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... :00:00 AM by CompleteMarkets Editor , Curtis Pearsall This content has not been rated yet. A client who utters these words might well be laying the groundwork for a nasty E&O claim. Consider this case: The insured had a niche market for tow truck operators. The claim involved a client from another state whose tow truck rear-ended a car, causing an occupant of the vehicle to become a wheelchair-bound paraplegic. The underlying case was worth $5 million to $10 million. The client, a new customer ... had provided a copy of his previous policy to the agent and asked for coverage. The agent stated that he saw the previous policy had $1 million primary and $4 million umbrella. According to the agent, he told the client he was only going to obtain a primary policy for $1 million and that the client was going to think about whether he wanted the umbrella coverage. Again, according to the agent, the client never got back to him on the umbrella. The client testified that he told the agent ... duplicate his prior policy, and assumed that he had umbrella coverage. Unfortunately, there was no documentation of the alleged conversations between the agent and the client. The E&O carrier settled the claim for the limit of the agency's policy, $1 million. Could this happen in your agency? There's probably not much question whether clients need or want primary coverages. After all, the vast majority of your commercial clients need liability and auto, etc. When you meet with them, there's little doubt that you are to ...

...ds fit your niche program. How many tow truck operators do business in Arizona? What's the ...

...e? Are owned vehicles used for towing special equipment (air compressors,...coverage – and go a long way toward ensuring that you do the proper ...

...own repairs, only to have to call a tow truck driver or plumber later. Most agent...

... . On the other hand, something too flashy may not fit a particular community. Along with the name, a newsletter should have the agency's logo on it. YELLOW PAGE ADS Most studies indicate that the first thing people look for in the Yellow Pages is a tow truck, and the second is an insurance agency. With that kind of impact, every agency should be listed in the phone book. In my opinion, the telephone book is the modern community business directory. It is printed annually and is current. You ... advertising space to tell your message, and if you want to be affiliated with an insurance company, you can list your agency under that company as well. In the Yellow Pages, your agency is easy as pie to find. If a person needs insurance, and you're who they spot, you'll get the call. LETTERHEAD You should never use white paper-it's too commonplace. Color is effective in this youth-oriented, changing world. People are used to seeing color; they look for it. Also, logo design is very important ... as a diary. This way your clients will save it and use it year after year. When customers receive a cheaper calendar, it usually gets passed down the line to whoever needs another desk calendar. But a good calendar will become an important part of the operations of that desk, and your agency will earn a place on that desk. Be sure to choose a calendar that you can obtain easily every year. You should require a guarantee from the supplier so that you can always get a particular calendar. Recently we ...