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Which Carriers Require Errors and Omissions Insurance (E&O Insurance)

Which Carriers Require Errors and Omissions Insurance

Taking a break from the 20-year-old reports in front of him, former homicide detective Louis Scarcella looks outs from the witness box in a Brooklyn courtroom. A row of indignant men wearing hats with the words “Wrongfully Convicted” printed on them look back at him. These men, who are now exonerated, are the same ones he helped arrest and imprison decades ago for crimes they did not commit. As it were, the men were framed.

As Mr. Scarcella testifies at the wrongful conviction hearing, one of the victims of the failure of justice, Derrick Hamilton, can’t help but voice his sentiments. It really bothers him, Mr. Hamilton says, that Scarcella hasn’t been arrested, while he and many other wrongfully convicted men are forever labeled as criminals.

Situations like this and other forms of professional liabilities are not limited to the forensic industry, though.

No matter what business you put up or what industry you specialize in, there will always be risks that stand in the way of your path to success. These risks include honest mistakes that can damage your reputation or ruin your livelihood. But such risks also include accusations of making an error and compromising your clients.

Despite the potential negative feedback and other fallout, though, you still need to take risks for your business to stabilize and flourish.  Protect the business from negative outcomes and costly legal action through errors and omissions insurance (E&O), otherwise known as professional liability insurance.
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What You Should Know About How Consumers Purchase Insurance Today

What Agents Should Know About Client’s Approach To Purchasing Insurance

From retail to real estate, technology makes a diverse range of industries more accessible to consumers. Artificial intelligence is even expected to boost retail profitability by up to 60 percent. So, why should health insurance be any different? More consumers are searching online for​​​​​ your insurance products every year, so what’s stopping you from going digital?

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Increase Medicare Supplements Sales by Using the Internet

Increase Medicare Supplements Sales: Why You Need to Use the Internet

The U.S. Census Bureau has declared 2030 to be a demographic turning point as all baby boomers will be over 65 years old. It also marks a decade when the aging population will outnumber children – a first in the country’s history. This rise in the number of seniors aging into Medicare creates a bubble of opportunity for the Medicare Supplements industry.

Selling Medicare Supplements (referred to by agents as Med Supps and by the Centers for Medicare & Medicaid Services as Medigap) is one of the most lucrative insurance jobs, and it will likely stay that way for years to come. Despite pending policy changes and the continued risk and uncertainty the healthcare sector is facing, the Medigap industry is still worth capitalizing on.

Why? Because by 2035, there will be over 78 million people 65 years old and older in the US, and they will need coverage for services not included in Parts A and B of Original Medicare.
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How to Obtain, Qualify, and Contact Insurance Leads Effectively

How to Obtain, Qualify, and Contact Insurance Leads Effectively

One of the most challenging things for an insurance agent is finding leads. Even if you know life insurance or any other insurance product inside out, you won’t survive without prospects.

On top of searching for leads, you need to make sure these leads are qualified. It can be difficult, as thousands of agents compete for the attention of a few qualified leads. Getting to these leads before your competitors do is crucial to having a long-term and lucrative career as an insurance agent.

If you're looking to close as many sales as you can, your first few steps should be to look for leads, determine if they qualify as a prospect, and reach out to them properly.
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Is It Time To Move From Being A Captive Insurance Agent to An Independent Insurance Agent?

The True Cost of Being A Captive Insurance Agent

In the world of insurance professionals, you can be either a captive agent or an independent agent. Captive agents do not own their book of business, while independent agents own their book of business. It is time to increase your income and return on investment.

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