Upload File

reduce mistakes – reduce agency risk and loss of client 90% of e & o claims are caused by a...

  • Home
  • Documents
  • Reduce Mistakes – Reduce Agency Risk and Loss of Client 90% of E & O claims are caused by a mistake (error) not
7
. www.InsuranceCommunityUniversi ty.com Reduce Mistakes – Reduce Agency Risk and Loss of Client 90% of E & O claims are caused by a mistake (error) not an omission More than 50% of all E & O claims derive from failure to recommend coverages, failure to identify exposures or reduction of coverage due to re-marketing at renewal Today – any account is open to competition 1

Upload: gwenda-neal

Post on 20-Jan-2016

213 views

Category:

Documents


0 download

Report

TRANSCRIPT

Page 1: Reduce Mistakes – Reduce Agency Risk and Loss of Client 90% of E & O claims are caused by a mistake (error) not

.www.InsuranceCommunityUniversity.com

Reduce Mistakes – Reduce Agency Risk and Loss of Client

90% of E & O claims are caused by a mistake (error) not an omission

More than 50% of all E & O claims derive from failure to recommend coverages, failure to identify exposures or reduction of coverage due to re-marketing at renewal

Today – any account is open to competition

1

Page 2: Reduce Mistakes – Reduce Agency Risk and Loss of Client 90% of E & O claims are caused by a mistake (error) not

.www.InsuranceCommunityUniversity.com

Client Cycle

2

Page 3: Reduce Mistakes – Reduce Agency Risk and Loss of Client 90% of E & O claims are caused by a mistake (error) not

.www.InsuranceCommunityUniversity.com

Transaction Cycle

3

Page 4: Reduce Mistakes – Reduce Agency Risk and Loss of Client 90% of E & O claims are caused by a mistake (error) not

.www.InsuranceCommunityUniversity.com

Account Review

4

Page 5: Reduce Mistakes – Reduce Agency Risk and Loss of Client 90% of E & O claims are caused by a mistake (error) not

.www.InsuranceCommunityUniversity.com

No Assumptions

5

Page 6: Reduce Mistakes – Reduce Agency Risk and Loss of Client 90% of E & O claims are caused by a mistake (error) not

.www.InsuranceCommunityUniversity.com

Claim Example

Benefit Plan (401K) changed Client created new plan Fiduciary policy written to cover a specific

plan name only• New plan was not included

Several employees sued employer• No coverage• E & O claim resulted against agent

6

Page 7: Reduce Mistakes – Reduce Agency Risk and Loss of Client 90% of E & O claims are caused by a mistake (error) not

.www.InsuranceCommunityUniversity.com

Summary

Getting it right is difficult Identify risks / exposures Design insurance program Market – obtain company quotes Proposal accurate Corrections made Policy issued and corrected

Lot of work to be proud of

7


The Royal Society of ChemistryPoka Yoke A mistake proofing tool that leverages simple visual controls or other mechanisms. To prevent mistakes and reduce sources of variation as well

Twelve Common SOA Mistakes and How to Avoid Them twelve_common_soa... · Twelve Common SOA Mistakes and How to Avoid Them ... 3.2 Mistake No. 2: ... • Assuming that everyone thinks

Happy National Read a Book Day! · 01.08.2017  · My Favorite Mistake! • Our chance to learn from our mistakes and grow as a class • I will never reveal whose mistake we are

Biggest Mistakes - Bowling Leads · 2017-04-07 · 8 Biggest Mistakes 6 Another big mistake that business owners make when creating their website is not to properly optimize them

TOOL // Math Self-assessment: Learn From Your Mistakes · Learn From Your Mistakes Look closely at the _____ question. Identify where the student made their mistake. Give the student

Review of Map-Reduce A Common Mistake Size/Communication

BACKGROUND OF THE BOOK WHATEVER HAPPENED TO ISRAEL – GOD’S PEOPLE? THE MISTAKES THEY MADE: 1. THE MISTAKE OF WANTING TO BE LIKE EVERYONE ELSE 2. THE MISTAKE

Buggs Fishing - 12 MISTAKES KAYAK ANGLERS MAKE...2019/12/12  · 12 Mistakes Kayak Anglers Make Mistake #1: Buying the Wrong Kayak, Buying Accessories You Don't Need We always recommend

Perceptron Mistake Bound · 2019-01-11 · Perceptron Mistake Bound Guarantee: Ifdatahasmargin andallpointsinsideaballof radiusR,thenPerceptronmakes (R/)2 mistakes. + + + + + - +----g

7 ESTATE PLANNING MISTAKES TO AVOID€¦ · 7 ESTATE PLANNING MISTAKES TO AVOID #1 MISTAKE: Assuming Your Adult, Capable Children and Beneficiaries Do Not ... There is flexible and

