Use the following checklists to identify coverage gaps, document conversations, and reduce your E&O exposure—all while delivering better service to your clients.
- Avoid E&O exposures by documenting your process
- Build trust with clients by showing diligence and attention to detail
- Stay sharp by reinforcing complex coverages
- Drive value by helping clients understand what they have and what they might be missing
*Checklists courtesy of Big "I's" E&O Guardian website.
New Business Checklists
- Business Income Checklist
- Business Owners Policy Checklist
- Commercial Lines Coverage Checklist
- Commercial Property Checklist
- Contractual Review Checklist
- Crop Checklist
- Environmental Impairment Checklist
- Farm & Ranch Coverage Checklist
- Life & Health Coverage Checklist
- Mergers & Acquisitions Checklist
- Personal Lines Coverage Checklist
- Workers' Comp Checklist
Renewal Checklists
Checklist FAQs
Is using a checklist a recommended best practice for agencies?
Yes, using checklists has a number of benefits in avoiding E&O claims and improving the agency’s ability to increase production. There should be a single checklist or system of lists used by all agency personnel.
Does using a checklist increase the agent's standard of care with its customer?
An agency’s use of risk assessment questionnaires and checklist does not in itself necessarily establish a higher standard of care. Use of coverage checklists is a best practice.
Should we develop our own agency risk analysis checklists or purchase commercially available ones?
Coverage checklists should be thorough, current, and standardized. It can be challenging for an agency to develop and update a comprehensive checklist without missing something. Using commercially available checklists means that agency staff is less likely to modify the checklist.
Should a risk analysis checklist be used on both new and renewal business?
This will depend on the procedures your agency develops puts in place. Using checklists on both new and renewal accounts can have a very positive effect on reducing your agency’s E&O exposure. Claims are frequently generated from accounts that are renewed “as is”. Both the exposures of personal and commercial lines customers change over time and checklists can unveil exposures that are sales opportunities. Using checklists on renewals can unveil changes in customers’ exposures and sales opportunity resulting in hidden profits.
Does the agency need to use a risk analysis checklist on all customers?
In a perfect world, yes, a checklist would always be used. For all practical purposes, however, it is unrealistic to expect a checklist be used for every customer. Agencies should establish a procedure that defines when checklists should be used, what checklist should be used, and how the documentation is to be completed and maintained.
Will using a checklist help in the defense of an E&O claim?
In general, Swiss Re indicated that the more often a comprehensive coverage checklist can be used, particularly in jurisdictions with challenging legal environments, the better position they will be in to offer a solid defense.
