Agency Operations

An insured has a loss that exceeds her policy limits. She claims that, a short time ago, she had called and increased her limits. The agency has no record of…

An agent inquires: “We are going to be updating our auto clients in a new program to $500K if there has been no increase or a decrease in premium. We…

An agency’s new phone system allows them to record incoming and outgoing conversations. The agency thinks this will be good for E&O and be better than relying on handwritten notes.…

In determining the limits an independent insurance agency should carry in an E&O/excess liability policy, what factors should be considered? Is it a matter of how much the agency can…

A recent issue of our IIABA “Insurance News & Views” email newsletter included an abbreviated version of a VU article entitled “Lost Policies…No Coverage?” The article included the statement that,…

If an agent is aware of a known hazard at an insured’s business, is there an obligation to advise the insurance company? Does the agent or company have an obligation…

Question: “We are wholesale agents. One of our retail agents has invoked the “law of agency” as a rationale for submitting applications with his signature only, in lieu of the…

An agent asks, “From an E&O standpoint, is documentation of a reduction in coverage, removal of drivers, etc. in our agency management system enough, or do we need to have…

Our “Ask an Expert” service has recently received additional questions involving E&O and procedural issues as more and more non-English speaking prospects enter the marketplace. While we cannot answer legal…

An agency recently was hit by a $38,000 claim under an E&O policy with a $25,000 deductible. Now the agency owners want the deductible to be paid by the producer,…