E&O Can Your Website Be Used Against You?

CAN YOUR WEBSITE BE USED AGAINST YOU?

Absolutely.

As much as your website is a strong tool for advertising, posting information, getting referrals and even accepting payments, it also has a growing potential to be used against you in an E&O claim. Website content should receive the same consideration as a paper document when it comes to making promises and touting the skills of the agency being represented. Here are just a few risk management tips to keep in mind when evaluating the risks that may be present on your agency website.

By: Mallory Cornell

IIAW Vice President & Swiss Re Approved Auditor

First and foremost, what standard of care are you setting through promises on your website. Avoid making impossible promises that could be difficult to defend at your E&O trial. Examples of this language found on websites include:

1. “We start by taking the time to learn your business. We ask the right questions to uncover your unique requirements and individual concerns. Then we help you to understand your potential for risk, no matter how elusive it may seem.”

2. “We address your need for a comprehensive risk management program and can reduce your overall cost, increasing your profitability and productivity.”

3. “We dig into the insurance specs to make sure you include all proper coverages on every job you bid.” From a content perspective, be mindful of the information and articles you are posting. If the content was created by the agency, are all the statements factual? The more specific the information being provided, the higher the risk of allegations against the agency for providing inaccurate advice. If the information is from another source, does the agency have permission to post it and has all the information been reviewed for accuracy?

Also, be mindful of that helpful “click here” button provided to make it easier to contact the agency. A customer may decide to send personally identifiable information through the system creating a potential data breach exposure.

These are just a few quick tips to remember when you’re reviewing or creating your website. Take a moment to review your website and ask yourself some important questions.

• Do you have a privacy statement on your website? • Are appropriate disclaimers included on your site? • Is all content on your website accurate and do you have permission to post it? • If you collect information or payments on your website, are you compliant with state and federal privacy and data breach notification laws and regulations?

Contact me today at Mallory@iiaw.com to learn more about how I can assess your website and assist you in preventing it from being used against you in the event of a claim.

Insurance Agents Errors and Omissions Coverage That’s Right For Your Business

Why Big “I” Professional Liability and Swiss Re Corporate Solutions

Prompt, local service: You can expect superior customer service, in-house underwriting authority and prompt turnaround on quotes, policy delivery and answers to questions.

More premium discounts: Qualifying agents can save over 50% in premium discounts including the loss control, claims free, agency operations improvement review, efficiency and carrier concentration credits.

Deductible savings: Loss only deductible available along with deductible reduction feature offering up to 100% savings of deductible (up to $25,000) per claim with proper documentation

Claims handling: Prompt and thorough claims handling by an experienced staff made up primarily of licensed attorneys that stand ready to support policyholders with any potential incident and claim.

Agency risk management tools: Access to experienced E&O Risk Management team through our partnersand online tools for agency risk mitigation

Exclusive: A Big “I” member exclusive policy form and premium credits filed on a Risk Purchasing Group basis giving Big “I” members tailored coverage.

Member oversight: A Professional Liability Committee including IIABA member agents oversees an directly influences the program. Our program was designed

by agents for agents. Swiss Re Corporate Solutions Policy Form Highlights

Big “I” Professional Liability program and Swiss Re Corporate Solutions pride ourselves on offering the strongest coverage form in the marketplace that continues to evolve to meet the changing needs of the agents. Review the preferred policy form and you will find that these are just a few of the coverage benefits: • Rate A+ by A.M. Best • Claims-made coverage with full prior acts available • Limits of liability up to $25 million • Broad definition of covered professional services and activities • Comprehensive definition of insured • Aggregate deductibles available • Defense cost outside the limit • $25,000 1st Party Personal Data Breach • $1,000,000 3rd Party Personal Data Breach sublimit available • 60/40 consent to settle clause • Crisis Management coverage; up to $20,000 per policy period for fees, costs and expenses incurred within 6 months of a crisis event • Deductible reduction up to $25,000 per claim with proper documentation, no limitation to the number of claims • Catastrophe Expense $25,000 per incident, $50,000 per policy period • Regulatory defense $100,000 per policy period in addition to the limit of liability • Several options to earn premium discounts up to 30%

If you have any questions, please contact LeeAnn Smelley, leeann@bigioregon.com.

CULTURE GETS HUMAN

By: WAHVE

A close friend is deep in the throes of a job hunt. While he’s been with his current company for seven years, he’s seeking new opportunities now. There are a few traditional reasons, such as the fact that there aren’t a lot of chances for him to take on new projects or grow his career, or that his compensation is stagnant. But perhaps the most important reason is that my friend, once a work-from-home skeptic, adjusted his lifestyle to accommodate teleworking during the pandemic, and now that he’s experienced all the benefits that a flexible work environment can offer, he’s hooked. He’s had more time with loved ones (particularly his children); less time spent commuting and therefore more time available for hobbies or athletic pursuits (he’s become very fond of his morning neighborhood stroll); and the ability to pitch in more with household chores and the caring of an ill and elderly relative. However, his current employer is still operating as if it’s 2019 and this flexibility is a temporary situation. Its return-to-office plans make no mention of telecommuting, asynchronous working or flexible schedules.

This is a big mistake. A new report from LinkedIn Talent Solutions called the 2022 Global Talent Trends finds that company culture has undergone a massive overhaul—and more and more employees are thinking like my friend. “[Culture] is being reshaped in a crucible fired by the pandemic, the acceleration of automation, the rise of millennials and Gen Z in the workforce, and the Great Reshuffle,” the report noted. “Employees are demanding—and quite often getting—more freedom to work where and when they want and more attention to their well-being.”

The report found that this new culture embraces employees as humans first and workers second, with “flexibility, asynchrony, trust, belonging, and a holistic focus on wellbeing” becoming the most important qualities in a workplace.

For me, one of the most interesting tidbits from the study was that flexibility wasn’t just good for employees—it can help companies, too, by driving them “away from presenteeism and toward performance.” It takes a strong, authentic company culture to support this, because accountability and trust are paramount, but it also means this structure “will work well no matter what time zone you live in or what time of day you do your work.” And when employees are satisfied with their companies’ time and location flexibility, they’re 2.6 times more likely to be happy at their jobs, and more than twice as likely to recommend working for that company, LinkedIn found.

Clearly, we’re never returning to (work) life as we knew it. What are some ways your company culture has shifted, and what are you doing to help mold it to this new, flexible future?

If they can do it, we can place it.

WHAT ABOUT A STARTUP WATERPARK?

Every risk starts with a big, bold idea. And at RPS, we believe that every risk deserves the most secure placement. That’s why we never say no when it comes to finding trusted markets for unprecedented business ventures. Let’s talk about what’s new, what’s next, and what’s possible.

Let’s get in touch

ContactRPS@rpsins.com www.rpsins.com