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Agency Management

“One River, 2 Currents: How the Standard of Care and Day to Day Reality Differ

“What are some of the additional problems raised however by following the concept of being only an order taker? You have a customer that comes in your office who says I have a business and I need insurance. What do you recommend? How does in the insurance agent or broker therein not give advice by answering the question. Are they supposed to say

“what is it you’re worried about? We have numerous commercial policies we could provide , then we could confirm we will provide it depending on what your needs are and as you know, you must have Worker’s Comp. Perhaps you might consider should insuring your property, or consider insuring your business for liability. What are your concerns and what are your needs? “

I can’t imagine any consumer of any kind would want to do business with a broker that would fail to advise them as to what might be needed. But let’s take it a step further. I don’t know any Insurance Broker that would advertise that they have no duty to advise, guide or direct clients as to the appropriate types of insurance coverages for its business operations. But there is another reality that is ignored. That is, your average insurance agent or broker with five years experience in any line, whether it be Personal Lines, like homeowners and auto, or Commercial lines knows more about the ins and outs and extensions to coverage of the insurance policy and what may be needed by an Insured than any Insured regardless of sophistication.”

COVID-19: E&O Backlash

During this unprecedented time of state-mandated business shutdowns and stay-at-home orders, you cannot afford to risk errors and omissions claims against your agency. An ounce of prevention now could be worth a pound of E&O cure in the future.

Damian J. Arguello

Risk management & insurance thought leader & influencer, law professor, coverage counsel, & insurance expert witness.

Contingent Business Interruption Claims, What Happens When the Loss You Experience is Not Your Own?

In today’s business climate more focus is placed on lean operations. This trend is becoming increasingly more commonplace as corporations are divesting of business lines and returning to core competencies. As decentralization continues to grow and corporations are relying on supply and sales agreements with non-related parties, the impact of a supplier or customer’s loss on a business’ operations increases substantially.

Agency Networks Aid Agency Net Worth

The advantages and disadvantages of joining an Agency Network…and the issues to be considered in selecting a suitable Agency Network.

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Neal Bordenave, JD, CPCU, RPLU, ARM, AIC

Highly experienced insurance industry litigation consultant and expert witness.  Broker/Agent Standard of Care, Claims Handling/Insurance Carrier Bad Faith, Insurance Industry Custom and Practice.  200+ retention’s, 50+ testimony in Deposition, Trial and Arbitration.

Setting Up A ‘Fail-Safe’ Partnership

Partnerships are a “funny” thing. They make so much sense when you are young, eager to expand and enjoy working with each other. They are a natural outcome of mergers and of new, professional, growth oriented additions to an agency.

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