E&O Prevention
Strategies for the Professional Agent
June 9, 2016 

Top D&O Settlements of 2015

AOA News, Views, Tips & More
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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.

Minimizing the Risk of Workplace Violence During Employee Terminations
By Kathleen M. Bonczyk, MBA, Esq.

According to the Occupational Safety and Health Administration ("OSHA"), approximately two million American workers experience workplace violence each year.  As if this statistic is not troubling enough, OSHA advises that the actual figure could be much greater. This is because the agency believes that certain episodes of workplace violence may go unreported Read More

Agent Had No Duty to Produce Additional Insurance Coverage For Lost Rent and Soft Cost Without a Specific Request
By Donald A. O'Brien, Esq. of Hinshaw & Culbertson LLP

Plaintiff, a property management company, was seeking a builder's risk insurance policy to cover an apartment building under construction. The Plaintiff's president had discussed with Defendant Insurance Agent a policy that covered lost rent and other soft costs such as interest. Ultimately, he asked the Agent to procure a second policy written by a different carrier that was cheaper, but did not contain additional coverage for lost rent and other soft costsRead More
Monitoring Employee Communications: A Brave New World
By Karla Grossenbacher, Esq. of Seyfarth Shaw LLP

Over the last decade, communication via email and text has become a vital part of how many of us communicate in the workplace. In fact, most employees could not fathom the idea of performing their jobs without the use of email. For convenience, employees often use one device for both personal and work-related communications, whether that device is employee-owned or employer-provided.  Read More

Complaints about hiring millennials make big news. People say Millennials are lazy, uninterested in working, and goof-off a lot.  "It's like déjà vu all over again!"  Yogi Berra made that "déjà vu" remark. And that quote perfectly describes current bellyaching about hiring and managing Millennials .  Read More
No Prejudice Needed When an Insured Settles Without the Insurer's Consent
By Michael Lettiero, Esq. and Louis H. Kozloff, Esq. of Goldberg Segalla

In Travelers Prop. Cas. Co. of Am. v. Stresscon Corp., 2016 Colo. LEXIS 419 (Colo. April 25, 2016), Colorado was faced with a choice: enforce the plain and unambiguous terms of an insurance policy or extend the requirement that an insurer prove it was prejudiced by its insured's breach of the policy's conditions before denying coverage.  Read More

By Christopher J. Bannon, Esq. of Aronberg Goldgehn Davis & Garmisa

The U.S. District Court for the Northern District of Indiana recently addressed an important issue for claims-made insurers - the applicable coverage when an insured obtains a new insurance policy running simultaneous with a prior policy's extended reporting period ("ERP"). The court's decision provides important guidance on the meaning of "similar" coverage, as used in common ERP provisions, and whether an ERP applies in that situation.  Read More

The phone rings. The caller ID says it's your attorney's office.  When you answer, you are told you owe your attorney additional money and are directed to call a toll-free number.  When you call the number, you are told how to pay the money owed to your attorney.  Would you pay?.  Read More

Privacy Law and Social Media: Why Employers Should Create and Update Social Media Policies
By Joseph P. Breen, Esq. of Gordon Rees Scully Mansukhani, LLP. 

When can an employer discipline an employee who uses social media to distribute content online that could be detrimental to the employer's business interests? The answer, of course, is "it depends."   Read More

Labor Department Issues New Overtime Rules: Minimum "Exempt" Salary Threshold Raised and Millions of Additional Workers Entitled to Overtime
By Bennett PineEsq. of Anderson Kill P.C.
On May 18, 2016, President Obama and the Labor Department issued the much anticipated final rule regarding overtime regulations, which significantly raises the minimum salary threshold required to qualify for "white collar exemptions" under the Fair Labor Standards Act.  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 Ratings® (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  

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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