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...]

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...]

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...]

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...]

After you’ve been in business for any time at all, someone will accuse you of dropping the ball and doing something or not doing something that caused them a financial loss. Do not panic. If a client calls, emails, texts, or sends a letter through snail mail making such a complaint. Recognize the communication for what it is - the beginning of an Errors and Omissions claim. Your unhappy client may not use the words “errors and omissions,” “E & O” or “professional liability,” but it is … [Read more...]

Boston is all but buried in snow. Parts of New York and New Jersey have yet to recover from 2012’s Superstorm Sandy. The paper files of many Mississippi and Louisiana insurance agents became fish food years ago, when Hurricane Katrina washed away entire buildings. Hard drives didn’t fare well, either. Multiple studies suggest the tornado season is peaking earlier, with more wild, unpredictable swings from year to year. And don’t forget earthquakes. Have we grabbed your attention? Key … [Read more...]

Young adults and insurance products are not well acquainted. As a generality, they distrust the financial markets more than their Baby Boomer parents and lump discretionary insurance policies in the same bucket. One 2014 industry survey found only 36 percent of adults under 30 have life insurance, compared with 60 percent of those ages 30 to 49. The rate of disability coverage is even less - 13 percent of those age 18 to 29 have disability insurance. Among consumers between the ages of … [Read more...]