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As agencies focus on their very survival in this long-running soft market, they may be overlooking a critical aspect of their own business—and potentially placing themselves in a vulnerable spot.

Roughly one-in-nine insurance brokers have an errors and omissions claim each year, and not all of them actually arise out of clear mistakes. For example, a client is unhappy with the result of a claim filed with an insurer and therefore brings a claim against his agent or broker to obtain additional compensation.

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