Page 17 - COVID-Proof-Your-Agency

Chapter 2 – It’s a Pandemic. What’s Next? | Blew, Caldwell, Masiello

1. Have producers call their most important clients and networking contacts to

proactively discuss the insurance industry response to COVID-19. Have them discuss

business interruption insurance issues and offer to make necessary adjustments to

payroll and sales estimates. Also discuss carrier options for premium payments and

audits. Importantly, producers should focus on maintaining and deepening client

relationships by demonstrating that they care about them.

2. Clients calling about business interruption losses should be told to submit a claim.

The burden is on the carrier to interpret the policy and to decline the claim if

appropriate. In some instances, the client needs a declination letter in order to acquire

state or federal assistance.

3. Several producers are going a step further and building knowledge of the various state

and federal COVID-19 relief acts. They are prepared to share available documents

and information with their clients and assist them in applying for relief. We believe

this is the kind of service which locks clients in forever and is highly recommended.

4. Producers are identifying specific clients in some of the classes of business most

impacted by the government COVID-19 regulations. They are identifying changes in

the business practices of their clients, such as food delivery for restaurants, and

endorsing insurance policies accordingly. This is also necessary for personal lines

clients.

5. Policy delivery has moved completely to electronic delivery, and client visits are now

virtual conference calls. Please note best practices demonstrate that producers should

request approval from clients prior to sending a policy electronically.

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