E&O Prevention
Strategies for the Professional Agent
March 24, 2016 
 





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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.
2016 Excess & Surplus Lines Laws
We are happy to provide the  2016 Edition of Locke Lord LLP's Excess and Surplus Lines Law Manual.  

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
Demotech Sponsors Upcoming FAIR Conference
The Role of Catastrophe Reinsurance in a Wind Exposed Region

 
Join reinsurance companies, ratings agencies, representatives of Citizens Property Insurance Corporation, property and casualty insurance groups and other industry experts on April 28, 2016 from 9:00 a.m. to 4:30 p.m. in Tampa, Florida . For additional information  the event or to purchase your ticket Online CLICK HERE or contact Michael Siska at msiska@floridainsurancereform.org  - (754)200-4623

Non-Party Can Be Bound By Arbitration Provision in Agency Agreement
By W. Burke Coleman of Demotech, Inc. 

An interesting case recently emerged from South Carolina addressing how an arbitration provision in an agency agreement between an insurance company and its agent could bind third parties as well. In Wilson v. Willis, No. 5387, 2016 S.C. App. LEXIS 25 (S.C. Ct. App. Mar. 2, 2016), the South Carolina court of appeals held that third parties suing an insurance company on the basis of its relationship with its agents could not benefit by asserting the insurer's breach of contract and avoid the arbitration provision also within the contract.  Read More

I n The Age of Cyberattacks and Data Breaches-Does Practice Size Matter?
By Reema Sultan, Esq. of Rivkin Radler LLP

Cybersecurity issues in the healthcare industry have proliferated recently, as was proven last year by major hacks related to Premera Blue Cross, Anthem, and the UCLA Health System.   Electronic protected health information ("ePHI") has significant value in black markets, making it a particularly valuable target for hackers. Many insurers and health systems have begun to take steps to prevent cyberattacks which begs the question:  is any organization too small to be hacked?    Read More
  
Insurance Agent Who Provided Carrier's Valuation and Two Competing Quotes Did Not Counsel the Insured and Create a Special Relationship
By Donald A. O'Brien, Esq. of Hinshaw & Culbertson LLP

Cox v. Mayerstein-Burnell Co., Inc. , Case No. 79A05-1402-CT-75; Court of Appeals of Indiana (Oct. 31, 2014) .

Plaintiff Cox's pub had insurance coverage with Society Insurance on its building for $383,000. Plaintiff could no longer afford to pay the premiums and let the Society policy lapse. Plaintiff's manager contacted defendant insurance agent about a replacement policy advising that it was uninsured and due to financial difficulties desired to keep its premiums as low as possible. The manager provided the agent with a copy of the declarations page from the Society policy and requested the same coverage in the new policy.  Read More
  
By Jason C. Gavejian, Esq. of Jackson Lewis P.C.

Recognizing the growing number of connected and interconnected devices, a bipartisan group of Senators recently introduced a bill  which would convene a working group of Federal stakeholders to provide recommendations to Congress on how to appropriately plan for and encourage the proliferation of the Internet of Things (IoT) Read More
  
Top 10 Financial Institution Considerations for 2016: #3 - Cybersecurity
By Bart W. Huffman, Esq., Joseph E. Silvia, Esq. & Charles M. Salmon, Esq. of Locke Lord LLP

In our initial article announcing our top 10 considerations for financial institutions in 2016, which can be found  here , our third consideration was cybersecurity. Perhaps one of the biggest challenges facing financial instructions in the near future is the balancing of cybersecurity risks with normal business operations. Cybersecurity risk is frightening, but understanding the risks based on your specific institution is a critical starting point to appropriately address related concerns. Financial Institutions of all sizes need to face their fears in this area head on by making sure they have developed policies and procedures based on risk assessments, and drafting and practicing incident response plans, as was first enunciated in the FTC Safeguards Rule years ago.  Read More

By Thomas Paschos, Esq. of Thomas Paschos & Associates, P.C.

In Ramara, Inc. v. Westfield Ins. Co., 2016 U.S. App. LEXIS 2656 (3d Cir. Pa. Feb. 17, 2016) a Philadelphia parking garage owner, Ramara, Inc., had engaged Sentry Builders Corp. as a general contractor to perform work at the garage. Sentry, in turn, engaged a subcontractor, Fortress Steel Services, Inc., to install concrete and steel components as part of the work. Pursuant to its subcontract agreement with Sentry, Fortress purchased a general liability insurance policy from Westfield Insurance Co. naming Ramara and Sentry as "additional insureds."  Read More
By Seth L. Laver, Esq., Michael P. Luongo, Esq. and Jonathan S. Ziss, Esq. of Goldberg Segalla

Unmanned aircraft, more commonly known as drones, are becoming increasingly popular in the civilian market.  Advances in technology have made drones easier to fly and have expanded their utility for recreational users.  Businesses likewise view drones as a new tool to increase their operations and bring new value to consumers.  For instance, Amazon, recently unveiled its plans to use drones to make same-day deliveries to customers. But what liability issues await?  Read More

Have Your Cake and Eat It, Too? Handbook Contract Disclaimers & Mandatory Arbitration Policies
By Kevin C. Donovan, Esq. of Wilson Elser

A New Jersey court recently used the so-called contract "disclaimer" language in an employer's handbook to preclude the employer from enforcing a mandatory arbitration program contained in that same handbook. The court's decision must of course be considered by employers who wish to enforce alternate dispute resolution procedures without falling into the same trap. However, as also shown herein the decision appears contrary to federal policy, enforced by a series of U.S. Supreme Court decisions that strongly favor enforcement of arbitration agreements.  Read More

Court Holds FBI's Gender-Based Physical Training Standards Constitutional
By Alan Jampol of Jampol Zimet LLP
 
On January 11th, the federal 4th Circuit Court of Appeal held in Bauer v. Lynch (4th Cir. 2016) __ F.3d __, 2016 WL 105359 that the FBI did not violate Title VII rules against sex discrimination when it applied different physical standards to men and women.  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 .
 
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.

Excess & Surplus Lines Laws
We are happy to provide the 2015 Edition of Locke Lord LLP's Excess and Surplus Lines Law Manual.

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
 
 
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Angelo J Gioia
Publisher

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