E&O Weekly Prevention
Strategies for the Professional Agent
October 1, 2013

Agents of America

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Letter From  the Publisher

E&O Tips of the Week 

Each week AOA thru the Learning Center will be providing E&O tips. These E&O tips will be developed from AOA's extensive library of high level educational material and will be included as part of the webinar / seminar package currently in development, that both agents and carriers will find beneficial in reducing E&O Claims. 
Check out this week's E&O TIP on "Documentation". 
Philip Voluck, Esq. Managing Partner at Kaufman Dolowich Voluck is pleased to provide you with his guide to "Social Media in the Workplace". With the very real risk that employee use and employers pose in the workplace, this guide is designed to be a handy "one-stop-guide" to this rapidly evolving issue. 

CLE with Thomson Reuters, Britton Weimer, Esq., author of Chapter 12, "A Comprehensive Guide to Avoiding E&O Claims" is doing a webcast on October 24:  "Managing Indemnity Claims Between Insurers and Agents"Get an overview of the legal standards for indemnity between agents and insurers, as well as practical tips on resolving these important claims


Also this week we are pleased to announce our new feature, Agents Advantage. Agents Advantage is the way for insurance agents and agencies to thrive in today's marketplace. It enables access to many market solutions. Agents' Advantage offers many benefits, and the agent or agency remains completely independent. One of our primary focuses is helps business by providing professional employer services designed to reduce your labor expenses and liabilities. The everyday challenge and opportunity for an insurance agent is to provide new, value added services that their clients will embrace by creating a new income source and increasing an existing client base.


In addition we will provide you with information with the Complexity of Obamacare including to the problems and liabilities issues that will follow. Each month, Aaron Peterson and his experts will reach out and bring us the best information on these topics.


Remember that membership in AgentsofAmerica.ORG is FREE! Also if you have any thoughts, comments or suggestions, please email me at info@agentsofamerica.org. 


"Bringing the Best Together"

Angelo J Gioia


AOA News, Views, Tips & More

Lives and Businesses Interrupted by Rocky Mountain Floods

By Wilson Elser Moskowitz Edelman & Dicker LLP   


Over the past several days, severe flooding has inundated several states in the Rocky Mountain Region. Following the nearly fifteen inches of rain dumped on parts of Colorado, the resulting floods continue to wreak havoc in a state already reeling from losses suffered during the recent forest fires ($567 million) and hailstorms ($321 million). 

Employers to Comply With Affordable Care Act Notice Obligation by October 1st 

By Keith J. Gutstein, Esq. and Jennifer E. Sherven, Esq. of Kaufman Dolowich & Voluck, LLP   

As required by the Patient Protection and Affordable Care Act (the "Affordable Care Act"), most employers are expected to provide a written notice to all employees about their health insurance options, also known as the Health Insurance Marketplace. 

Prior Knowledge and Lien Waiver Exclusions Bar Coverage for Defective Title Indemnification Claims

By Thomas K. Hanekamp, Esq. and Kathryn A. Formeller, Esq. of Tressler LLP


An errors and omissions policy's prior knowledge and lien waiver exclusions applied to preclude coverage for claims for indemnification against a land title company arising out of several lawsuits in connection with faulty title commitments. Lexington Ins. Co. v. Integrity Land Title Co., Inc., et al., No. 12-1599, 2013 U.S. App. LEXIS 15621 (8th Cir. July 31, 2013) (applying Missouri law).


Employers' Response to Affordable Care Act May Complicate Workers' Compensation Claims

By Goldberg Segalla, LLP


The coming implementation of the Patient Protection and Affordable Care Act may result in unintended consequences at the state level in reference to workers' compensation designs and regulations. 

In New York, for instance, its impact may indirectly lead to a potential for the expansion of claims in workers' compensation cases involving continuing or permanent disabilities. 


By Edward J. Stein, Esq. of Anderson Kill P. C.


In recent times, commercial crime victims have had to add the "direct loss" defense to the simple certainties of death and taxes. Whenever the chain of causation involves more than a perpetrator simply pocketing cash from the company register, the response from a commercial crime or fidelity insurance claim is a reservation of rights or outright denial on direct loss grounds. In other words, insurance companies argue that the loss does not result directly from a covered cause and therefore falls under an exclusion for indirect loss, or that it fails to meet a direct loss requirement in insuring agreements or definitions. 


Insurance Coverage Tip


Matthew Heilmann of Martin & Company


According to continued reports, Cyber security risks are becoming a major worry for large organizations. Indications are that many of these organizations are not covered, but intend to purchase cyber coverage in the near future. Recently OneBeacon introduced two new Breach Event Endorsements (Cyber) to the Banking segment of their Management & Professional Liability Program. These new Breach Event endorsements will compliment their existing Cyber Broker/Dealer Services Coverage, Cyber Insurance Operations Coverage and Cyber Broker/Dealer and Insurance Operations Coverage which extends coverage to an insureds online brokerage and insurance services.

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