An Unenviable Driving Situation Usually there is a sharp line between personal driving situations and those that qualify as commercial activities. A given vehicle use should be accompanied by the proper type and level of protection. Vehicle accidents are often traumatic, especially if they involve serious injury or, even, death. After an accident occurs, some calm should be introduced along the lines of having confidence in how insurance can assist
Coverage Concerns
Separate wind deductibles are considered essential to maintaining affordable coverage in wind-prone regions, and they give policyholders greater financial incentive to implement wind-loss mitigation measures. At least theoretically. WIND DEDUCTIBLE BUYBACKS Does this now-common offering undermine mitigation efforts? By Joseph S. Harrington Working collectively, property insurers vigorously promote building codes, tax incentives, and other measures to encourage property owners to “build strong” and limit disaster losses. Working individually, however, insurers
THIS ISN’T FAVORITE CLIENT BEHAVIOR We should be able to operate in the insurance realm under a safe set of assumptions. First, our customers should want proper protection. Second, they should be served by insurance professionals using their skills to assist in evaluating coverage needs. Third and finally, when a customer becomes a client, they should be willing to pay for it. There is a practical consideration for businesses that
INSURING THE MODERN-DAY NOMAD Are people living “on the road” protected? Do insurers know what they are protecting? By Joseph S. Harrington, CPCU In the Academy Award-winning film Nomadland, viewers see a grim but uplifting view of older Americans living as nomads out of their vehicles, with no fixed residence. While the focus of the film is on people left behind by economic transformations, the emergence of modern-day nomadism is
Often, the simpler and clearer the insurance coverage, the better it works. Finding the right policy, at the right price and for the proper amount of protection is the goal. However, sometimes circumstances necessitate a zig instead of a zag. In this case, the complicating factor was the applicability of more than one policy. A poultry farmer had coverage under two policies when a loss occurred. A fire broke out
