E&O Prevention
Strategies for the Professional Agent
April 21, 2016 
 





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AOA News, Views, Tips & More
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Dear (Contact First Name),

AgentsofAmerica.ORG  mission is " Bringing the Best Together" we are committed to selecting and delivering highest level of content dealing with both topical issues and subject matter, including offering products, information and services that will not only save you time but also create more revenue opportunities. We are an organization dedicated to the personal and professional growth of insurance agents.  The key to your success and "Avoiding E&O Claims" is understanding what is important to you and more importantly understanding protecting and enhancing your three most important assets: Agency Reputation, Client Base, and Staff

Thru our partnership, alliances and affiliations with the industry leading experts and providers, AOA has become one of the nation's leading resources for connecting agents with industry professionals, highly relevant news, agency revenue building products, risk management & loss prevention services, career opportunities and continuing education.  For more tips, news, views and resources for your insurance agency, visit   Agents of America  and subscribe to our newsletter.

Cyber Insurance Disputes: Will Arbitration Clauses be a Battleground?
By Joshua Gold, Esq. and Peter A. Halprin, Esq. of Anderson Kill P.C. 

Commercial insurance companies are marketing cyber risk policies with messages such as, "Just about any organization that uses technology to do business faces cyber risk." In response to such risk, insurance companies are offering scores of "cyber" insurance products that get tweaked regularly and vary greatly in quality and terms. That lack of uniformity foretelles coverage disputes and litigation over insurance coverage for cyber claims began to emerge recently.  Read More

Use Of Personal Cloud-Based Document Accounts Requires New Strategies By Employers
By V. John Ella, Esq. and Jillian M. Flower, Esq. of Jackson Lewis P.C.

Whether Google Docs, Dropbox, or some other file sharing system, employees, especially millennials and other digital natives, are increasingly likely to set up personal cloud-based document sharing and storage accounts for work purposes, usually with well-meaning intentions, such as convenience and flexibility. Sometimes this is done with explicit company approval, sometimes it is done with tacit awareness by middle management, and often the employer is unaware of this activity.   Read More
   
Insured's Late Notice Dooms One Insurer's Claim against Another
By Robert Tugander, Esq. of Rivkin Radler LLP

An appellate court in Illinois, affirming a trial court's decision, has ruled that an insurer could not recover a settlement payment from another insurer, where the insured failed to timely notify the insurer of the underlying action.  Read More
   
By Donald A. O'Brien, Esq. of Hinshaw & Culbertson LLP

Defendant, an insured construction inspection firm, stored its computer data offsite on servers owned by plaintiff technology firm. When the technology firm experienced a crash of its servers after an electrical surge, all of the insured's data was lost. The insured had a longtime relationship with third-party defendant insurance agent and his agency which provided a variety of insurance coverages for the insured. Indeed, the agent and the principal of the insured met three times every year to review their existing coverage.  Read More
  
Open Communication and Collaboration Make Campus Networks Vulnerable to Cyberattack
By Scott Sweeney, Esq. and Elayna M. Fiene, Esq. of Wilson Elser

Institutions of higher education face growing threats from cyber attackers. Instances of attacks on universities are increasing, with recent large-scale attacks at some of the country's top universities. Approximately one third of all security breaches take place in higher education; only the health care sector has been breached more often.   Read More

 

In Essex Insurance Company v. Galilee Medical Center S.C d/b/a MRI Lincoln Imaging Center, the insured, Galilee, represented to its insurer, Essex, that it did not offer any weight loss drugs to its patients. After a former patient brought suit against Galilee based on complications from injections of a weight loss drug, Essex sought to rescind its policy. The Seventh Circuit Court upheld summary judgment granted to Essex, finding that false statements made by Galilee provided a basis for rescission.  Read More

By Mark W. Freel, Esq. of Locke Lord LLP

Federal courts around the country will be granted broad original jurisdiction over virtually all trade secrets litigation if the U.S. House of Representatives passes the Defend Trade Secrets Act of 2015 (DTSA) in the form already unanimously approved by the U.S. Senate on April 4, 2016. The White House has already stated its strong support for the bill.  Read More

Bootstrapping Expert Testimony - Restrictions on Using Records from a Treating Physician to Challenge Plaintiff's Expert at Trial
By Michael S. Levenson, Esq. of Marshall Dennehey Warner Coleman & Goggin, P.C.

