Calendar

This course is Part 2 of 2 (3 hrs each) in this E&O module - As of January 1, 2020 3 hours of content must be taken to qualify for the 10% E&O premium discount! Course Description 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. Commercial property insurance (Chapters 2 and 3) Parts I & II Time element insurance (Chapter 4) Part II Inland marine insurance (Chapter 5) Part II Course Objectives 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. Commercial property insurance Equipment breakdown insurance Business interruption and extra expense insurance Commercial inland marine insurance