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Texas Agent News: E&O Insurance News
News from IIAT about issues facing independent insurance agents in Texas.
We've seen a number of recurring claim scenarios when it comes to hurricane coverage.
IIAT Staffing Update: Gomez Joins Advantage Team as RLI Account Manager, Copeland Transitions to E&O Team as Customer Service Rep
IIAT is excited to announce staffing updates to the Advantage Markets and E&O teams.
Insurance industry experts are predicting a surge in E&O claims arising from the weather disasters and the pandemic in 2020. Now is the time to examine and strengthen your E&O risk management program before the wave hits. Here are a few suggestions on what to evaluate:
Have you ever been on a road trip, out in the country 50 miles from nowhere, when you go over a hill, only to find yourself confronted by blinking yellow lights warning you to slow down? A similar situation occurs in the agency business: day-to-day renewals and new business are going smoothly, and then the need to place an account with an E&S market arises. This is when the caution lights need to come on!
Unprecedented financial conditions, including the lowest interest rates in 70 years, a pandemic with unresolved insurance implications, and social inflation are all factors that portend stormy seas for the insurance business.