7 Tips for Avoiding E&O Exposures

Claims are on the rise due to the deluge of recent weather-related catastrophes in Texas. Here are some helpful reminders on how to avoid E&O exposures when handling these claims.

  1. Never confirm or deny the existence of coverage provided by the policy — that is the duty of the insurance carrier.
  2. Advise the client  what to expect during the claims settlement process and any duties they are  required to perform.
  3. Review policy provisions of all policies where coverage may exist, including excess and umbrella policies.
  4. Report claims to the carrier on the same day they are received.
  5. Maintain claims handling procedures in the agency internal procedures manual.
  6. Implement a suspense system to follow-up during the claims settlement process including documentation of each contact with the client and the carrier.
  7. Follow-up until claims are resolved.

Do you have E&O-related questions involving claims handling (or other topics)?  If so, please contact me, Gunnar Kephart at 800.880.7428.

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