Lesson: This claim could have been avoided if the agent would have asked the owner the weight of the truck. Don't guess at the weight when the correct answer is easy to obtain. (read claim)

Lesson: When moving coverage from one carrier, be sure the coverages are at least equal and if they are not, communicate the differences and document your discussions with the client. (read claim)

Lesson: When replacing coverage, be sure the coverage obtained is at least as favorable as the policy replaced. (read claim)

Lesson: When servicing a large commercial account, be aware of the relationship of all related entities associated with the account, and inquire as to the coverage protection needed for each entity. All discussions with the clients concerning coverage should be documented. (read claim)

Lesson: When a law is changed that may affect coverage, seek legal advice before deciding to remove coverage for clients. (read claim)

Lesson: Ask clients for a description of their property before going to photograph the property, and read maps carefully. (read claim)

Lesson: Ask sufficient questions of clients to know if the amount of coverage being requested is enough to cover a building. If a quote had been given to a prospective customer, and the prospective customer eventually becomes a client, keep all records together. (read claim)

Lesson: Carefully examine any requirements for coverage an insured presents, and explain to the client when a particular coverage requirement cannot be met. (read claim)

Lesson: When dealing with an MGA, carefully review any proposals to ensure they meet the client’s needs. (read claim)

Lesson: Know what is and what is not covered under a Builder’s Risk Policy and secure additional coverage if there are limitations to coverage for the structure under the Builder’s Risk policy. (read claim)

Lesson: Read the policies procured for customers to determine if the coverage requested by the client was the coverage secured. In addition, FEMA maps should be reviewed to determine whether or not a risk resides in a flood plain. (read claim)

Lesson: When replacing one policy with another, extra attention is needed to ensure the coverage available in the new policy was at least equal to the coverage available in the old policy. (read claim)

Lesson: Be sure of all the rules and regulations pertaining to all states in which a Worker’s Compensation policy may apply are adhered to. In particular, if a state requires coverage to be placed with an admitted carrier, make sure the carrier is admitted in that state. Also be licensed in all states where you sell insurance. (read claim)