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Home » Archives for Mark Lincoln

Mark Lincoln

About Mark Lincoln

Mark H. Lincoln
President and CEO
Get Insured 24/7, LLC

Mark has worked in the insurance industry dating back to 1980. His current focus is the direct to consumer online marketing of insurance products.

Four Reasons Why E&O Claims Are on the Rise

Posted January 9, 2018 by Mark Lincoln Leave a Comment

Taking a look at what’s behind the rise in E & O claims against insurance agents helps them better prevent a suit and defend themselves in the event of one. Some estimates say that as many as one in seven insurance professionals could be named in an E&O claim during their career, while others say the probability is higher. These increased numbers in claims indicate changes in insurance industry operation and the general culture that are driving factors. 1)  Rapidly changing … [Read more...]

Filed Under: E & O Insurance, Life & Health

Top 5 E and O Claims Against Insurance Agents

Posted October 2, 2016 by Mark Lincoln Leave a Comment

When you are on the receiving end of a professional liability complaint, you may feel attacked, insulted or the victim of a random legal dart hurled at your business. Identifying the top 5 E&O claims shows accusations are not random - and gives you and your practice a great guide to reducing the factors that can lead to complaints. Failure to Procure Coverage Leads the List Nearly 1 of every 4 errors alleged involve failure to procure coverage, according to the Independent Insurance … [Read more...]

Filed Under: E & O Insurance

Get Insured 24/7 Offers E&O Aggregate Limit of $3 Million

Posted November 18, 2015 by Mark Lincoln Leave a Comment

There appears to be movement in the insurance industry to ask insurance agents to increase their coverage limits on their professional liability insurance.  Some carriers have recently required a $3 million aggregate limit for some of their life and health agents and other companies could follow the trend. That's Why We're Offering a $3 Million Aggregate Coverage Limit Now We’ve commenced offering an aggregate coverage limit of $3 million option to accommodate those Life and Health Agents who … [Read more...]

Filed Under: E & O Insurance

Life Insurance Agent: With Fee Disclosure, Oversharing is a Good Habit

Posted October 5, 2015 by Mark Lincoln Leave a Comment

As a life insurance agent, assuming your clients understand a product’s fee structure and have read the disclosures can lead to hard feelings, or worse, an errors and omissions claim. That’s what happened in one of our Errors and Omissions Claim scenarios. John, the client, rolled over an old annuity contract into a new one on his Agent’s recommendation. The new annuity had several attractive features, including a 10 percent signing bonus and a guaranteed income rider, but two years of … [Read more...]

Filed Under: Life & Health

Retirements Open Insurance Sector to Young Talent

Posted August 19, 2015 by Mark Lincoln Leave a Comment

Big demographic changes in the insurance sector are opening up career options for Millennial-age people who like the idea of flexible schedules and being their own boss. Such jobs also provide a new career path for older workers downsized during the Great Recession who want a new line of work. In the five years between 2013 and 2018, at least one fourth of the insurance industry’s workforce is expected to retire, according to research from management consulting firm McKinsey & Co. … [Read more...]

Filed Under: Life & Health

3 Eye Opening Affinity Scams & What You Can Do About Them

Posted July 28, 2015 by Mark Lincoln Leave a Comment

The biggest threat to your clients’ financial security may be closer than they think. The Internet and widespread adoption of social media create conditions ripe for affinity fraud, which uses a potential investor’s faith, ethnic background, country of origin and even fondness for football as a lure. The fraudsters are either members of the target group or pretend they are. In almost all cases, the investment is fake or, at the very least, the promoter lies about vital details, … [Read more...]

Filed Under: Life & Health

Lattes, Lunch or Life Insurance – Which Costs More?

Posted July 13, 2015 by Mark Lincoln Leave a Comment

Most U.S. adults greatly overestimate the annual cost of a $250,000, 20-year term life insurance policy, believing coverage costs at least two to three times what it really does. The Average Annual Cost Of Coffee At the same time, people routinely spend more each year on lattes and out-of-office lunch runs than what a standard term policy would cost. For example, the average U.S. adult spends at least $1,100 on coffee drinks outside the home - nearly 3 times more than the annual cost of a … [Read more...]

Filed Under: Life & Health

Monthly Payments Make Affordable E & O Coverage More Accessible

Posted July 7, 2015 by Mark Lincoln Leave a Comment

With direct online purchasing, Get Insured 24/7 made buying Errors and Omissions coverage effortless. Now, Life and Health Agents can spread out the cost of their annual professional liability policy rather than pay a lump sum up front. Pay For Your E&O Insurance Monthly For as little as $34.05 a month, insurance agents can spread out an important cost of conducting business. Our “Monthly Pay Option” involves one payment of  25% down followed by 10 more payments on the first of each … [Read more...]

Filed Under: E & O Insurance

What is the Meaning of Life – Expectancy?

Posted May 1, 2015 by Mark Lincoln Leave a Comment

What is the meaning of Life? Philosophers and religious organizations have asked that question and proposed answers for thousands of years. Life’s meaning fuels coffee shop conversations and late-night ramblings. For better or worse, Life and Health agents don’t need to address the cosmic question. What matters here sounds much more simple - under a given scenario, what does the proposed life insurance policy or annuity consider “life?” The not so simple piece - does your client … [Read more...]

Filed Under: E & O Insurance

Client Risk Assessment Benefits Everyone

Posted April 20, 2015 by Mark Lincoln Leave a Comment

Conducting a risk assessment with new clients makes business and legal sense. On the legal side, a thorough, well-documented risk assessment is invaluable should a client file and Errors and Omissions claim alleging misunderstanding, confusion or unsuitability over an investment product. A complete risk assessment won’t stop an unhappy client from suing you, but it is one of the first items your E & O policy underwriter will ask to see. Three Parts of Risk Assessment The benefits … [Read more...]

Filed Under: E & O Insurance

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