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Holiday Greeting of E&O Tips
by Curtis M. Pearsall, Vice President, Agents' Errors and Omissions Department With the holiday season upon us, first of all, it is certainly appropriate to say THANK YOU to all of the thousands of agencies that allow Utica the privilege of protecting their agencies. While I am not sure that this article will “arrive” before the holidays, I thought I would try my hand at tying in loss control tips to the 10 days of Christmas. |
10 |
This
is the number of times a week that you should emphasis the
importance of DOCUMENTATION. 90% of E&O
would either not happen or have a happier ending if there was
solid agency documentation. |
9 |
This used to number
of claims per 100 policyholders. Due to the solid efforts of
agencies across this great country,
this number is 7 claims per 100 policyholders. This is a great
success story and shows that having a strong focus on loss
control does make a difference. A major part of Utica’s
job is to help you avoid claims. Great Job !! |
8 |
The number of times
your staff would like to hear you say THANK YOU for a job well
done. While this may not be easy to do, get in the habit of saying
THANKS and NICE JOB to your staff for their efforts. Insurance
agencies, like most business, are only as good as their staff.
A staff that is appreciated will be a staff that will be with
you for years to come. |
7 |
The number of times
that you should, over the course of a year, say THANK YOU to
your customers, without whom you are not in business. Surveys
show that this is the average number of times that customers
are shown appreciation. How do you stack up in this area? |
6 |
At least once every
other month (6 times a year) hold a staff meeting and talk with
your staff about the issues of the agency, the importance of
E&O loss prevention and ways to have the agency be m ore
efficient and professional. There is no doubt that they will
have some great ideas. |
5 |
Commit to sending
5 of your staff (if you have a staff of 10) to an education class
in 2006. Whether it is a program like CPCU, CIC, one of the CSR
programs or a seminar on telephone skills – your staff
will appreciate the commitment you have made to them to provide
them with the tools necessary to do the job. |
4 |
The number of times
that you should send some communication to your policyholders.
This is an ideal way to let your customers know the latest products
available or how their insurance policies will respond to various
types of losses. Not only will your customers be very educated
(a value added service of your agency) but they will probably
secure additional coverages when the exposure arises. Identifying
the exposures of your clients will greatly reduce the likelihood
of an E&O claim being made against you. |
3 |
The minimum of policies
you should write for each of your customers. If you have less
than this, set 3 as a goal. Cross selling will improve your retention
and will also lead to additional sales opportunities. |
2 |
The number of staff
that should attend an E&O seminar in 2006. For staff of 10
or less, this will qualify you for credit with the Utica E&O
program. For staffs up to 3, only one person need attend to get
the credit. |
1 |
Show a strong commitment
to doing the right thing. Lead by example. Your staff will be
proud to work with/for you. Set a goal of being the # 1 agency
in your community. This may not mean the biggest but the Best! |
Thank you and the best of holidays to you, your staff and your families during this holiday season.