E&O Risk Management: Meeting the Challenge of Change presents Understanding Agent Duties

Featuring Minimizing E&O Exposures from E&S, Limiting Exposure to Data Breaches and E&O Exposures when using Social Media.

NY AGENTS ONLY: For agencies to be eligible to receive a 10% loss control credit on their Swiss Re/Westport E&O insurance premium, the minimum agency staff required must attend both the Agency/Carrier Relationships-Law of Agency webcast and the Understanding Agent Duties webcast. Each person may complete these webcasts in any particular order but all persons must complete viewing the loss control programs prior to the deadline. There are multiple viewing dates and times each month; so, please plan accordingly. Failure to attend both E&O webcasts will result in forfeiture of your eligibility to receive an E&O policy premium discount.
 
Course Objective:

Explore how an agent’s standard of care is determined along with key components for determining negligence on the part of the agent. The course will discuss the concept of balancing your legal duties to the customer while running the agency in a way that creates more customer value. In addition, the course explores some of the things agents can do to minimize their E&O exposure including familiarizing themselves with the laws affecting the E&S marketplace, finding a quality broker with financially stable insurers, and carefully scrutinizing policy forms.

Every agency should be aware of protecting customer personal information. The course examines the agency’s general regulatory responsibilities for protecting personal data, the exposures faced by agencies, and provides some risk management guidance to help protect the agency’s operation and the data it keeps.

Lastly, many agencies already actively use social media, while others are still exploring it. For some, there are questions of whether social media sites will supplant the need for traditional websites. While social media is an excellent way to connect with customers, increase visibility of the agency, and build relationships with prospects, its usage does have some E&O exposure.