have to pay. Depending upon the circumstances, that could result in an errors and omissions problem for your agency. You do not obtain the mortgagee release (signature) on the form? If this signature is not obtained, the mortgagee is still covered in the event of damage to the property in which the mortgagee has interest. Remember: You must complete the form very carefully, being sure that typographical errors are corrected on all copies. Never sign anyone else's name on the form to speed up the processing. The insured who signs ...