Insurance operations should think long and hard before getting into any type of lending. But consideration of premium finance must acknowledge not just money left on the table, but the opportunities, too. A TIME OF TESTING—AND VINDICATION?—FOR PREMIUM FINANCE Tech-driven vendors say they can help agencies reduce the risk and expense of financing premiums By Joseph S. Harrington, CPCU 2020 could have been a very bad year for premium finance
Coverage Concerns
THE DUTY TO DEFEND IS A MIGHTY OBLIGATION Membership to a tanning spa required providing a fingerprint scan. However, that was the only requirement made of customers in providing personal information. One customer, upon learning that the spa sold the fingerprint information to a third party, headed up a class action lawsuit. The suit alleged that the sales was in violation of a biometric information privacy law. After the spa
In the wake of the COVID-19 pandemic and civil unrest over policing, Americans are buying firearms at record levels, in many cases their first. As an agent or broker, should you care? YOUR CLIENTS BOUGHT THEIR FIRST GUN. OR IS IT THEIR FIFTH? SHOULD YOU CARE? The risk of loss with firearms is remote but real By Joseph S. Harrington, CPCU In the wake of the COVID-19 pandemic and civil
DEPENDENT STATUS DETERMINED COVERAGE STATUS An auto owner was insured under a personal automobile and a personal umbrella policy from the same insurer. The auto policy’s limit was exhausted, responding to the claim where a person, given permission by the vehicle owner to use the car, struck several persons on the side of a roadway. The injured parties sought coverage under the umbrella and the insurer filed for a declaratory
Dig a Little Deeper By Dawn Jackson, AU, AINS BAD TIME FOR SWINE Is the culprit wind or virus? The Court Decisions column is one of the most popular parts of Rough Notes magazine. One reason for this is that the courtroom is where the promises made in an insurance contract often become real. All insurance professionals can develop “what if” scenarios but until those scenarios are tested with an
