Understanding your exposure to Errors & Omissions claims is key to developing your operations strategy. Examine what clients and courts expect of you and establish procedures that best suit your brokerage. Members who are part of the IBAO E&O Plan (delivered by Arthur J. Gallagher Canada) receive voucher codes to attend; vouchers are based on specific brokerage requirements (click here for criteria). This seminar must be taken every three years if your brokerage has been claims-free for this period.
Review the duty of care required by insurance brokers and specific actions to control your exposures
Examine sources of claims and claim trends as learning tools
Gain an understanding of the need for consistency in procedures