In part one, we shared several E&O prevention best practices that agencies can apply prior to binding coverage. In this post, we’ll discuss what agencies can do to protect themselves during certificate issuance.
Certificates of insurance are a vital and often urgent deliverable for insurance customers. But for insurance agencies, they can be a stressful interruption and a potential source of errors and omissions (E&O) risk.
Insurance state regulators expect licensees to demonstrate the highest standards of professional and ethical conduct. When they fail to do so, the result is often a consent order, which must responded to promptly and correctly.
Carriers are proactively evolving their loss control practice to create more value and strengthen the relationship between the carrier and the policyholder, improving the customer experience in a meaningful way.
Insurance agencies with surplus lines licenses have some special compliance requirements that those handling only admitted insurance do not, such as the “zero reports” statement to state regulators.
Getting the right answer to the governance question is one of the most important factors affecting the success of strategic initiatives. In our work with clients, we see four keys to getting the governance question right.
Dropping the ball on regulatory issues can halt insurance agency growth, disrupt service, and result in costly penalties. Agencies need an experienced partner to ensure compliance full time.
The term “lapsed” refers to an insurance license that the holder does not renew at the time of its expiration date, but which state regulators have yet to administratively terminate.
Robotic process automation is a powerful tool that can improve operations in a myriad of ways. When employed correctly, RPA can help employees free up as much as 30% capacity at an enterprise level.
In this episode of Kaleidoscope, we discuss the latest cutting-edge health care methods used by psychologists to care for injured workers experiencing mental health challenges.
Many operations stop after getting the essentials down. According to the Nolan Company’s Stephen Murphy, to consistently deliver excellent service and be a true “Center of Excellence” the operation must master the four phases of excellence.