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Several steps agents can take to reduce their general E&O exposure:

Sally: “By far, the most common claim is simply an allegation of failure to place coverage. The most reliable way to prevent these is written documentation that says, ‘This is what I offered you, my customer, and this is what you accepted.'”

Use Coverage Checklists

Sally: “They can range from fairly short and simple to a very detailed one that walks through certain types of coverage that could be appropriate for a certain type of operation.”

Stay Educated

Burand: “Every state association offers E&O classes. Those are great and are offered all the time. Another great resource is the IJ Academy.”

Read, Read, Read

Wilson: “Identify the sources of info you really truly need and focus your time on these.”

Have an Agency E&O Audit

Burand: “It is done by an outside auditor and agents may be able to obtain a discount on their E&O premiums.”

Topics Agencies