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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, ... sign off" on those limits you offered that they did not select. You might want to ask your carriers if they have had any large claims you can include in your proposal. See if the coverage "follows forms." Are there any exclusions in the excess policy that aren't in the primary? Both you and your client need to know. If any of the underlying policies are written on a claims-made basis, see how well the umbrella addresses this exposure (underlying policies written on both a claims-made and occurrence basis) ... one of the coverages is on a claims-made basis, is full prior-acts being afforded or is there a retro date? This is a critical distinction that you, as the agent, need to bring to the client's attention. Remember that not all umbrella forms are the same. If you're getting proposals from multiple carriers, review the forms to identify any distinctions. This can be a daunting task but it's essential. If the client states "let me think about it," document back to the client that you have not placed ...

...ld, Chamberlain probably saves in excess of $60,000 a year and gains immeasura...