Every fire loss claim covered by an insurance policy begins and sometimes ends with the agent who sold the policy. However, avoiding an E&O claim related to a fire loss begins and always ends with you understanding the process. Remember, the fire loss doesn’t start with the fire, it starts with the application.
“If I’d only sent them the policy, then I wouldn’t be in this mess.” And if I had a nickel for every time I heard that from an agent when there was a claim and a carrier was denying coverage for an uncovered underlying claim, I’d be a rich man.
It happens to many agents. Aunt Sally and Uncle Bill purchase some retail space and plan to rent it out. They need insurance and, of course, contact you since you are in the business. Granted, you have never placed a commercial policy of any kind before, much less in Florida, but how hard can it…
By: Brendan McNeal A customer has requested a policy, and you have procured a quote. The coverage looks good. The deductible looks good. Most importantly to your customer, the premium looks good. Coverage is bound. Time goes by, a year or two. Maybe 10. Then there’s a loss. A claim is filed, and fortunately, there’s coverage.…
By: Nancy Germond Question: “I currently write a very nice tree service account, which is coming up for renewal in a couple of months. Last year, we had some stiff competition and barely kept the renewal. I suspect that this year will be no different, so I’ve already touched base with the underwriter about renewal pricing.…
By: Caryn Mahoney Imagine reading this headline in your local newspaper: “No coverage for $2 million judgment against apartment owner for shooting death.” The story goes on to say that the insurance agent “probably could not have gotten coverage for assault and battery.” What would you think if you lived in that neighborhood? Or if you…
Around my favorite time of year, Halloween, there are a lot of television shows and internet articles about scary things. It made me think that as an insurance agent errors and omissions aficionado, what is it that scares me and, in turn, what should scare YOU?
Around my favorite time of year, Halloween, there are a lot of television shows and internet articles about scary things. It made me think that as an insurance agent errors and omissions aficionado, what is it that scares me and, in turn, what should scare YOU?