Dig a Little Deeper Helping clients understand and navigate uninsured and underinsured motorists limits Court Decisions is one of the most popular features of Rough Notes magazine. Its popularity likely stems from the fact that courtrooms often are where the paper promises made in insurance contracts become real. As insurance professionals, we all can develop “what if” scenarios, but until those scenarios are tested with an actual loss and a
Personal Lines
Vehicle sharing and the influence of telematics Shared mobility services are not only growing, they also are expanding in scope. Among these trends is the significant increase in vehicle sharing programs. A recent Frost & Sullivan report noted that approximately 7 million users were sharing roughly 112,000 vehicles in 2015 in the United States alone. These numbers are expected to grow to over 36 million users and 427,000 vehicles by
Mind the Gap New endorsement responds to exposures created by the sharing economy HomeAway. Airbnb. Today you’d be hard pressed to find someone who isn’t at least vaguely familiar with one of these services. What they have in common is that they are part of the new sharing economy that appears to be here to stay—at least for the foreseeable future. In addition, they also present a host of unintended
Agents must understand the programs available to their customers through the companies they represent Over the past decade or so, several so-called disruptive forces have affected the personal auto insurance market. Among them: telematics and usage-based insurance products, which ushered in new ways for insurers to collect, develop, and use large volumes of refined, driver-focused data to assess and price risk more accurately. On the heels of this wave came
ARTful Measures PURE redefines the insurer-policyholder connection Overall, the insurance industry has enjoyed a good relationship with the public for the past 300-plus years. Many commercial activities would have been curtailed had it not been for insurers being willing to assume some of the risk. This relationship, however, has not always been a match made in heaven. In 1881, six New York- based dry goods merchants expressed discontent with insurers’
