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... 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 winning an E&O judgment, you need to comply with these practices: The files must be the Primary Source of Information. This ... The information must be Input By Competent Personnel. Every employee must have proper training to the extent that their job requires. Your agency should set up a training matrix for each job description to ensure that staff is trained properly. The agency has written, implemented and enforces Standard Written Procedures. Not only does this provide an E&O defense, it also encourages consistent processing and customer service. Several E&O carriers have told me that they will require written workflow procedures to purchase or renew E & O coverage. The ... 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 winning an E&O judgment, you need ...

... ago we addressed the potential for lawsuits associated with agency errors and...that is often done to the productivity and sales activity of the agency operat...

...e admissible evidence to the court. Laws are standard in most states, with six...intains systems to limit and prevent Errors and Omissions losses

... their net taxable income. Adding federal income tax and state income taxes, the payout can be quite large. If independent contractor producers spend this money elsewhere rather than remitting it to the proper tax authorities, there can be trouble. Upon investigation and application of common law' factors, if the independent contractor producer' happens to be reclassified and declared an employee by a governmental agency (for whatever reason), the risks and liabilities for these tax liabilities, payments (and penalties) become the agency's responsibility. A CLEAR DEFINITION ... control over the results of the activity, the worker can be correctly designated as an independent contractor. (Examples of this right to control are explored further in this article.) Should an agency control or attempt to control an independent contractor's work, such as the enforcement of requirements to abide by procedures, adhere to certain business rules or programs, etc. Most likely, the status of the worker will be reclassified as employee and the agency can be held liable for employment taxes, benefits and other liabilities. If the agency ... , 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 Independent Contractor Producers: Do They Pose Higher Risks For Agencies Today?4/30/2013 12:00:00 AM by CompleteMarkets Editor , Paul Whiting This content has not been rated yet. Across the country there are independent insurance agents and brokers whose producers are either fully employed as employees by the agency/ ...

...imited by bankruptcy and insolvency laws and other laws affecting creditors' rights and subje...e numbering of the Sellers' warranties and representations in said section 3. ...

... to employees, or..[which] results in a deferral of income by employees for periods extending to the termination of covered employment or beyond.., then they fall within the definition of a pension plan' under ERISA. ERISA 3(2 ) . The case law, however, seems to make ERISA inapplicable. The case law has held that ERISA excludes employment contract deferred compensation arrangements. Rocky Mountain Motor Tariff Bureau, Inc. v. Leonard (DColo 1987) 652 F.Supp. 1473. ERISA also excludes plans for owners ... a challenge. 2.2.6 Severability clauses. Because of the uncertainty in covenants not to compete and against unfair competition, it is customary to have a severability clause in the contract that provides that if the court finds the contract partially invalid, it should sever that part and enforce the rest of the contract. Courts are usually willing to do so in this area of the law. 2.2.7 Termination of contract. It is important for an employment contract to specify when it may be terminated. If the employee can only be terminated for cause ... 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 Legal Outline For California Agencies - Chapter 2 4/30/2013 10:39:41 PM by CompleteMarkets Editor This content has not been rated yet. LEGAL OUTLINE FOR CALIFORNIA INSURANCE AGENCIES CHAPTER TWO CONTRACTS 2.1 Contracts every agency should consider. An insurance production agency is a creature of ...

...tigation and application of 'common law' factors, if the 'independent contract...t contractor producers in insurance agencies and brokers has come to an end. The need to develop consistent and thorough underwriting information, control the marketing and placement of business, and adhere to standard methods, procedures and automation criteria, plus increased demands for owners to become better and stronger business managers all may ...

...' under ERISA. ERISA 3(2). The case law, however, seems to make ERISA inapplicable. The case law has held that ERISA excludes employmen...rance funding. It is common for agencies or owners to maintain life insura...

... 1. Who to ask? Everyone in the value-added chain, customer to customer, plus support staff. The purpose of the interviews is to gather data, not to give information or correct a problem. Unless the place is burning down or someone is breaking the law or stealing from the agency, do not react to what you hear or see. Your purpose is not to fix problems but to create an environment where they will be prevented from occurring in the future. The Teams Job Is To RECEIVE information, not to ... defined in relation to operating benchmarks for every department, business unit, and position. Starting with a blank sheet of paper, lead your team through a process of establishing performance benchmarks. The result is a complete set of performance criteria for: Customer growth Revenue growth Enforce policy growth Expenses by area of responsibility Profit Service timeliness Quality, Customer satisfaction Productivity:, corporate, departmental, and individual Other areas the team feels should be included Everyone should know what the agency's performance benchmarks are. To be certain they do, conduct an ... 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 A Practical Guide For Re-Engineering Your Agency 4/30/2013 12:00:00 AM by CompleteMarkets Editor , David Stambaugh This content has not been rated yet. Call it whatever you like-re-engineering, restructuring, transformation, flattening, downsizing, rightsizing, a quest for global competitiveness- it's real ...

...nder bankruptcy or other insolvency laws or (iv) acquisition (or execution of ... EXHIBIT 14 DISCLOSURES OF THE SELLER AND STOCKHOLDER PURSUANT TO SECTION 14