Agents of America
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Visit AgentsofAmerica.org for more information.
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What is AgentsofAmerica.org? __________________________________
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AgentsofAmerica.ORG is an Insurance Agent's Association and indispensable resource for news, products, services, education, and industry information throughout America. The organization's Mission is to deliver the BEST people, products, information, and services to Agents on a daily basis all designed to help them manage and grow their business, increase their revenues and provide ongoing value to their clients. Our motto is "Bringing the BEST Together."
AgentsofAmerica.ORG is offering a FREE MEMBERSHIP to anyone interested in learning about the valuable benefits the new organization offers. All members are eligible for additional discounts and access to an extensive array of other membership programs. |
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This past March, AgentsofAmerica.ORG announced that it was partnering with 25 Industry Experts to create the first ever "E&O Loss Control & Risk Management Program for Insurance Agents and Brokers."
This Book, which will have 26 distinct chapters, represents a collaborative effort of the top E&O insurance attorneys and experts from across the country. Colleen M. Murphy, Esq., Partner and Chair of Goldberg Segalla's Insurance Agents and Brokers Errors and Omissions practice sub-group, is the editor of the book and creator of its Table of Contents.
Since our initial announcement, we have received a number of inquiries from both insurance companies and other professional organizations wanting more details, including wanting to know how to get involved. This month we are releasing the Table of Contents for the 26 chapters to be included within the publication for your review.
The book when published will provide E&O loss control techniques and a compendium of the relevant law from the quoting process up through claims reporting. It also features special chapters on licensing, security and privacy, social media, and placements in the London market, as well as best practices check lists for hands-on use at the agencies and brokerages. AOA is in the process of partnering with a third-party provider to obtain continuing education accreditation for the project, which will serve as a platform for the creation of E&O loss control webinars and seminars.
This month's poll question:
How do you purchase your E&O Insurance?
1. Direct Placement with the insurance carrier
2. Work with a specialty broker
3. Purchase it via a sponsored program
4. Purchase it via an association affiliation
Again, we want to thank everyone for their support. Remember to tell your friends and business associates that AgentsofAmerica.ORG is now offering FREE MEMBERSHIP.
"Bringing The Best Together"
Brit Weimer, Esq.
Fences and Neighbors
By Charles T. Wilson, CMC, CRM, RPLU
"Good fences make good neighbors." ~ Robert Frost, Mending Wall
Risk managers and careful business owners definitely equate contracts and agreements with Robert Frost's fences. The poet doesn't explain the connection between fences and neighbors, but we can guess: good fences, like good agreements, clearly delineate property, responsibility, certain risks and expectations, to name but a few. And the best agreements, like well-made fences, may never, or rarely, need mending.
E&O Carrier Owed No Duty to Defend "Ponzi-like" Securities Claims Arising From Sale of Unauthorized Securities
By Devin C. Maddox, Esq.
A representative of Sunset Financial Services misappropriated funds investors gave him to purchase promissory notes through a separate unaffiliated entity he operated. The 8th Circuit ruled that coverage for investor and SEC lawsuits arising from these activities was barred by an exclusion in the E&O policy that precluded coverage for claims involving securities not authorized or approved by Sunset. Thus, the insurer owed no duty to defend. Behrens v. Arch Ins. Co., 10-2197, 2011WL350436 (8th Cir. Feb. 7, 2011).
Read More...
E&O Loss Prevention Tip Description of Claim:
By Brown & Brown
While it may seem like common sense, failure to understand the features and coverage of the products you sell lead to a large majority of E&O claims. For the most part, the needs of Personal Lines clients tend to be basic but mistakes are still made by agents who assume that all policies have the same coverage.
Read more...
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The Art of Asking Questions
By Michael Beck
Mastering the Art of Asking Questions is essential if you want to succeed. It's not simply a matter of getting in the habit of utilizing questions in your interactions with people. It's really about learning how to ask the right questions at the right time.
Read More...
Paying Policy Limits to Resolve a Covered Claim for One But Not Both Liable Insureds Acceptable in Texas
By Duana J. Grage, Esq.
In Pride Transportation vs. Continental Cas. Co. and Lexington Ins. Co., Case No. 4:08-CV-007-Y (N.D. Tex. 2011), an employee of an insured transportation company rear-ended a truck while she was driving one of the insured's vehicles. The truck driver was consequently rendered a paraplegic and subsequently sued the insured and the employee. The insured was covered by a primary policy issued by a first insurer with a policy limit of $1 million and an excess policy issued by a second insurer with a policy limit of $4 million. The employee was an additional insured. The insurers attempted to settle the lawsuit for the policy limits on behalf of both the insured and the employee, but the claimants would not agree. The claimants made a Stowers demand for the combined primary and excess policy limits to resolve all claims against the employee alone. Read More... Sales Training Tip RFPs - Tactical Tool or Strategic Tool?
By Mark Hunter
RFPs should not be viewed as something won or lost as if they were a mission. Instead, think of them as strategic tools you can use with the customer.
Too many salespeople view RFPs as something where they submit their price and/or package and then wait to hear if they've won or lost. Sure it's always good to "win" an RFP, but it's essential to view any RFP as much bigger than a one-time project.
Read More...
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Illinois Supreme Court Adopts Wilson Elser's Argument and Eliminates Wrongful Birth Defendants' Exposure for Post-Majority Damages
By Wilson Elser
Wilson Elser's innovative defense strategy helped to move the law forward and saved its client more than a year in discovery and related expenses.
In Clark v. Children's Memorial Hospital, No. 108656, 2011 WL 1733532 (Ill. May 6, 2011), the Illinois Supreme Court ruled as a matter of first impression that parents asserting a claim of wrongful birth may not recover expenses incurred for the care and support of their disabled child after the child reaches the age of majority. The high court reached this result - which significantly reduces potential exposure to wrongful birth defendants - with the amicus curiae assistance of Wilson Elser's Appellate Practice Group and its co-chair Melissa Murphy-Petros. Clark is a significant victory for all wrongful birth defendants in Illinois and an excellent example of the ways in which our Appellate Practice Group adds value and achieves results for Wilson Elser's clients both inside and outside the usual appellate process.
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Four Resume Submittal Tips:
By Ed Rosa
4. Convert your resume to PDF.
It's not a hard and fast rule but if you've ever had a file reconfigure itself after you email or submit it online, then you know the frustrations of that happening. Converting it to PDF will save you the headache of having to resubmit it or worse, having your resume thrown in the trash or deleted because it doesn't look professional.
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This newsletter is produced in conjunction with Agents of America, www.agentsofamerica.org. The contents of which may not be reproduced without the express written permission of Agents of America.
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