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April 2017 -- The E&O Report

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E&O Report Header 
 April 2017
Volume 29, Number 4

         The 2017 Annual E&O Loss Control Seminars

In May and June, IIABNY’s annual errors and omissions loss control seminars will again be presented by the law firm of Keidel, Weldon & Cunningham, LLP. If you are interested in attending the upcoming seminars, you should contact IIABNY and register as soon as possible. This year’s format will be similar to the seminars we presented in the past, but now we are introducing a new way for you to attend the seminars. If you want to find out more, continue reading. In this issue of The E&O Report, we explain what we’ll cover during this year’s seminars and the various ways you can attend.

​​​On a Related Note
Please also feel free to let us know about any issues or topics that you may want us to address in future issues of The E&O Report. Many of the topics we write about in The E&O Report originate from issues agents and brokers bring to our attention through telephone calls and emails. If you have any ideas in this regard, please reach out to Jim Keidel​ and let him know what you have in mind. From our experience, an issue that one New York insurance agent or broker is facing may actually be much larger and affect many other producers across the state.

As usual, my partner, Chris Weldon, and I will present the annual seminar series. The seminars will be offered in May and June in two separate formats. First, Chris and I will lead the four-hour, live seminar at five locations across New York during the month of May. Usually, we start the seminars upstate and work our way downstate. However, this year we’ll start the seminars downstate. If you are interested in attending, here are the locations and dates.

​May 16 – Islandia, Long Island May 24 – Syracuse
​May 17 – New York City May 25 – Buffalo

May 18 – Westchester County

The live classroom-styled seminars qualify attendees for four continuing education credits for all licenses. In addition to the five seminars, a four-hour telecast seminar will be presented live on June 7 from Hudson Valley Community College in Troy. The seminar will be simulcast to 10 locations across the state. In addition to those sites, the telecast will be streamed live across the web, giving agents and brokers the option of “attending” the seminar in the comfort of their office. The June telecast seminar is the same four-hour seminar presented live at the five locations in May. Depending on its size and number of staff attending the live or telecast seminars, an agency or brokerage can also qualify for a 10 percent premium credit if insured with Westport Insurance Corporation or a 7.5 percent premium credit if insured with Fireman’s Fund Insurance Co. on an E&O insurance policy issued through IAAC, IIABNY’s member services division.

In addition to receiving continuing education credit and premium discounts, seminar attendees will learn essential and practical E&O loss control techniques that can help reduce the likelihood of a claim or lawsuit. We will review “real-life” E&O claims and lawsuits that illustrate the issues under discussion. In our experience, discussing actual claims and cases help seminar attendees better understand the benefits of following the various E&O loss control practices we’ll discuss. When used consistently by agencies and brokerages, these practices can not only reduce the likelihood of an E&O claim or lawsuit but help improve customer service and frequently enable an agency or brokerage to sell more insurance.

In each monthly issue of The E&O Report over the past year, we asked IIABNY members to provide us with issues and topics they want us to address at the 2017 seminars. Based upon the feedback we received from the association’s members and staff, we prepared an outline for the 2017 E&O seminars. The following is a sampling of some of the topics we’ll cover this year during the seminars.

  • Relevant laws affecting property and casualty and life and health insurance agents and brokers
  • New York's new cybersecurity regulation and how to comply
  • The most common agent and broker issues involving the New York State Department of Financial Services
  • Handling a state Department of Financial Services inquiry
  • Best practices for documentation
  • Agency mergers and acquisitions

Last year, approximately 1,300 insurance agents and brokers attended both the live and telecast E&O seminars we presented for IIABNY. We encourage all New York insurance agents and brokers to register as soon as possible for either a live seminar or the telecast seminar. You can register by visiting the Education Section of the IIABNY website or calling IIABNY at (800) 851-8853.

We look forward to this year’s annual E & O seminars and hope all of you will be able to attend one of the scheduled sessions.

Submitted by:
James C. Keidel, Esq.
Keidel, Weldon & Cunningham, LLP

Keidel, Weldon & Cunningham, LLP concentrates its practice in the defense of insurance agents and broker's errors and omissions claims and litigation, errors and omissions loss control counsel and education, insurance coverage analysis and litigation and insurance regulatory matters. Please direct any comments or questions to James C. Keidel, Esq. by mail to the main office of Keidel, Weldon & Cunningham, LLP, at 925 Westchester Avenue, Suite 400, White Plains, NY 10604, telephone at (914) 948-7000 or e-mail at jkeidel@kwcllp.com. The law firm also maintains offices in Syracuse, New York; New York City, New York; Wilton, Connecticut; Fair Lawn, New Jersey; Warwick, Rhode Island, Philadelphia, Pennsylvania, Williston, Vermont and Naples, Florida.
 
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