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Every E&O agent will stress the importance of documentation, but documentation alone is not enough – the quality of your documentation makes a huge impact. In actuality, the quality of documentation (or lack thereof) is one of the most important factors in determining the direction an E&O claim takes.

It is crucial that agents are diligent about documenting all interactions with prospects and customers because, in most states, when someone requests coverage from an agent they are bound to provide such coverage or inform the insured that coverage is not available or is excluded.

We recommend that agents develop an ability to take notes detailing any questions asked or details raised during meetings with clients or prospects, whether face to face or on the phone. It’s then advised that you provide some type of memo back to the client chronicling your discussion. By keeping up this level of documentation with your clients you can easily identify and address any potential misunderstandings between what your clients have requested of you and what you’ve provided. If a problem occurs later where a customer claims they’ve asked for a specific coverage or service that has not been delivered, and it goes against the record of your meeting, having sent the document back to the customer allows you to reference the shared document and remind the client of your conversation.

We know firsthand how hard agents work to sell themselves and their agency to prospective clients. It’s important you find a balance between talking and listening as well as documenting these discussions. For the best results, document as soon as possible after wrapping up your meeting to ensure details are fresh in your mind. While it may take some time to develop a habit of quality documentation, it will be time well spent and could be what absolves you in the event of an E&O claim.

Call us today to get an errors & omissions insurance estimate at (866) 840-8004.

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