E&O Risk Management

Just as you have a business plan to help guide your business decisions,  it’s important to integrate E&O Risk Management into your daily agency activities. When you become a Swiss Re policy holder, you have access to a multitude of Risk Management resources.

IIAW Risk Management services meet all of your agency needs. From assisting you with strategic business planning to offering educational trainings that save you money on your premium costs. IIAW puts its member agencies first and are here to reduce, mitigate and eliminate your risk. Don't see something you're looking for? Reach out to Mallory Cornell (Mallory@IIAW.com) today and we will work together to find a solution!

 Here are a few of the many resources available to you:

 Errors & Omissions Risk Management Classes- Utilizing the most recent national, regional and statewide data available, the IIAW offers a variety of loss control courses. IIAW's Director of Risk Management, Mallory Cornell is an approved instructor and can customize the course to include new and relevant materials to your agency which will ensure an energized discussion applicable to any member of your agency. The program also qualifies for the 10 percent premium discount on IIAW/Swiss Re E&O policies, per guidelines.  Click HERE to access the loss control course attendance requirements to qualify for a 10 percent premium discount. Act now to learn more about what modules would be best for your team and start saving money in the process! 



 Claims Prevention Resources-  One of the best (and easiest!) ways to deploy risk management in your agency is to learn from past mistakes. Whether they are incidents or claims that have occurred within your agency or reading about what has happened to others in the industry, looking at root cause and mitigation for actual events can help you build solid plans to reduce or avoid future claims. Need help with examples, storytelling or conducting a root cause analysis? Reach out to the experienced professionals at IIAW!

 Mergers and Acquisitions, Personal Lines, and Commercial Lines Checklists- Checklists are one of the easiest ways to effectively review current processes. In addition to being easy, they take almost no time at all because they've already been created for you. Whether you are navigating your way through M&A activity or doing business in the personal lines or commercial lines space, be your own risk manager and take the time to review these easy to follow checklists.

 Sample Agency Procedures - A lack of clear and effective practices and procedures for your agency will surely lead to an E & O claim in the not-so-distant future (if you haven't had one already!). However, there is no need to start from scratch. Review the sample documents and compare them to your current documents or use them to develop new procedures. If you are unsure or need guidance or feedback, reach out to the team at IIAW.

 Mock E&O Trials - Putting things into practice is a great way to learn new skills a have an interactive discussion. A mock trial will guide you through an actual E&O court case with scripts and documents to enhance the experience. As an added bonus, a trained facilitator can conduct the mock E&O trial for your agency and, once again, there is a opportunity to earn premium credit.

Survey of Agents E&O Litigation - This document contains real-life experiences from attorneys in each state who have represented agencies involved in E&O lawsuits. Learn about the experience and use the information for your own risk management needs.

 A Practical Guide to Agency E&O Risk Management- This document is FULL of risk management tips and best practices for use within your agency. Browse through the material and you'll find countless case studies, coverage tips, the life cycle of a claim and much more. With all of this information in one place, it may seem a bit overwhelming to sort through the best way to use it all. That is where the IIAW can come into play to help with guiding you along the risk management path and helping you decide which tools are the best fit for your agency needs.

 Records Retention Recommendation - Navigating this new world of electronic information can be difficult in and of itself, but identifying how long you need to keep information can be even tougher. Records retention can expose agents to E&O claims if the information is not kept for long enough or even if it is kept for too long and at greater risk for a data breach. There is no "one size fits all" method to records retention, so we encourage you to work with IIAW professionals to determine if the right procedures are in place for your agency.

Training and Education - The IIAW offers everything you need to meet your educational needs. Whether you are looking for legal education from Wisconsin's top defense attorneys or pre-licensing and CE classes, it can all be found on the events calendar today!

 Additional Resources- With all of this information available, how could there possibly be more? There is and it can be found on our E&O happens website. If you find yourself overwhelmed as you sort through the E&O risk management materials, you are always welcome to reach out to the IIAW team for support and guidance.

Don't forget about these FREE services available to all IIAW members!

  • Free legal advice pertaining to a potential claim
  • Free Legal documents and disclaimers
  • Risk Alerts
  • Monthly magazine articles and weekly e-newsletters discussing the most pressing E&O issues

E&O Best Practices

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