What Do You Do for E&O Prevention

[DJAJ]

As my agency grows I just want to make sure I am doing what I can to minimize my e&o exposure. I always read "make sure to document everything," but that just seems impossible. So I was just curious what you guys are doing, especially at policy inception (a lot easier when your client calls and says they need to remove a car but the inception has a lot of moving parts). Is there a checklist you have, do you go over all optional coverages, etc? Any input would be appreciated. Thanks.

 

[agentinsouth]

As my agency grows I just want to make sure I am doing what I can to minimize my e&o exposure. I always read "make sure to document everything," but that just seems impossible. So I was just curious what you guys are doing, especially at policy inception (a lot easier when your client calls and says they need to remove a car but the inception has a lot of moving parts). Is there a checklist you have, do you go over all optional coverages, etc? Any input would be appreciated. Thanks.

I waiver the $h1tt out over everything. Flood, earthquake, schedule items, inspections, etc... Thank God for esign!

 

[mattupthehill]

For coverage issues:If your company doesn't have a form that explains ins simple terms the coverage they are waiving, then I would create my own.

For excluded operators: Again I would document the conversation on EAgent or whatever CRM Software you use along with a signed form. It goes a long way in disputing E&O claims.

We've had a few E&O claims over the years and documentation is the key.It seems like now the burden of proof is on the agency. They have to not only prove the client signed the waiver/endorsement/etc. but that they understood in laymans terms what they are signing.