Total Credits: 3 including 3 CE Credit
This course is Part 1 of 2 (3 hrs each) in this E&O module - As of January 1, 2020 3 hours of content must be taken in order to qualify for the 10% E&O premium discount!
Errors and omissions by an insurance producer can be extremely costly and damaging to the producer’s professional reputation. This course is designed to help insurance agents and brokers prevent many types of errors and omissions involving commercial property insurance. The verb prevent is used here in the risk management sense. Loss prevention seeks to reduce the frequency or likelihood of claims. Complete avoidance is impossible. An agent or broker who has handled everything properly, following every guideline within this course, may still be sued for some alleged error or omission. However, the producer who successfully completes this course is less likely to be charged with an error or omission and will probably be better able to defend himself or herself against these allegations.
Chapter 1 sets the stage for a discussion of producer errors and omissions by summarizing agency law and how it affects insurance agents’ and brokers’ duties to both insurers and their clients. The course then deals specifically with some of the more common problems associated with the following.
On completion of this course, the student should be able to recognize and prevent many of the problems associated with selling and servicing the following.
|Please Read - VOD credit instructions and state specific required forms (156.9 KB)||Available after Purchase|
|Course Outline (18.3 KB)||Available after Purchase|
|Course_Slides (369.5 KB)||Available after Purchase|
|Course Handout (5.1 MB)||Available after Purchase|
|Swiis Re/Allianz/Utica Premium Discount Instructions (33.2 KB)||Available after Purchase|
VIRGINIA M. BATES has over twenty years of experience consulting to agencies and carriers and managing insurance operations for both a carrier and a large regional agency. She has a background in all property and casualty lines, experience as director of a country-wide underwriting school and direct involvement in many automated systems. As co-founder of VMB Associates Inc., she has worked with many agencies on valuations and related issues, intelligent selection and use of technology, profitability, reducing E&O exposure, internal operations, marketing strategies, carrier relationships and successful use of technology. She speaks often on the evolving exposures and preventive strategies related to automation and electronic processing and documentation. She has conducted E&O audits and rehabilitation projects for agencies at the request of E&O carriers such as Fireman's Fund. She developed and produces the Vendor Comparison Workshops that have helped thousands of agencies determine their automation needs and options.
She is a certified E&O instructor and regularly creates and conducts educational programs for many state agents' associations, carriers and vendor groups. These programs encompass both technical subjects (such as personal and commercial risk management, direct and indirect property coverages, advanced workers comp coverages and rating, and umbrella coverages) and management subjects (such as E&O prevention, business planning, disaster recovery, profitable use of automation and procedures manual creation and implementation).
Virginia is the founder and Technical Executive of www.VMBhits.com. This is a testing website with which agency and carrier administrators can test the specific coverage skills, system usage abilities, E&O safety understanding, bookkeeping acumen, and educational needs of current employees and candidates for hire. The site includes tests in just about every P&C coverage line and Benefits lines.
Virginia's educational background includes an honors degree from Swarthmore College and graduate work in management science. She is a licensed broker and licensed insurance adviser.
SOME SAMPLE REVIEW COMMENTS & CLIENT COMMENTS (from classes and consulting work):
"Her positive attitude is always inspirational. Her knowledge of material is always enlightening.
The industry should be proud to have her." "The Best!"
“I love to have you in our office. Everything seems possible at the end of the day!”
“I went to a class just to get continuing ed credits and you reminded me why I went into this business in the first place - to sell and to help people. Thanks for making it fun again.”
“Thank you for treating us like a diamond-level client. We know you always care.”
Sam Bennett is an active retail producer, presenter, and shareholder in Harrison Agency, Inc. of Columbia, MO. He began his insurance career in 1987 and has been an Independent Insurance Agent from the beginning. He has worked with individuals, families, and small businesses his entire career. In this capacity, he has worked in the personal lines, commercial lines, agribusiness and life and health marketplaces. As a result of working with many types of clients, many carriers, and many coverage needs, Sam has grown to understand and appreciate the important ways an insurance professional must work with markets and clients in today’s insurance world.
Sam obtained his Certified Insurance Counselor (CIC) designation in 1996. He has taught coursework for the National Alliance in their CISR program since 2000, has presented in their CIC program since 2004, and in 2009 became a National Faculty Member of the Society of CIC. Sam is also a speaker in IRMI’s Agribusiness and Farm Insurance Specialist (AFIS) program and is a speaker in the AIMS Society’s Certified Professional Insurance Agent (CPIA) program. He has been called upon to offer insurance education in conferences and symposiums across the country over the past twenty plus years.
As much as he enjoys speaking on insurance topics, Sam’s true passion is cooking. BBQ and soul food are his specialties. He likes nothing more than a lively pulled pork/crawfish/catfish/collard green discussion.
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