This month AOA would like to introduce you to a new feature to our monthly newsletter, entitle "AOA Tips, Views, News & More." Each month we will provide you with trends, developments and important information, including a loss prevention tip relevant to your insurance business. Also, please check our most recent PRESS RELEASE sent out on Monday updating the status of our Risk Management Program.
AgentsofAmerica.ORG forms a Strategic Partnership with Pearsall Associates Inc.
"Bringing the Best Together" - Agents of America is pleased to announce its newly formed partnership with Curtis Pearsall, President and Founder of Pearsall Associates Inc., an E&O risk management consultant specializing in helping agents protect themselves. Since 1987, Curt Pearsall was the manager of the Utica National Agents E&O program, one of the leaders in providing agents E&O protection.
Curt is a consultant and national expert on Errors and Omissions for insurance agencies. He specializes in E&O risk management and loss control by working with agencies to develop a "culture of E&O prevention" by understanding areas of potential liability and improving the focus on E&O loss control. Curt is a monthly contributor to many of the industry's leading journals. He also provides expert witness services to law firms for E&O claims and litigation.
Pearsall's services include:
- Agency E&O audits and reviews
- E&O seminars, workshops, and presentations
- One-on-one agency consultation
- Expert Witness work for E&O litigation
Curt will provide each month an article and a tip on timely E&O topics. See Curt's article below on "Make Education of your staff & customers a key piece in your E&O loss prevention program in 2012"
AOA Tips, Views, News & More
E&O Tip by Curtis Pearsall,"Sending a Cover Letter with the Policy: Is General Better than Specific?"
For more tips check out his E&O Blog.
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Insurance Coverage Tip
by Kristin Condi Toto of Martin & Company
Social Media Coverage: An Increasing Necessity for Employers
Social Media Coverage is becoming more prevalent in the Property & Casualty market. Insurance Companies are recognizing the increasing necessity for employers to have Social Media Coverageto protect against wrongful acts such as workplace bullying that occurs over Facebook, Twitter, LinkedIn, or other similar media applications.
Carolina Casualty, part of the Berkley Group, introduced a new Social Media Coverage Endorsement to be used with their Employment Practices Liability Program. This new coverage defines Social Media and Workplace Bullying, expands the definition of a wrongful act to include workplace bullying and offers new Social Media Coverage under Third Party Liability. Social Media exposures include Facebook, YouTube, Twitter, MySpace, LinkedIn, etc.
To view more "hot trends" in the Property & Casualty Insurance Marketplace, visit
Martin & Company's Market Trends & Updates.
Financial Tip of the Month
by Mike Brady of the Brady Financial Group, LLC.
One component of insurance agency sales that is often overlooked is tax implications. The buyer and seller must be on the same page with regards to how the transaction is being treated for tax purposes. The sales agreement should clearly state how the asset is being valued and how earn outs/retention bonuses are handled. Consistent treatment by both parties is a must. Depending on timing, the difference between capital gain treatment and ordinary income can have a significant impact on what you "net" out of the agency sale. This is one of many important items that should be considered as part of an overall exit strategy. Check out Brady Financial Group.
Social Media Tip
by Cynthia Cavoto of Marketing That Works For You
This month's EBook is entitled, "Big Money From Podcasting" we know you'll find this information valuable for your business. Please feel free to email us to share "Google's New Local Search." We know you'll find this information valuable for your business. Please feel free to email us to share your comments. In addition, we are happy to consider suggestions or topics you'd like us to put into an EBook
Each month, we will feature a brand new Social Media EBook that contains valuable information on how you can harness the power of social media. Each featured EBook will contain a wealth of information that will include such topics as Facebook, LinkedIn, Twitter, Email and Blogging to name a few.
Result From Last Month's poll question:
Do you review the AM Best size rating of your errors and omission carrier (i.e. A+/XV, A/X)?
YES = 89%
NO = 11%
This month's poll question:
How do Insurance Agents obtain their Continuing Education?
~Thru their state agent association
On December 15-16, 2011, the DRI Professional Liability Committee, with participation from Agents of America, will be presenting a stand-alone Professional Liability Seminar in New York, NY. This DRI seminar will be the first of its kind, and our goal is to present a variety of topics relevant to lawyers and other professionals in the industry. The program will feature industry experts. For complete details see DRI EVENT.
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.
Also, available for our readers, AgentsofAmerica.ORG is now offering a new service to all of our subscribers and readers to market their products, services or upcoming events, MARKET SOLUTIONS. This unique opportunity will allow you to reach thousands of Insurance Agents, Brokers and Insurance Professionals across the country in timely, efficient and cost effective manner. In addition to sending out your message, we can also help you use Internet Marketing as medium to convey your announcement, as well as on how it can be utilized to effectively grow your business. If you have any question, please send your inquiries to: firstname.lastname@example.org.
"Bringing the Best Together"
Brit Weimer, Esq.