Stupid Agent Man interviews professionals from the Life Insurance Industry on topics of interest to Life and Annuity agents.
Smart Answers to Stupid Questions....because there is such a thing as a stupid question.
In this episode Rob Erzen of Arthur J. Gallagher & Co. answers questions on Errors and Ommissions coverage (E&O) for Insurance agents. Things like:
- What exactly does E&O cover?
- What is "Negligent Conduct"
- What if I have a lapse in coverage?
- Does my E&O cover a "B" rated carrier?
- What about in the case of Insolvency of a carrier?
- What do I do when I receive a complaint or lawsuit?
- I'm retired now, why do I still need E&O coverage?
- I had E&O at the time I wrote business in question, why am I not covered?
- What is "TAIL" coverage?
Things You Should Know about E&O
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"The insolvency is just one issue. If you sell that product we were just talking about...and the client alleges some sort of misrepresentation, you'll still have coverage for that B rated company. For any other, what I would call sales practice allegations or negligence would be covered, it's just the insolvency that would be the problem."
- Rob Erzen, Arthur J. Gallagher & Co.