https://completemarkets.com/Article/article-post/511/Avoid-E-O-Problems/
...perty risk through the Wisconsin Insurance Plan (assigned risk property insurance program). After the policy had been...nclude a summary of proposed coverages and the premium for each one. Every pro...
https://completemarkets.com/Article/article-post/985/ERRORS-AND-OMISSIONS-CONSIDERATIONS/
...n go unshod' could apply to many insurance agencies today. Thousands of agents don’t carry any E&O insurance at all, and many more might not hav...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/1849/REACHING-OUT-TO-SELL-SOMEONE/
... He turned to telemarketing, the insurance industry's-and everyone else's-vers...urnal, lives in Knoxville with her husband. She gathered all the information f...
https://completemarkets.com/Article/article-post/989/Agents-Responsibility-For-Company-Insolvency/
...0 years ago courts did not treat insurance agents as professionals and as a re...e of major and immediate concern for agents during the next several years.
...
https://completemarkets.com/Article/article-post/2156/E-O-LEGAL-ACTIONS-THE-AGENCY-NEMESIS/
... CPIA This article addresses an insurance agency's the most common practices ...nt is that it should exist. Innovation and creativity have no place in the she...
https://completemarkets.com/Article/article-post/807/The-Hold-Harmless-Or-Indemnification-Clause/
...lace undue hardship on them. Yet insurance agents themselves may be in the gri... recognizing the concerns of the other and with cooperative rather than advers...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/952/SELECTING-INSURANCE-COMPANIES/
... 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 Selecting Insurance Companies 4/30/2013 10:35:26 PM by CompleteMarkets Editor , Carol Hammes This content has not been rated yet. SELECTING INSURANCE COMPANIES Agents' Responsibility for Company Insolvency by Carol Hammes Beware these warning signs of carrier financial instability. Financial stability ... one of the most important criteria for selecting and retaining an insurance company partner. The insolvency of a major carrier can prove disastrous, disrupting your agency, your reputation, and your insureds. And even if you survive the immediate crisis, the effects on productivity can linger for years, especially if you must defend E&O suits resulting from the carrier's financial difficulties. In the past 30 years approximately 650 P/C insurance companies have disappeared due to financial difficulties. More than half of these resulted from deficiencies in loss reserves ... generally the impact of poor management practices. Cash-flow underwriting and increases in short-term earnings intoxicated inexperienced management teams, who failed to recognize the dangers lurking in the quick fix. In the past, courts generally didn't regard insurance agents as professionals, thus absolving them of any errors & omissions exposures when a carrier became insolvent. With "professional" status came specific standards of conduct. Since 1975 the courts have required agents to have adequate knowledge of their companies and of coverages. If due diligence would have revealed financial difficulties before an agent ...
https://completemarkets.com/Article/article-post/1452/PROCEDURES-IN-AN-AGENCY/
...hrough failure to renew expiring insurance (whether insured is contacted or no...g to an insured that you do not understand. Promise anything that yo...
https://completemarkets.com/Article/article-post/227/Emerging-E-O-Loss-Exposures/
...usiness, and changes in existing insurance products, insurance agents need to be more diligent tha...iligence can help reduce the frequency and severity of E&O claims as well ...
https://completemarkets.com/Article/article-post/2560/Improving-Your-Close-Ratio/
... many new agents fear it. A Life Insurance Marketing and Research Association ...al agents, managing general agents, insurance schools and colleges, and Life agents' associations.
In today's market conditions, no Life agent should be standing still in education, production, ...