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... committed to helping our clients design a Workers Compensation risk managemen...Planning [ ] Employment Practices Liability-  [ ] Workers ...

... expires. Normally, the policy is designed to cover claims reported within fiv... agency, while demonstrating your professionalism and your concerns to your cl...

... auditor should look for programs designed to accomplish this and should evalu... auditing of workers' compensation, liability, and employee benefits claim adm...

... all boils down to the fact that your agency needs to exercise a greater degree of due diligence to avoid or reduce the impact of an E&O claim. Taking the right steps will also serve the client more effectively and strengthen your carrier relationships. In that light, we'll discuss three broad topics — solvency, regulatory issues, and policy coverage — focusing on background information, exposures, and agency risk management techniques. SOLVENCY Although solvency is a concern in hard or soft markets alike, the problem worsens with increased E& ... all (also called "prior acts" or "full prior acts" coverage) . Extended Reporting Periods: This is usually called "tail" coverage because once it's added, the policy will cover claims submitted after the policy expires. Normally, the policy is designed to cover claims reported within five years, as long as the occurrence is reported to the insurer within 60 days of the end of the policy term. CONCLUSION We've only covered the tip of the iceberg in soft market/hard market E&O exposures. ... initiatives to reduce these exposures will benefit your agency, while demonstrating your professionalism and your concerns to your clients. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & ...

...en that means an attorney. A well-designed employee handbook can be an effecti...e most desirable features under any liability policy, and this holds true for ...

... By imposing rules and procedures designed to avoid E&O problems, you will...ganizational and procedural programs designed to streamline processing and imp...

...ociations, and the management has designations. The financial profile rev...

... . The worst thing you can do is to turn the claim over to a company service center and lose your importance to the client. When a client calls to tell you of a loss, advise, direct, and sympathize — show them everything in its best light, and demonstrate a sense of control. Never advise the insured that you'll try to get the carrier to take care of an uninsured loss. Don't argue with the company to reverse its position on a denial; you might become liable. Be a mediator, ... good. Your goal is to focus on the client. 10. If you (or one of your producers) are working on a type of risk for the first time, get help from your carrier or from an outside source. Many carriers have supplemental applications designed for the type of risk you're trying to write, and/or a special program for the risk. When it's something unusual, call your underwriters and discuss it with them. They might even pre-inspect or engineer the risk and advise you about what will be ... of exposure are rapidly expanding, and the high cost of everything , combined with increasing consumer awareness, will only aggravate the problems associated with running an agency. You can take steps that will lessen your exposure to E&O . Many are common-sense activities that any professional needs to do anyway. Here are 25 tips toward E&O-proofing your agency: 1. Never, never write a Commercial account without inspecting the risk. This applies to both new business and renewals. If the account is too small to inspect, you ...

...he changes. That way, you're highlighting only the changes to be made. You mig...m the 1960s versions of the General Liability policies, in three main phases o...