ACCREDITED CONTINUING EDUCATION & ONLINE INSURANCE COURSES FOR FUNDAMENTALS OF INSURANCE, CAIB*, RIBO**, ALBERTA GIL & OTHERS

October 6, 2017

Last Updated on March 1, 2022 by Jacques Wong, B.Sc.

Every once in a while, insurance companies come up with new products or coverage extensions.  To announce these, they will typically send out marketing brochures or put on seminars to explain the new product to brokers.  When that happens, it is best practice for brokers to read them and notify your clients if appropriate.

This is for 2 reasons:

  1. If/when your client has a claim denied, they may say that if they had known about this new product or coverage extension, they would have bought it and been covered.  This is a source of potential E&O liability exposure.
  2. As brokers, we always want our clients to have the coverage that is the best fit for them.  If this new product is a better fit, why not tell them about it?  This also provides you the opportunity to increase revenues via upsells and cross-sells.

In summary, when a new product comes across your desk, spend a few minutes reading it.  It could save you from potential liability AND help you make more money.

Jacques Wong is the CEO and Director of Education at PNC Learning. An award-winning licensed insurance broker with over 15 years of experience in both education and the insurance industry, Jacques is recognized for his expertise and effective communication strategies. He achieved the highest provincial scores on his CAIB* 3 and CAIB* 4 exams and contributes to leading insurance publications. Jacques is dedicated to making insurance knowledge accessible for everyone through his unique approach and online content.

Jacques Wong

 Jacques wong

RELATED

The Best way to learn about our courses is to try them for yourself.

SIGN UP FOR A FREE TRIAL & GET $10 OFF ANY COURSE/BUNDLE.

Translate

PNC LEARNING

PNC Learning was started by insurance professionals for insurance professionals.

Our goal is to help you get a strong start in the industry and assist you as you seek to learn more and move up in the industry.