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Specialty Lines Insurance - Coverage or Money for Nothing?

Specialty Lines Insurance - Coverage or Money for Nothing?

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Quick Overview

There is a way to win against the sell more model. There's the service better model. Join us as Fred Fisher helps us to discern the potential issues that can arise in specialty lines policies and as you identify those issues, you can better serve the clients and keep them longer.

$129.00

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Duration 1 hour
Location Online Webinar
Formats On-Demand
Instructor Frederick FisherFrederick Fisher

An article in the Insurance Journal by Catherine Oak headlined that “To paraphrase Mark Twain — reports of the demise of insurance agencies have been greatly exaggerated”. The thrust of the article was based on several major trends that are impacting the insurance industry, including agency consolidation, ease of starting a new business, the age gap, and insurtech and artificial intelligence. Agency consolidation does create formidable competition for small independent agencies.

Yet, this Webinar will delve into how you can outsell the “Big Boys”…

Those independent Agencies that WILL advise their clients and do help their clients obtain the financial security they deserve will outsell any big agency where the model is to “require the agency to adopt a uniform business model,”, i.e., sell, sell, sell as if insurance is a tangible product like toothpaste. It's not, it's intangible, and one will not know if it's worth anything until a claim is submitted. That’s not a time when one would want to receive a “surprise”. Even Homeowner Insurance has become complicated as to ACV values, Replacement Cost, and Law and Ordinance coverage (insured Cost of Code upgrades for the uninformed). Many of the acquisitions taking place are fueled by Private Equity money. They may only care about ROI at 20% – not service or advice to the customer who supposedly must read the policy AND understand it despite no training or experience the Licensee has. It's just making money for them following that model.

When agents and brokers sell based on how an insurance company responds with fair coverage language, you cannot be beaten. Over the last five years, over 280 appellate decisions of come down either expanding coverage, or more frequently narrowing the scope of coverage dramatically. As often said, the devil is in the details, which is exactly what this class will examine. There are certainly dangers that exist in all claims-made insurance policies. This course will deal with specific appellate decisions with respect to language in Specialty lines policies that can create error and omission claims for insurance brokers. You don't want to miss this one if you're selling Specialty line policies. You will provide better service to your clients and hopefully generate more new business as a result. This gives you an advantage over those who only sell, sell, sell.

$129.00
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