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.
After an introductory chapter that summarizes insurance agents’ and brokers’ duties to their clients, this course deals specifically with some of the more common problems associated with four lines of insurance, as follows.
This course is by no means exhaustive. No course can possibly recognize and discuss every conceivable type of error or omission an insurance agent or broker can make. However, it should at least make readers aware of many potential pitfalls and how they can be avoided.
For purposes of this course, the terms agent, broker, and producer are used interchangeably.
Upon completion of this course, you should be able to recognize and prevent many of the problems associated with selling and servicing:
Course #220493 | 3 OGI | Instructor: Vince Sorgi