The 10 Biggest Mistakes Commercial Contractors Make · 2011. 4. 10. · (Mistake #1) Not Selling Aggressively The biggest business mistake you can make is assuming that no matter

It started with one mistake. Even mistakes can lead to ...€¦ · Even mistakes can lead to good ideas and beautiful art. In the drawing below, one eye is bigger than the other

DEADLY MISTAKES 10 - Amazon S3...DEADLY MISTAKES misTake no. 2 Making an offer on a home without being pre-qualified. how To aVoiD iT: Pre-qualification will make your life easier—take

New How To Avoid 5 Deadly Leadership Mistakes · 2018. 4. 6. · How To Avoid 5 Deadly 7 Leadership Mistakes Mistake 2 (cont.) Negative Influences 6 Sources of Value 1. Research Professional,

Mistake-Proofing: Changing Designs to Reduce Error - · PDF fileAgenda/objectives • Define concept of mistake -proofing • Identify physical design changes as a key feature of mistake-proofing

Avoid these mistakes€¦ · 3 MISTAKES TO AVOID WHEN SELLING. Your Real Estate Resource. Avoid these mistakes. Mistake #1: Rushing To The Market: Pressure from agents who may just

Ten Mistakes U.S. Businesses Make When Shipping to … most common “mistakes” made by U.S. businesses when shipping to Canada. While each mistake may impact success in the Canadian

SIMPLE IRA Plan Potential Mistakes - An official website ... · 1 6/5/2015 SIMPLE IRA Plan Fix-It Guide . Mistake Find the Mistake Fix the Mistake Avoid the Mistake 1) You haven’t

The biggest mistakes that lawyers make with video · Table of Contents Introduction: The 8 Biggest Mistakes That Lawyers Make With Video 1 Mistake #1: They think “making a video”

TOP 5 COMMON MORTGAGE MISTAKES TO AVOID · 2018-07-09 · MORTGAGE MISTAKES TO AVOID TOP 5 COMMON. MISTAKE 1. ... Many people who get a 15-year fixed mortgage end up refinancing to

the 5 most common freight shipping mistakes pdfs/5... · the 5 most common freight shipping mistakes 6 mistake #3: incorrectly packaging your freight Incorrect packaging is one of

Spring it On! · 2016. 5. 25. · Spring it On! Finance Mistakes With Long-Term Consequences Avoid these top finance blunders We all make mistakes, but when it’s a financial mistake,

5 BIGGEST HR MISTAKES - Amazon S3 · 5 BIGGEST HR MISTAKES SMALL BUSINESSES MAKE AND HOW TO FIX THEM 3 MISTAKE #1: Treating Independent Contractors Like Employees Hiring an independent

VA U.S. Department · poster. There is 1 grammatical mistake on the poster. There are 2 grammatical mistakes on the poster. There are more than 2 grammatical mistakes on the poster

FIVE IT MISTAKES TO AVOID11 Five IT Mistakes to Avoid MISTAKE NO. 4 FAILURE TO CONSIDER THE WIRELESS WORKFORCE While no one can predict the future, IT pros can’t ignore it. VARs

Common mistake in nouns is about some mistakes in Noun

Chapter Onelyndsaythompson.weebly.com/.../machiavelli_study_gui…  · Web viewWhat mistake did the Venetians make? What does Machiavelli prove with this? What are the six mistakes

Mistake Proofing to Reduce Medical Errors - …asp.pharmacyonesource.com/images/sentri7/MistakeProofing.pdf · Mistake Proofing to Reduce Medical Errors May 2, 2012 by John Grout

Content Curation Mistakes –  · Content Curation Mistakes – Mistake&–&Linking&to&PoorQuality&Content& When you’re in a hurry to get some content posted, it can be tempting

Five Mistakes Made Semiconductor Wafer Measurements · 2019-08-31 · Five Mistakes Made When Taking Semiconductor Wafer Measurements +1-800-342-2203 | [email protected] Mistake

How a Checklist can Boost Efficiency and Reduce Mistakes

عبازلا ىوتشلما - awa2el.net · You are asked to edit the following lines that have four mistakes. (One grammar mistake, one punctuation mistake and two spelling mistakes)

Discover How To Reduce Your Bounce Rate By Learning From These Top Bloggers Mistakes

Core 3/4 Maths A-level Classic Mistakes - The Maths Orchard€¦ ·  · 2015-04-27Core 3/4 Maths A-level Classic Mistakes Spot the mistake and correct it. 4 SCO DC . ... 3/14 Class

Special Report: The 5 Biggest Mistakes Note …...Special Report: The 5 Biggest Mistakes Note Owners Must Avoid..... Mistake #3 NOT Reporting To The I.R.S. Yes, good ol' Uncle Sam!