As the U.S. braces for the third wave of COVID-19 infections, the insurance industry also is preparing for even more potential E&O claims. (Photo: Shutterstock)
History has shown that after major disasters, the insurance industry typically experiences a surge in agent/agency errors & omissions (E&O) claims.
When there are many people involved in a crisis, judges tend to be more liberal in interpreting insurance policies and cases that are brought against insurance agents, thus increasing potential claim activity. This can lead to judges who are determined to find some type of coverage under an insurance policy or to uncover evidence that shows where the insurance agent may have breached his/her duty for the standard of care by failing to offer or provide the appropriate coverage.
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