Lots of people are being sued and very few know what they did wrong. Many errors and mistakes could easily have been avoided. Both RECO and OREA produce lots of ammunition to impose liability upon an Agent in a lawsuit.
I think that continuing education is the answer. It doesn’t necessarily have to be mandatory. I find that the people who sign up and take courses are very diligent and like to stay up to date. Those who already know everything that there is to know, are unlikely to come, and if they do, they are just taking up space and looking at their phones anyways. This is human nature and there’s nothing much that can be done about it.
The way that California found to cut down on medical malpractice was to increase astronomically the insurance premiums of the foolhardy with substantial claims records. This would be helpful too, since there are a number of repeat offenders.
Brian Madigan LL.B., Broker