Avoiding E&O Claims In A Hard Market
Just a few short years ago, competing against a lower pricedcompetitor was one of the top business concerns of insuranceagents. Today, agents face a drastically changed environment thatpresents challenges in handling their agencys errors and omissionsexposure.
Its no secret that combined loss ratios ofwell over 100 percent and the crashing of investment returns haveforced insurance carriers to look to pure underwriting results todrive profitability. Add to that social and environmental lossdrivers such as skyrocketing medical malpractice awards, moldclaims and asbestos liability, and the resulting mixture is arecipe for the hardest insurance market in almost two decades.
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