Aug
10
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A bill has been introduced in the U.S. Senate to make a staged auto crash with a commercial truck a federal crime. It is called the Staged Accident Fraud Prevention Act (S. 5058).
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Filtered by category: E&O Clear Filter
J.D. Power on Insurance Buying —
Aug
10
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In recent years, catastrophic weather events have continued to increase in frequency and severity. While past hurricanes have highlighted recurring coverage misconceptions, today’s market environment presents an even greater challenge for insurance agents: proactively managing client expectations before a loss occurs while maintaining strong E&O defensibility. Hurricanes and other CAT events consistently expose gaps in coverage, misunderstandings about policy provisions, and breakdowns in communication. These issues can quickly evolve into uninsured losses – and ultimately, E&O claims against the agent. |
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The Gender Paycheck Gap Still Growing?
Category: E&O
Aug
10
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MyPerfectResume says all kinds of things have changed for women in the workplace in the last 25 years. Median income in the last quarter century has gone up, doubling from $493 per week in 2000 to $1,089 in 2025. In 2000, women made 77 cents for every dollar earned by men. That figure in 2025 hit 82 cents. The yearly earnings gap, however, grew from $7,696 in 2000 to $12,324 last year. |
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Rules of the Road
Category: E&O
Aug
10
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August is National Traffic Awareness Month, making it a timely opportunity to remind auto insurance clients that safer driving habits can protect lives, reduce claims, and help keep insurance costs in check. Roadway deaths have eased from recent pandemic-era highs, but the most recent national estimates still show tens of thousands of people dying in U.S. traffic crashes each year, while distraction, speeding, impairment, and seat belt nonuse remain major safety concerns. Insurance companies set auto rates through a complex risk-assessment process that considers factors such as driving record, claims history, location, vehicle type, repair costs, and broader loss trends. Clients cannot control every rating factor, but they can influence one of the most important: how safely they drive. Avoiding tickets, crashes, and claims can support a stronger risk profile over time. |
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M&A Activity - Continuing to Slow
Category: E&O
Jul
20
OPTIS Partners tracks mergers and acquisitions. The company notes the numbers dropped 8% in the first half of 2025 when compared to the first half of 2024. There were 319 of them compared to 2024’s figure of 345.
The second quarter saw the most activity with 168 deals. That’s up 11% over 2024’s second quarter.
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Jul
20
An analysis by S&P Global Market Intelligence has Progressive overtaking State Farm as the nation’s largest private passenger auto insurer. Progressive’s direct written premiums for the 12 months ending March 31, 2026 hit $70.2 billion.
That’s approximately $1.5 billion more than State Farm’s figure of $68.7 billion. The company has been the top auto insurer since 1942. That means this is the first time since World War II that State Farm isn’t the biggest auto insurer of them all.
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Jul
13
AI chatbots are quickly becoming part of the modern insurance agency. From answering routine customer questions to assisting with internal workflows, these tools offer a practical way to help improve responsiveness and streamline operations. Used thoughtfully, they can enhance the client experience and allow agency personnel to focus on more complex, value-driven work.
At the same time, agencies should approach this technology with caution. Insurance remains a highly regulated industry, and the duties of a licensed agent do not change simply because a task is performed by a chatbot instead of a person. A key point worth emphasizing is that a chatbot’s capability does not define its appropriateness. Just because a chatbot can perform a function does not mean it should – particularly when that function involves professional judgment.
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Mar
06
The Importance of Monitoring Carrier Financial Strength Ratings
Insurance agents play a key role in protecting their clients’ long‑term financial security, which makes it essential to place coverage only with carriers that demonstrate strong, stable financial performance. Rating agencies such as AM Best, Demotech, and S&P regularly review insurers’ financials and adjust ratings based on each carrier’s ability to meet ongoing obligations. These ratings can change at any time – and even well‑established carriers may experience downgrades.
Ongoing monitoring is important from an agency risk‑management standpoint. Agents are expected to use reasonable care in placing business with solvent, financially reliable companies, and that failure to stay informed about rating changes can create significant liability exposure and reputational damage for the agency.
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Feb
13
J.D. Power on Insurance Buying —
More Purchasing Digitally
J.D. Power says the number of people purchasing insurance digitally is on the rise. The Digital Insurance Predictions 2026 survey finds 44% of insurance policy buyers are now getting their insurance via those channels.
On the 1,000 point scale, digital customers are ranking their experience at 801 or even higher, and 92% say they will continue to use digital channels in the future.
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Are Your Clients Carrying Adequate Limits
Category: E&O
Jan
12
by Curtis M. Pearsall, CPCU, AIAF, CPIA, President – Pearsall Associates, Inc. and Consultant to the Utica National E&O Program
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Professional Insurance Agents Texas
PO Box 700877Dallas, TX 75370
UNITED STATES
Phone Number: 972-862-3333
Fax Number: 972-692-5624
Email: [email protected]
