If you've been in business more than a year or two you know people file lawsuits over the darndest things. They don’t usually win but that doesn't stop some folks from trying, and you still spend time and money defending your business and professional reputation. Among insurance agents, General Liability and Property and Casualty professionals typically see more Errors and Omissions claims. But Life and Health Agents face similar risks, and the top sources of professional liability complaints … [Read more...]

Is your paperwork in order? Do you know when your Errors and Omissions insurance expires? Do you know what CIUs you need and when to renew your professional license? If you can’t answer a convincing, “Heck, Yes!” to all those questions, a few organizational moments are in order. Get Your E&O Insurance Paperwork In Order   Start with renewal dates for your professional license and professional liability insurance. Once you have them in your calendar, back up two months. Aim … [Read more...]

Small business owners wanting to buy business insurance online have been at a disadvantage. Many business insurance websites invite shoppers to buy coverage but instead provide quotes and connection to an agency or broker. One-stop, direct sales of insurance products for small businesses has been limited. Services Are Going Online That is changing, and at Get Insured 24/7 we’re excited to on the forefront of a trend that makes life - and business - easier for you. Here Life and Health … [Read more...]

Forgetting to timely pay a credit card bill means a fee, a possible interest rate hike,  jump in the card’s interest rate, and, if you make a habit of it, a drop in your credit rating. Forgetting to renew your insurance agent professional liability coverage can have more serious - and expensive consequences. A gap in coverage, even a short one, greatly increases your risk and financial exposure. It also means when getting a new Errors and Omissions policy, you’ll pay more for it. Most … [Read more...]

In a perfect world, professionals like you wouldn't need E and O insurance. All transactions would unfold without a glitch, all clients would be happy and we wouldn't even need regulatory bodies because people just did what they should. All the time. We don’t know where that world is. We do know mistakes happen because people are not perfect. We also know that following some common-sense rules in how you conduct business will minimize the chance you’ll be hit with an Errors and Omissions … [Read more...]

Having Errors & Omissions coverage protects you when claims are filed, but you can take steps to reduce the likelihood that claims will be filed in the first place. We’ve assembled some tips to help prevent a professional liability claim. The first five in part 1 are about direct client interaction. In part 2 there are five additional tips on avoiding an E and O claim that are about general business practices or professional standards. 1. Fact-Find First Take time at the outset to get a … [Read more...]