Each New Year, people reflect on what occurred during the prior year and they make resolutions concerning changes which are intended to improve their lives.  It has been a few years since we have done so, but in the past we have suggested that insurance agencies and brokerages should do the same at the beginning of a new year.  While each agency and brokerage knows the specific areas in which it may need to resolve to make changes, below are our suggested resolutions that agencies and brokerages may want to consider in the new year in order to provide better customer service, increase business and also help prevent E&O claims and lawsuits:

1. Resolve not to write business that is beyond your knowledge or experience.
2. Resolve to follow the state law and insurance company procedures when issuing certificates of insurance. 
3. Resolve to provide timely notice to all appropriate insurers of any incident, claim, or lawsuit that is reported to the agency or brokerage by a customer.
4. Resolve to respond to customer questions or inquiries promptly and accurately and provide the best customer service possible.
5. Resolve to get signed applications from all customers even if a signed application is not required by the insurer.
6. Resolve to seriously consider your need to continue business relationships with customers who are chronically difficult.
7. Resolve to do business with insurers that have a strong financial rating, and keep current on any changes in those ratings.
8. Resolve to place business with insurers that have a history of paying claims and that do not have a reputation for taking unreasonable coverage positions.
9. Resolve to be prudent when it comes to the E&O coverage for your agency or brokerage.  Insure with an E&O insurer that has a strong financial rating and reputation and make certain that your limits are high enough.
10. Resolve to be committed to E&O loss control.  Provide education to employees and adopt procedures concerning the best practices to follow to help prevent potential E&O claims and lawsuits.
11. Resolve to have all employees consistently document and confirm all communications with insureds and insurers.
12. Resolve to report in a timely manner to your professional liability insurer, any potential claim or lawsuit against your agency or brokerage.
13. Resolve to make certain that the required procedures are followed when placing coverage in the excess and surplus lines market.
14. Resolve that your agency or brokerage will have a prosperous and E&O free New Year!              
    
    

All of the partners, associates and staff at Keidel, Weldon & Cunningham, LLP wish all members of the Big I NY, and insureds with IAAC, Inc., a very happy, healthy and prosperous new year.  We would also like to thank each and every one of you for all of your support of our law firm. We look forward to continuing to work with you in 2019 and for many years to come.

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; Fair Lawn, New Jersey; Warwick, Rhode Island, Philadelphia, Pennsylvania, Williston, Vermont and Naples, Florida.