TRAINING & EDUCATION     0% complete
Entire section is N/A (not applicable)
No one ever knows it all. Management must commit to provide training and education on an ongoing basis. The world is a dynamic place and we in the insurance business have the added burden of dealing with technical complexity and regulations. In order to cope with this and lower your E&O exposure, your brokerage should consider the following items.
Does your Brokerage:
 Green - Important     Y   R   N   N/A  
   Green - Important     Y   R   N   N/A  
   Green - Important     Y   R   N   N/A  
   Red - Critical     Y   R   N   N/A  
   Red - Critical     Y   R   N   N/A  
   Red - Critical     Y   R   N   N/A  
Example: The receptionist accepts a payment from a client who has dropped by the brokerage. The receptionist provides the client with a written receipt. The client leaves the office under the impression that since this payment will clear his balance, he has coverage. The receptionist forwards the payment to the accounting clerk who applies it to the outstanding balance on the client's Automobile Policy. Neither the receptionist nor the accounting clerk noticed that the policy was cancelled two months ago. The client leaves the office under the impression that he has coverage. What is going to happen when he is involved in an accident?
Management needs to create an atmosphere where employees feel comfortable admitting when they need more training. For example, if one of the Junior Producers did not understand a coverage like Boiler and Machinery, he is:
  • Not going to be able to explain it to a client.
  • Not going to know if the Insured should have this coverage.
Let the staff know you are committed to training and education. It's a win-win situation!

IMPLEMENTATION CHECKLIST - TRAINING & EDUCATION
Identify the areas you feel need improvement:
Notes:
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