Paul Elliott leads the dealer practice group at Insurance Office of America, where his team has placed over $35 million in premium protecting more than 350 franchised and independent dealerships across the country. If anyone in the industry knows exactly how dealerships bleed money on claims that never had to happen, it's him.

The FTC just sent 97 warning letters to dealerships. Yours could already be on that list and you wouldn't know it.

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What we discuss in this episode:

In this episode, Paul walks through four real E&O claims that cost dealers serious money, and every single one started as a small, forgettable mistake. A finance manager who typed one wrong APR. A digit transposed on an odometer reading that turned 27,000 miles into a lawsuit. Hail damage that wasn't covered because nobody checked if the policy actually got bound. A repair that got fixed, but never disclosed.

None of these dealers thought they were taking a risk. That's exactly why they got sued.

Paul breaks down what actually protects you when a claim like this lands on your desk, and it isn't a bigger insurance policy. It's the two-minute habits most dealerships skip: the second signature, the printed vehicle history report, the one phone call that confirms coverage before the customer drives off the lot.

If you run F&I, service, or recon and you've never asked "could this come back on us," this episode is the 45 minutes that answers it before a customer's attorney does.

Listen to the episode featuring Paul Elliott for even more insights!

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Apple: https://podcasts.apple.com/us/podcast/fixed-ops-roundtable/id1608656237

Spotify: https://open.spotify.com/show/15HHYoyvCo1PSFwYn02UXY

Thanks, Paul Elliott

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