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Home » E&O Claim Scenarios

E&O Claims Scenario: Dangers of Interpreting Retirement Plan Benefits

Posted October 28, 2020 by James Leave a Comment

Sharpen Your Skills With Our E&O Claim Scenarios We believe that insurance professionals can improve the service that their clients receive by sharpening their professional skills by looking over case studies and scenarios that have led to E&O claims. Facts A client had served ten (10) years in the U.S. military before an honorable discharge.  Subsequently, he went to work as a federal employee for over twenty (20+) years.  The client came to agent seeking advice on retirement … [Read more...]

Filed Under: E&O Claim Scenarios Tagged With: E&O Claims

E&O Claims Scenario: The Dangers of Assuming an Unowned Duty

Posted April 22, 2020 by James 9 Comments

Sharpen Your Skills With Our E&O Claim Scenarios We believe that insurance professionals can improve the service that their clients receive by sharpening their professional skills by looking over case studies and scenarios that have led to E&O claims. Facts An agent sold a life insurance policy to a client, with whom the agent regularly conducted other business activities. The client elected to make quarterly premium payments. The beneficiary of the life policy was a trust setup on … [Read more...]

Filed Under: E & O Insurance, E&O Claim Scenarios

E&O Claims Scenario: Know Your Client

Posted April 15, 2020 by James Leave a Comment

Sharpen Your Skills With Our E&O Claim Scenarios We believe that insurance professionals can improve the service that their clients receive by sharpening their professional skills by looking over case studies and scenarios that have led to E&O claims. Facts An agent sold a fixed annuity, specifically a Single Premium Immediate Annuity (“SPIA”), for Three Hundred Thousand Dollars ($300,000) to a 69-year old woman who died unexpectedly after receiving only two distributions totaling … [Read more...]

Filed Under: E & O Insurance, E&O Claim Scenarios

E&O Claims Scenario: Single Premium Immediate Annuity Sale – What Would You Have Done Differently?

Posted November 4, 2019 by James Leave a Comment

Sharpen Your Skills With Our E&O Claim Scenarios We believe that insurance professionals can improve the service that their clients receive by sharpening their professional skills by looking over case studies and scenarios that have led to E&O claims. Facts An agent sold a fixed annuity, specifically a Single Premium Immediate Annuity (“SPIA”), for Three Hundred Thousand Dollars ($300,000) to a 69-year old woman who died unexpectedly after receiving only two distributions totaling … [Read more...]

Filed Under: E & O Insurance, E&O Claim Scenarios

E&O Claims Scenario: Mixing Qualified Money and Variable Annuities

Posted April 10, 2019 by James Leave a Comment

Sharpen Your Skills With Our E&O Claim Scenarios We believe that insurance professionals can improve the service that their clients receive by sharpening their professional skills by looking over case studies and scenarios that have led to E&O claims.   FACTS: The Client comes to Agent with an IRA valued at $250,000.  The investments in the IRA are relatively conservative, well-known mutual funds.  This IRA represented just a small amount of the Client’s overall net worth.  … [Read more...]

Filed Under: E & O Insurance, E&O Claim Scenarios

E&O Claim Scenario: Disability Insurance – Are You Certain What You Are Selling?

Posted March 12, 2018 by James Leave a Comment

Sharpen Your Skills With Our E&O Claim Scenarios We believe that insurance professionals can improve the service that their clients receive by sharpening their professional skills by looking over case studies and scenarios that have led to E&O claims.   FACTS: An agent sold the Claimant (a dentist) an individual disability policy and a business overhead expense (BOE) policy for her practice through ABC Insurance Company. Based on the agent’s prior experience with … [Read more...]

Filed Under: E & O Insurance, E&O Claim Scenarios, Life & Health

E&O Claims Scenarios: Improper Completion of Life Application

Posted September 12, 2017 by James Leave a Comment

The Claim of Material Misrepresentation on a Life Insurance Application   Sharpen Your Skills With Our E&O Claim Scenarios We believe that insurance professionals can improve the service that their clients receive by sharpening their professional skills by looking over case studies and scenarios that have led to E&O claims. Facts The agent assisted his client with the completion of an application for a $500,000 life insurance policy. The application was completed and submitted … [Read more...]

Filed Under: E & O Insurance, E&O Claim Scenarios, Life & Health

E&O Claims Scenario: The Claim of Failure to Advise of Coverage Options

Posted July 30, 2017 by James Leave a Comment

Sharpen Your Skills With Our E&O Claim Scenarios We believe that insurance professionals can improve the service that their clients receive by sharpening their professional skills by looking over case studies and scenarios that have led to E&O claims. Facts The agent sold the client a disability income policy, which provided benefits of $5,000 per month until age 65. The client became disabled when he was 55 years old, and the insurer commenced payments under the policy. However, … [Read more...]

Filed Under: E & O Insurance, E&O Claim Scenarios

E&O Claims Scenario: Did the Agent Misrepresent a Long Term Care Policy?

Posted April 20, 2017 by James Leave a Comment

Sharpen Your Skills With Our E&O Claim Scenarios  We believe that insurance professionals can improve the service that their clients receive by sharpening their professional skills by looking over case studies and scenarios that have led to E&O claims. Facts An agent sold his client a long-term care policy, after representing that it would provide comprehensive protection in the event that he was confined to a nursing home. The client, who was 75 years old, became ill and needed … [Read more...]

Filed Under: E & O Insurance, E&O Claim Scenarios

E&O Claims Scenario: The Claim of the Missing Application

Posted February 2, 2017 by James Leave a Comment

Sharpen Your Skills With Our E&O Claim Scenarios We believe that insurance professional can improve the service that the client receives by sharpening their professional skills by looking over case studies and scenarios that have led to E&O claims. Facts The agent took an application for a $100,000 term policy insuring the life of the client. The application was completed, but the client was not provided with a conditional receipt or binder. The agent gave the application to his … [Read more...]

Filed Under: E & O Insurance, E&O Claim Scenarios

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