E&O Roadmap to Policy Analysis – New in 2017
(our new E&O Loss Control seminar)

Many insurance and risk management professionals receive little or no training prior to entering the insurance industry. Most professional designation programs do a good job of training on technical insurance coverage, but little training is done to help seasoned professionals be more adept at policy analysis and comparison. 

As a result, coverage denials, missed opportunities, damage to professional reputations, lost clients, bad faith, and E&O claims result that could have otherwise been avoided.

Our new E&O loss control seminar is designed to guide experienced professionals step-by-step through the process of reading policy language, applying a basic coverage analysis to look for possible gaps in coverage and understanding advanced coverage issues. It will explain what to look for in terms of wording, punctuation, and formatting, including negative and positive implications of specific wording. In addition, the course will address E&O loss control issues and help the agency look at ways to obtain and retain business.

This course will qualify agents for their 10% Loss Control credit on their E&O policy through IIABSC.

Specific course topics include:

• understanding important contract features in general as well as those specific to insurance policies and how they may or may not affect coverage;
  
  
• knowing the general sections of a policy, their purpose, how they can be modified, and the importance of each;
  
  
• understanding how the sections of a policy interact and explain how they work together to determine coverage;
  
  
• explaining the importance of each area of special interest and how they can affect coverage;
  
  
• understanding and explain how a program of insurance should be coordinated and why it is important; and
  
  
• understanding how all the above impact errors and omissions (E&O) loss control, new sales, and retention of existing business.
  

The new course was developed by the International Risk Management Institute (IRMI) in conjunction with the IIABA E&O Seminar Curriculum Design and Review Group and Swiss Re. It is the first in a series of new E&O courses that IIABA plans to roll out over the next several years that focus on “knowledge-based” E&O issues. 

Future courses include Commercial General Liability E&O Exposures (late 2017) and Homeowners Insurance E&O Exposures (early 2018) as well as Commercial Property, Professional and Management Liability, Personal Automobile and Umbrella and Miscellaneous Personal Lines.