E&O Prevention
Strategies for the Professional Agent
October 13, 2016 
 




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.
Using Analytics to Predict Future Attacks and Breaches
 

The pace and sophistication of data breaches is growing all the time. Anyone with valuable secrets can be a target, and likely already is. According to the Privacy Rights Clearinghouse, at the time of this writing, 884,903,517 records were breached in 4,621 incidents documented since 2005.   CLICK HERE
Understanding The Common Causes of Insurance Agents E&O Claims

Claims made against insurance agents can derive from many sources, these include quoting and proposing coverage, incomplete and inaccurate applications, written and verbal binders, uninsured exposures, including many others.    CLICK HERE
 

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Sharing of Passwords Under Certain Circumstances Unlawful
By Jeffrey M. Schlossberg, Esq. of Jackson Lewis P.C.  

Many companies have experienced the departure of an employee and the elimination of that former employees access to the company's computers and networks. In the recent case of USA v. Nosal, D.C. No. 3:08-cr-00237-EMC-1 (July 5, 2016), the Ninth Circuit Court of Appeals was presented with the following facts:  Nosal, a former employee of Korn/Ferry departed and launched a competitive entity.  Read More

Three Common Misconceptions About Non Profit Insurance Coverage
By Phil Wightman CEO of SteelBridge Insurance Services

When you're a non-profit organization purchasing insurance coverage, it's important to understand in detail what you're receiving and why. Insurance in general can be a minefield of myths and misunderstandings. Plenty of people in charge think they have coverage that they don't, and many think they're financially liable for something that they're actually paying to be protected against .   Read More
   
Frying Pan or Fire? Policyholders Beware the Strange Incentives in "Burning Limits" Liability Insurance Policies
By William G. Passannante, Esq. of Anderson Kill P.C.

We buy liability insurance policies to protect against claims, and the average policyholder expects that their insurance company and the defense counsel they pay for are united in interest to protect the policyholder from lossOne way that this unity of interest has been promoted has been the traditional "defense outside of limits" insurance policy.  Read More
   

The Securities and Exchange Commission's mission is to protect investors, maintain fair, orderly and efficient markets, and facilitate capital formation. Some of the SEC's tools include its ability to weigh-in on issues of corporate governance and to drive change both through mandates and required disclosures.   Read More
  
Wearable Device Data: The Next Big Thing for Employment Litigation Cases
By Karla Grossenbacher. Esq. and Selyn Hong, Esq. of Seyfarth Shaw LLP

Wearable device data may be the next big thing in the world of evidence for employment cases since social media. Given that it has already been used in personal injury and criminal cases, it is only a matter of time before wearable device data is proffered as evidence in an employment case.  Read More

By Michael Zimmermann, Esq., Andrew Paine, Esq. and Luke Glisan. Esq. of Tressler LLP

In an opinion issued on August 9, 2016, the Illinois Attorney General's Office found that private emails may be considered public documents. While there was never a safe harbor for private emails in the past, some had viewed them beyond the reach of Illinois FOIA.  Read More

Combating Insurance Fraud The Continuing Fraud Fight
By Howard Goldblatt

Insurance fraud is considered the second largest financial crime in the U.S., behind only tax fraud. Estimates vary, but insurance fraud steals at least $80 billion a year. This is the Coalition Against Insurance Fraud's estimate, which is conservative and widely accepted as a reasonable figure.  Read More

Using the Affordable Care Act in Defense of Catastrophic Personal Injury Cases
By Kent M. Adams, Esq. and Allison R. Edwards, Esq. of Wilson Elser 

Courts across the country are beginning to consider the argument that the Affordable Care Act (ACA) serves as a vehicle to limit a plaintiff's claim for future medical damages. Plaintiffs often use exaggerated life care plans with significant damage calculations to support their future medical damages in catastrophic injury cases Read More

3 Essential Steps For Responding To Ransomware Attacks
By Damon W. Silver, Esq. of Jackson Lewis P.C.
 
Likely because 
most victims comply 
with their demands, the incidence of attacks by ransomware hackers has exploded in 2016. Guidance issued by the U.S. Department of Health and Human Services ("HHS") in July notes that, on average, there have been 4,000 reported ransomware attacks per day thus far in 2016, far exceeding the average of 1,000 attacks per day last year. 
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
 
Announcing Cyber Insurance News

Cyber Insurance News is the industry's new meeting place for cyber insurance professionals.  It is a leading resource for Cyber Insurance and Security for cyber risk news and information. A meeting place for insurers, insurance producers, defense counsel, and security consultants to meet and be able to share their products, company information and use as a medium to engage their clients. For more information  CLICK HERE

Crittenden Inside Insurance Report
Crittenden's Inside Insurance Report offers readers vital analysis of commercial insurance including the excess and surplus, medical professional liability, and main street markets. This report provides readers with in-depth, behind-the-scene information on specific programs and segments, pertinent financial information, and predictions of market trends and carriers' actions. Inside Insurance is an invaluable resource for producers who want details on which carriers are actively writing coverage, their target markets and underwriting details. With our service you can effortlessly build leads and relationship while remaining abreast of the market and the competition. For additional information  CLICK HERE  or call (800) 421-3483

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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Angelo J Gioia
Publisher

"People will forget what you said. People will forget what you did. But people will never forget how you made them feel." 
Maya Angelou, Writer

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