Agents of America
 
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Meet the Authors
Of our Brand New Ebook
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"Insurance Agents & Brokers Risk Management Program"
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AOA Featured Articles -
July 2011
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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."
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I am happy to announce that we have partnered with James Wm. Kallman, Ph.D., ARM, RD, who has agreed to be one of our editors with respects to our up and coming Risk Management eBook, "E&O Loss Control & Risk Management Program for Insurance Agents and Broker." Dr. Kallman is a full-time professor at the St. Edward's University in Austin, Texas. Dr. Kallman also teaches professional education courses in risk management, risk control, risk financing, and financial management. He is regarded as an industry leader and expert in enterprise risk management and risk control.
We currently have five chapters that have been completed and are in the review process.
For those interested, check out our updated Table of Contents, plus "MEET THE AUTHORS" (hyperlink to page to http://www.agentsofamerica.org/page.php?id=489) to our new eBook.The Book, once completed, will have 26 distinct chapters plus an Appendix on Best Practices that will represent a collaborative effort of 25 of the top E&O insurance attorneys and experts from across the country.
This month's poll question:
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Should you retire or sell your agency, what length of an extended reporting endorsement (tail) would you purchase?
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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. |
 Prior Knowledge Condition Bars Coverage Under Errors and Omissions Policy
By Ashley L. Christensen, ESQ.
An E&O insurance policy's prior knowledge condition precluded coverage for a negligent retention and supervision claim and the Tenth Circuit therefore affirmed the grant of summary judgment in favor of the insurer. , No. 10-3159 (10th Cir. Feb. 28, 2011). The Insured's plausible defense of the claim did not satisfy the policy's prior knowledge condition.
Read More...
Fraudulent Concealment: Killer of Malpractice Limitations Period Defenses - Or Not
By Shana O'Grady
Most attorneys at some point in their careers will realize they have made an error of some kind. It could be something small, such as a missed discovery deadline, which, depending on the relationship with opposing counsel, could be very easily fixed. Or it could be something much larger, such as a missed a statute of limitations. Inevitably, when an attorney realizes a mistake was made, several questions will immediately arise. Must the client be advised? What does the client need to be told, and when? Most attorneys will likely wonder if the client should told immediately, or whether it should wait until determining whether the mistake can be fixed. What to tell the client and when to tell them are very important questions. What an attorney does in response to those questions can determine how much time a client has to file a claim against the attorney, and sometimes whether a client can file that claim at all. Failing to be sufficiently up front with a client about the error can lead to a claim of fraudulent concealment, which in most jurisdictions will toll the time in which the client may file the suit.
Read More...
E&O Loss Prevention Tip: Description of Claim
By Brown & Brown of California
Agent wrote a business package policy for a retail store. The Agent did not inquire about the actual age of the building in question from the client. When filling out the application, the Agent guessed that the building was fifteen years old. The building was completely destroyed by fire. Subsequently, it was discovered that the building was nearly fifty years old and that because of its age, was an ineligible risk. If the Agent had given the buildings correct age, the company would not have written the policy. Damages for this claim totaled $450,000.
Read more...
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First Class is Always Full
By Michael J. Beck
You hear about it wherever you go these days - how poor the economy is. People talk about how no one is spending any money. About how no one is buying anything. About how people aren't making decisions. About how everyone has cut back. And yet...
To Disclose or Not Disclose?
By Bradley M. Zamczyk, Esq. & Christina A. Lee, Esq.
Real estate brokers and their agents (collectively, "agents") owe disclosure duties to prospective buyers of residential property. Buyers' agents must disclose all material information that might affect their clients' willingness to enter into or complete a real estate transaction. Conversely, sellers' agents only need to disclose information affecting the value or desirability of a property that a "reasonably competent and diligent inspection" would reveal. Cal. Civ. Code § 2079 (emphasis added). A discussion of agents' disclosure duties in California follows.
Transitions
By Charles Wilson, CMC, CMR, RPLU
We are all getting pretty familiar with change these days. Some of it is good; some not so good - especially right now. One thing is always true: it is never ending.
One change that most clients worry and ask about is transitioning or selling their business. This transition happen some day, and in one of two ways: a smooth and well-planned 'non-event' or a messy and expensive surprise.
Read More...
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A Bad Way to Use Your Smart Phone
This applies for all professionals, but especially salespeople. You might be the most amazing tech user the world has ever seen. You might have the ability to type 40 words per minute on your iPhone - but that doesn't mean you should do it.
Do You Ever Find Yourself Struggling for Something in Life?
By Edwin Martinez
Do you ever find yourself struggling for something in life? In spite of all the answers, solutions, and alternatives at our surroundings, we tend to go looking beyond and going in circles in areas of our lives that could very well be in order by now. What does it take? Do we need a silent revelation or a thunderous voice to direct our every move? Where does it end?
Counsel Provided by Insurer Does Not Create an Inherent Conflict of Interest
In , --- A.3d ----, 2011 WL 1535267 (Pa. Super. April 25, 2011), Appellant, Colleen Eckman was sued by Solid Waste Services, Inc. d/b/a/ J.P. Mascaro & Sons for one count of defamation (libel per se), alleging willful, malicious and false statements purportedly made during a local election campaign (the Mascaro litigation).
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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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