There are several different types of insurance agents, divided between independent agents and captive agents, and divided into groups based on the type of insurance being sold. There is tremendous value brought to the consumer in the relationship with an independent insurance agent. Independent agents, like ourselves, represent a large group of companies. This allows us to provide the best rates and coverage available to all our clients. Upon reviewing
What It Is Employment Practices Liability Insurance, also known as EPLI, provides protection to employers against claims made by employees for allegations such as discrimination, wrongful termination, harassment, and negligent violation of federal and state employment laws. Why You Need It The Equal Employment Opportunity Commission (EEOC) handles complaints and enforces the protections provided under Title VII of the Civil Rights Act of 1964.
When receiving a carrier’s quote, inevitably the question is asked “is it admitted or non-admitted?” We always ask it, but do we really understand what the differences are between admitted and non-admitted carriers? And do we know what happens when admitted v. non-admitted carriers go into liquidation? And most importantly, what should the client know? The designation of an insurance company by a state’s Insurance Commissioner as “admitted” may seem to give the company a stamp of authority, however, this designation is
As consumers in a distressed economy, we have all found, and continue to search for, ways to cut costs and save money. Prior to spending a hard earned dollar, we take a closer look at the value of what it is we are purchasing. When it comes to your insurance needs, determining the value of the product and service you are receiving versus the cost can be difficult. A couple examples to consider: • Over the past several years, as E&O premiums have continued to increase,
After exhaustively discussing every aspect of their E&O coverage, most clients are not overly eager to hear about the “other” coverage recommended, in addition to E&O. The mindset seems to be that if a coverage is not required, then it is not a coverage a client should carry. Perhaps it is the additional expense or the time it takes to learn about something new. Perhaps the client still believes “that won’t happen to me”. Regardless, there may always be an
Your Errors and Omissions policy contains specific language defining what is covered as professional services under your policy. Most of our title agent clients have a professional services definition of “title agent services,” leaving the definition broad enough to cover many of the miscellaneous related services they provide. In recent years, there has been an increase in professionals providing services in multiple related roles within the real estate industry. This is outside of what an insurance company
Ten years ago, many title underwriters did not require their agents to carry E&O coverage. Five years ago, most underwriters made that a requirement. Today, the coverage you may have previously questioned as necessary possibly saved your business when you had your first claim. Your professional liability coverage is one of the most important pieces of your business. Just like all lines of insurance, your E&O is in place to protect against a possible loss.