Tipped Rig The last one was another trucking account where the agent received an Agent of Record . It included a cargo policy for a cattle hauler to cover one load of cattle up to $ 80,000 with a major truck insurance carrier . The trucker tipped over his rig , resulting in seven to eight calves killed and another 20-30 injured . The injured cattle had to be taken to a local sale barn and sold as " cattle that have been in an auto accident ." That reduced the value of the cattle by $ 18,000 . The cargo policy paid for the dead cattle , but not the decreased value of the cattle being in an accident . The customer had $ 18,000 in uncovered damages .
Lesson Learned : Don ' t take the easy route on the agent of record and assume it was done correctly and read the fine print .
Those of you who were able to attend KAIA ’ s Rural & Small Conference had the fantastic opportunity to receive a topnotch education . The dollars invested in educating agency staff cost you significantly less than the lesson you may learn down the road in potential E & O claims . Hopefully , you will learn to be a smarter agent and not make the same mistakes !
One last thought : having a quality E & O policy backed by expert claims handling is critically important to protecting the future of your agency . I encourage you to reach out to the association to learn more about the Big “ I ” Professional Liability Porgram if you are not already a policy holder .
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