Agent Training

USING ADVERTISEMENT TO BUILD YOUR CASHFLOW FIRST

BUSINESS

Welcome and Introduction

Goals of the session:

Understand Professional Liability insurance coverages.

Advertisement Do’s and Don’ts

Vocabulary

Professional liability insurance is basically malpractice insurance for professional such as lawyers, accountants, agents, architects, etc. from potential claims for negligence made by their clients. Because of the litigious nature of modern society, an increasing number of businesses servicing owners are purchasing professional liability insurance to protect themselves.

In times past, professional liability policies were only issued to a small customer base of professionals whom courts imposed very high standards of care regarding responsibility for their errors, omissions and acts of negligence. Over the last 30 years, courts have been holding a wider variety of professionals responsible for errors, omissions and acts of negligence with regard to their clients and third parties. This legal trend has led to a large increase in the number of businesses buying professional liability, or E&O coverage.

Vocabulary

Per Claim: Under a claims-made policy, coverage is provided for claims made against the policyholder and reported to the insurance company while the policy remains in force and during any applicable extended reporting period.

$1,000,000

Extended Reporting Period: A time frame that allows the insured to make claims after the 'claims made' liability coverage has expired.

60 days

Aggregate: covers any number of expenses or damages up to a set maximum dollar amount. Beyond that limit, the insurer has no financial obligation.

$1,000,000

Vocabulary

Defense Limit: besides paying for claims or suits, a liability policy also pays for their related legal costs and court fees. Generally include: Attorney fees (including cost of legal staff and expenses); court costs of the applicable jurisdiction; costs of filing necessary legal papers; if applicable, costs of expert witnesses; costs associated with investigation, etc.

Included

Exclusion carriers if below AM Best B+

Inside or Outside Health Exchange: Inside is the Covered CA plans. Outside is other plans outside of Covered CA.

Yes

Vocabulary

Internet: the worldwide public network of computers which enables the transmission of electronic data including intranets, extranets and virtual private networks.

No

Media Material: any data, emails, graphics, images, net casting, web casting, text, sounds, numbers or similar material including any "Advertisement“

No

Vocabulary

Electronic data: facts or programs stored as or

on, created or used on, or transmitted to or from computer software, including systems and

applications software, hard or floppy disks, CD-ROMS, tapes, drives, cells, data processing

devices or any other media which are used with electronically controlled equipment.

No

Vocabulary

Breach of Security: any failure to1. prevent a third party from unauthorized access to, use of or

tampering with electronic data including, but not limited to, "Hacker Attacks" or "Theft of Electronic Data"; or

2. inability of an authorized third party to gain access to the "Professional Services" of the "Insured Organization" including, but not limited to, "Denial of Service"; or

3. negligent or inadvertent transmission of a "Computer Virus" by the 'Insured" to a third party; or

4. failure to preserve data as required by legal or industry standards, or private agreement, or judicial ruling.

No

Vocabulary

Breach of Privacy: 1. false arrest, detention or imprisonment;2. malicious prosecution or abuse of process;3. interference with or invasion of the right to privacy;4. wrongful entry or eviction, trespass, eavesdropping or

any other infringement of the right to private occupancy;

5. breach or violation of any U.S. federal, state or local law, statute, rule or regulation governing the control and use of personally identifiable financial or medical information.

No

Vocabulary

Sale & Servicing:  Life, Accident, Health, LTC, Disability, Medicare and Medicare Supplement Plans, Personal lines, Commercial lines, Expanded Commercial lines, Non-admitted carriers

Yes

Variable annuity and life insurance (S6,S63 license), Investment Advisory Representative (S65 license), Certified Financial Planner (CFP license)

No

Vocabulary

Personal Injury: injury (including but not limited to mental anguish or emotional distress}, other than "Bodily Injury", arising out of false arrest, detention or imprisonment; malicious prosecution; abuse of process; libel, slander or defamation;

$1,000,000

Bodily Injury: physical injury, sickness or disease sustained by a person, including death resulting from any of these at any time.

No

ADVERTISEMENT REVIEWED 1st by compliance

Examples include:

Signs, billboards, radio shows and / or ads, television shows and / or electronic bulletin boards, websites and website postings, logos

SALES LITERATURE REVIEWED 1st by compliance

Examples include:Prospecting letters or emails to two (2) or more retails clients in a 30 day period, brochures, business cards, mailers, handouts, telemarketing scripts, seminar invitations, seminar presentations (including script and slides), seminar handouts, authorized reprints or excerpts of any sale literature or published article

Social Media Use personal page to showcase your

business or personal life, trips, and outings with your family. Mention Personal status message – never mention anything about Selling the business products and services.

Share inspiring photos, article, quotes and videos to engage participation and increase followers.

Social Media

Things to remember: Social media presence is a

representation of you, your business, and the Company. Remember to use appropriate grammar, language and spelling.

Endorsing a particular product, service, or provider is not permitted.

If you plan to use the company logo, you must be sure to use current logo.

Monthly Fees

Includes: Professional Liability Insurance Agency Matrix Website

Recurring payment information:

Set up in your personal bank account the auto bill to PAYEE:

Cashflow First, Inc. Account number: 0031498504

Address: 17951 MacArthur Boulevard Irvine, CA 92614

Due 1st of each month. (allow 7 business days to process)