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If not you may want to add it to your coverage checklist as soon as possible

It's not just Big Business at risk. You may find it counter intuitive that cyber criminals would come after small businesses. Our media typically only reports on the large companies that are compromised. This is because they affect the most people.

Some experts estimate that up to 70 % of small businesses have no internet
security policy for their employees. This is the reason we as agents need to make sure and offer Cyber Liability Insurance to all of our business clients, big or small . Premiums start as low as $500.00 annually.

Do you offer flood Insurance?

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With a historic winter for cold and snow in much of the country; we have to ask ourselves are we ready for the thaw ? The latest artic force has dropped snow even in coastal AL. This brings a risk of flood in an area that is not typically at risk.

Do you only offer flood insurance in Flood plains?

If so you may want to think about offering it on every sale. In Boston the melting snow id already causing small flood claims, with more snow on the way.

Be sure to offer flood every time you write any type of property coverage

Dog bites Man was a really funny show if you ever saw it. However, there is nothing funny about dog bites when it comes to the legal problems they can cause a property owner or a property insurance carrier.

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When I first started my Insurance agency many years ago in San Diego, CA ;
I had little start up money to advertise. So, I joined a local business referral group. We would meet once a week and swap prospects and potential
business source's. I remember we all would have an opportunity to stand up and give our one minute commercial for our business. I recall the one personal injury attorney always would talk about auto accidents, trip and falls ,. Then at the very end of his comments he would raise his voice in excitement and say
" Oh yea don't forget dog bites, We love dog bites!"

The Insurance Information Institute states that there are 4.5 Million people bitten by dogs every year. With 885,000 of those people needing to seek medical attention; about one half of those are children. According to the Insurance Information Institute, the average dollar amount for a claim has risen from
$19,162 in 2003 to just over $45,000 in 2013.

What does all this mean to me, you ask?

If you sell any kind of Homeowners Insurance or even Renters Insurance you may want to take a look at the specimen policy or insuring agreement within.

Most of the time the carrier includes Animal Liability. However, if you are writing a limited policy because of the property or Homeowner being tough to place due to claims or credit issues, you want to proceed with caution.
Some policies will exclude certain breeds of dog's such as: German Shepard, Chow or our poor misunderstood fiend the pit bull. Some carriers will exclude " Any animal with a known vicious nature or history. Some carriers will even go as far as to say "or mix within". Many people including myself do not always no the true breed of dog we have.

So how do Insurance Agents and brokers protect themselves from an Animal Liability E&O Claim ? As usual it is all about documentation. Point out the animal liability section of the Specimen policy and have them sign or initial it. Also, if there is a animal liability exclusion or sub limit make sure to have them sign the exclusion or endorsement.

Read more about dog bite liability here.

Does your Agency Carry a High enough Errors & Omissions coverage
Limit?

I was providing a E&O quote to a new Agency owner in Irvine, CA the other day.
When I asked what liability limits he would consider? He replied" as low as possible and still keep my carriers happy". Earlier the agent had told me that
he was going to own the Orange county, CA Auto insurance Market.

I had to admire his energy and optimism. However, he was under the impression because he was just starting out in the business and had almost no assets he would not be a target for a large claim. I had to inform him he was mistaken and could be exposed to a very large E&O Insurance claim, even if just writing personal
lines Insurance. Also, I had to point out that he was in one of the most litigious areas of the United States.

In the end he agreed to purchase $1,000,000/$2,000,000 limits with defense cost outside the policy Limits. I think we both felt a little better
that he decided to make that choice