E&O: Road Map to Policy Analysis
This course is designed to guide experienced professionals step by step through the process of reading policy language, applying a basic coverage analysis to look for possible gaps in coverage, and understanding advanced coverage issues. It will explain what to look for in terms of wording, punctuation, and formatting, including negative and positive implications of specific wording. In addition, the course will address E&O loss control issues and help the agency look at ways to obtain and retain business.
Upon completion of this course, the student should be able to:
understand important contract features in general as well as those specific to insurance policies and how they may or may not affect coverage;
know the general sections of a policy, their purpose, how they can be modified, and the importance of each;
understand how the sections of a policy interact and explain how they work together to determine coverage;
explain the importance of each area of special interest and how they can affect coverage;
understand and explain how a program of insurance should be coordinated and why it is important; and
understand how all the above impact errors and omissions (E&O) loss control, new sales, and retention of existing business.
Commercial Liability Coverage Gaps and How To Fill Them
Errors and omissions by an insurance producer can be extremely costly and damaging to the producer's professional reputation. This course is designed to help insurance agents and brokers prevent many types of errors and omissions involving commercial liability insurance. The verb prevent is used here in the risk management sense. Loss prevention seeks to reduce the frequency or likelihood of claims. Complete avoidance is impossible. An agent or broker who has handled everything properly, following every guideline within this course, may still be sued for some alleged error or omission. However, the producer who successfully completes this course is less likely to be charged with an error or omission and will probably be better able to defend himself or herself against these allegations.
On completion of this course, the student should be able to recognize and prevent many of the problems associated with selling and servicing:
- commercial general liability insurance,
- commercial auto insurance,
- workers compensation and employers liability insurance, and
- commercial excess and umbrella policies.
To gain the 10% loss control credit agencies must have the following number of individuals attend the E&O Seminar
Hopefully, you will walk away with some fresh ideas, the opportunity to earn a discount on your E & O insurance premium, and get 6 hours of continuing education.
Session: 8:30 am - 3:30 pm
Credits: 6 Minnesota CE Credits
2018 Cost: $156.00 - Member $171.00 - Non-Member
Cancellation Policy: Full refund or transfer will be granted if request is received in writing within 7 days prior to the seminar. Requests received after that date will incur a $35.00 fee. No refund/transfer will be granted for no shows.