| March 2013 |
Volume 25, Number 3 |
The 2013 Annual E&O Loss Control Seminars
In May and June, the IIABNY Annual Errors & Omissions Loss Control Seminars will once again be presented by the law firm of Keidel, Weldon & Cunningham, LLP. If you are interested in attending the seminars, you should register as soon as possible because space is limited. Unlike prior years, the 2013 seminars will be different in several important ways. In this issue of The E&O Report, we will discuss some of those differences and review the various topics we will address during the seminars. As has been the case for many years now, my partner, Chris Weldon, and I will present the annual E&O seminars in two separate formats. First, a four-hour seminar will be presented live at five locations across New York state during the month of May. The locations and dates for the live seminars are as follows:
May 15 - Buffalo
May 16 - Syracuse
May 21 - Hauppauge, Long Island
May 22 – New York City
May 23 – Armonk, Westchester County
The live seminars will qualify attendees for four continuing education credits for all licenses. Additionally, a live, telecast seminar will be presented over four hours on June 12 from a studio near Albany and transmitted to 15 locations across New York state. Although past telecasts of the seminar were conducted over three hours and provided three CE credits, the 2013 telecast seminar adopts the same four-hour format presented at the five locations in May. The change was made as a result of a number of requests IIBANY received from its members. Depending on the agency’s or brokerage size and the number of employees attending the live or telecast seminars, it can qualify for a 10 percent premium credit on an errors and omissions insurance policy insured with Westport Insurance Corp. through IAAC. Similar conditions apply for a 7.5 per cent premium credit if the agency or brokerage is insured with Fireman’s Fund Insurance Co. through IAAC. See the attendance requirements posted online for more details.
In addition to earning CE and premium credits, seminar attendees will learn essential and practical E&O loss control practices and procedures that can help reduce the likelihood of an E&O claim or lawsuit. At the seminars, we will discuss “real-life” E&O issues based upon actual claims and lawsuits handled by our firm so attendees can get a better grasp of loss control practices that can help avoid or minimize the likelihood of a claim or lawsuit.
You might recall that in the September 2012 issue of The E&O Report, we asked IIABNY members to provide us with issues and topics they would like us to address during the 2013 seminars. Based upon their feedback and input from the IIABNY staff, we prepared an outline for the seminar series. Among the topics we will cover during the seminars are:
- The law affecting property and casualty and life and health insurance agents and brokers
- Loss control practices that every insurance agency and brokerage should have in effect
- The importance of following good practices and procedures when placing an excess surplus line policy
- Issues insurance agencies and brokerages should consider in preparation for catastrophic events
- Claims handling and other customer issues related to catastrophic events
- Best practices for insurance agencies and brokerages to follow in order to protect against E&O claims and lawsuits related to catastrophic events
- Ways in which catastrophic events can impact insureds
- How technology can be used to help protect an agency or brokerage against E&O claims and lawsuits
- The duty of care for insurance agents and brokers in New York and other states
- Some of the most common defenses used in connection with E&O claims and lawsuits
As in prior years, we will present three short videos during the course of the seminars to help illustrate the key E&O issues, problems and procedures under discussion. In the first video, we will review the benefits an agency or brokerage can obtain when it conducts internal file audits. The second video will cover issues that agencies and brokerages should consider in preparation for catastrophic events. In the final video, we will discuss what New York insurance agents and brokers should know about the recent state Court of Appeals decision that addressed the duty to read defense used in cases involving E&O.
Last year, approximately 1,500 New York insurance agents and brokers attended both the live and telecast E&O seminars. We encourage all agents and brokers in the state to register as soon as possible for one of the live seminars in May or the June 12 telecast. Register by visiting the Education section of the association’s website or calling the IIABNY Education Department at (800) 851-8853, ext. 3.
We look forward to presenting the 2013 annual E&O seminars and hope all of you will be able to attend one.
Submitted by:
James C. Keidel, Esq.
Keidel, Weldon & Cunningham, LLP
Keidel, Weldon & Cunningham, LLP concentrates its practice in the defense of insurance agents and broker’s errors and omissions claims and litigation, errors and omissions loss control counsel and education, insurance coverage analysis and litigation and insurance regulatory matters. Please direct any comments or questions to James C. Keidel, Esq. by mail to the main office of Keidel, Weldon & Cunningham, LLP, at 925 Westchester Avenue, Suite 400, White Plains, NY 10604, telephone at (914) 948-7000 or e-mail at jkeidel@kwcllp.com. The law firm also maintains offices in Syracuse, New York; New York City, New York; Wilton, Connecticut; Bayonne, New Jersey; Warwick, Rhode Island and Philadelphia, Pennsylvania.
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