The opinions of a treating physician can be persuasive evidence on causation and damages, often carrying great weight with a jury. However, even treating doctors are considered "experts," and limits are placed on using their "reports" at trial in the absence of live testimony.  Read More

Insurers Must Exercise Caution in Denying PIP Claims Without Sound Medical Evidence or Risk Exposure to Claims Of Bad Faith
By Dana M. Kanellakes, Esq. of Tressler LLP
 
The court held, in McGee-Grant v. American Family Mutual Ins., 2016 WL 126429 (W.D. Wash. Jan. 12, 2016), that the insurer violated Washington's Unfair Claims Settlement Practices Regulation 284-30-370 by failing to complete its investigation within 30 days and acted in bad faith by denying a claim without a medical basis; and deciding to refuse payment prior to an independent medical examination (IME) or medical records review.  Read More

Letter From  the Publisher
Protecting Your Reputation

As every Insurance Agent knows, their most important asset is their reputation, it takes years to build and just one mistake to ruin. Understanding the issues is the first steps in avoiding E&
O Claims. AOA has created a three book series dealing with 56 different E&O topics and issues agents face every day. Enter promo code
WPD20 at checkout for an additional 20% discount.

 
Book One - 
A Comprehensive Guide To Avoiding E & O Claims
 
Book Two - 
E&O Exposures in the Sales Process

Book Three - 
E & O Exposures By Line of Business

 

Demotech, Inc.
Since 1985, Demotech, Inc. has served the insurance industry by assigning accurate, reliable and proven Financial Stability RatingsĀ® (FSRs) for Property & Casualty insurers and Title underwriters. FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer.  You can search the most current FSRs Here Also check out their new videos Consumer Reference on Insurer Financial Analysis and Thoughts on Insurer Financial Analysis
 
Do You Need Continuing Education?
Complete your entire  State-Required CE Online with WebCE!   AOA has partnered with WebCE, a leading nationwide provider of Continuing Education for insurance professionals to provide you with state-approved self-study CE courses to satisfy your CE requirements online!  Check out your  CE State Requirements.  

Is Your Insurance License Renewing Soon?
Is your agency licensed in multiple states? Does your agency maintain nonresident licenses? Do you know when renewals are due? Did you know a resident change requires address changes in the states in which an individual holds licenses? If you need assistance with any of your licensing needs go to the experts Supportive Insurance Services.

This edition reflects all of the pertinent changes in the surplus lines laws and regulations of the 50 states and U.S. territories during the past year. We sincerely trust you will find this manual to be a valuable desk reference and if you have any questions regarding the contents, please contact John P. Dearie, Jr., Esq. Editor and Partner at Locke Lord LLP at  jack.dearie@lockelord.com  or (212) 912-2737


Ernst & Young
The 2016 Sensor Data Survey "Disrupt or be disrupted"
 
Ernst & Young surveyed senior executives from nearly 400 insurers around the globe, the survey addressed both current practices and plans for tomorrow. The results make clear that forward-looking and top-performing insurance organizations are already innovating with telematics, wearable technology and sensor data, though not to the extent of leaders from other sectors. Why is sensor data so important to insurers in particular? On the strategic front, it presents a clear and compelling opportunity to reengineer the fundamental value proposition through transformative product innovation to benefit customers and shareholders. CLICK HERE
 

Deloitte
Regulatory Top Regulatory Trends For 2016 In Insurance 
 
This publication is part of the Deloitte Center for Regulatory Strategies cross-industry series on the year's top regulatory trends. This annual series provides a forward look at some of the regulatory issues we anticipate will have a significant impact on the market and our clients businesses in the year ahead. CLICK HERE

 
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"Bringing the Best Together"
Angelo J Gioia
Publisher

"The world is in greater peril from those who tolerate or encourage evil than those who actually commit it."  -- Albert Einstein, theoretical physicist

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