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If you have never had an errors and omissions (E&O) claim – and hopefully you never will – you might have some misconceptions about E&O coverage and E&O claims. We’d like to clear up six that we come across frequently. Click Here for 2-page PDF
I Bet the Named Insured Doesn't Own the Building! Have You Asked? 
Never assume the named insured owns the building. You need to ask what seems like a ridiculous question because ownership of the building may be held by another "person" related to the operation. The president of the corporation may own the building personally, but in his mind there is no difference. Not protecting the actual owner can create a huge gap in coverage.
Errors & Omissions Prevention
  • Omission on a Certificate of Insurance Resulted in an Agency E&O Lawsuit 
  • An Agent Who Fails To Report a Claim Ends Up in Court 
  • Agent Wins in Court on an Excess Liability Claim 
  • Insolvent Insurer results in Agency E&O Claim
  • Agency Defeated in Court after it Omitted UIM on an Umbrella Policy 
  • E&O Tip on "Your E&O limit - some things you need to know" (561 words)
  • http://agentsofamerica.org/page.php?id=1494
  • E&O Tip on Account Reviews - is your agency at least making the offer?
  • http://agentsofamerica.org/page.php?id=1502
  • E&O Tip on Does your Homeowners Policy cover Social Media?
  • http://agentsofamerica.org/page.php?id=1509
  • E&O Tip on "Policy rescission - potentially your worst E&O nightmare?"
  • http://agentsofamerica.org/page.php?id=1522
  • E&O Tip on "Claims Made" vs "Claims Made & Reported"
  • http://agentsofamerica.org/page.php?id=1529
  • E&O Tip on "When a customer's signature didn't help"
  • http://agentsofamerica.org/page.php?id=1550
  • E&O Tip on "Do all of the employees in the agency know what is expected of them?"
  • http://agentsofamerica.org/page.php?id=1556
  • E&O Tip on "Breaking News Story - Insurance Carriers Are Suing Their Agents!"
  • http://agentsofamerica.org/page.php?id=1581
  • E&O Tip on "Have you looked lately how you are promoting yourself and your agency?" http://agentsofamerica.org/page.php?id=1593
Errors & Omissions Prevention
Agency E&O Case: False Information, Forged Signature and Policy Exclusion

This Lesson sponsored by

Do you need a fast quote on Errors & Omissions insurance?
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Claims? New in Business? Cancellation? We can help!
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Call (770) 855-4723 or visit our website at http://klowensassociates.com. Feel free to send and e-mail request to infor@klowensassocaites.com.

Errors & Omissions Prevention
  • Agency that provided misinformation about policy could be charged with Fraud 
  • Agency Prevails in “Full Coverage” E&O Lawsuit, However its Reputation Suffers 
  • Insurance Agency Prevails against former Client on Claim that Occurred after Non-Renewal ​
Insurance Coverage en Español
http://www.iii.org/es/insurance-topics/all-coverage-en-espanol
​Is Policy Language Always Sufficient?
Insurance policies are simply contracts and, when disputes arise, policy language is often relied upon to support arguments for or against coverage. This is a major reason why clear wording is very important. Court cases are a significant source that triggers changes in policy language. They may occur either through the impact of actual cases or indirectly through changes in law that have their origins in addressing wider spread situations on how insurance responds to certain types of losses. Examples involve confusion over water-related losses, concurrent causes of loss and confusion over how the word “insured.”
With regard to more parties being granted insured status, insurers recognize that coverage obligations should be extended under certain circumstances. However, carriers want to have sufficient knowledge of parties that they may be obligated to reimburse or defend against claims.

Click here for an excerpt of wording on “Who Is An Insured” found in the ISO Commercial General Liability’s coverage analysis in PF&M.
​By all means tell the world how good you are — but share the credit and reserve the blame.
You should let others know of your achievements, with these provisions: Do it with your actions first and make sure you share the credit with others who helped you along the way. A fundamental principle of leadership that has not changed over the centuries is: Share the credit for success with others, but take the blame for failures alone.

If you appreciate the kindness shown you by others, say it with actions as well as words.
​The people who enjoy the greatest financial and personal success in life are those who build lasting relationships — with business associates, friends, co-workers, and others. They take the time and trouble to stay in touch, and they make sure that when someone does a good deed for them, they respond in kind. Build your network of personal and professional friends by taking the initiative and being a friend.
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Attention: Georgia Agents! 24 hours CE for $24 or join GIAA for $99 per year and it's free for all agency staff!​Have you enjoyed at least 24 hours of Edu-Tainment?
If yes, you are welcome to take the Final Exam 
Otherwise, click here to continue to next lessons
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Got Questions?
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Eddie K. Emmett 
200 Russell Court
​Canton, GA 30115
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eddie@fyiexpress.com
(770) 312-2342 (Text)
​I'll call you back!

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