GET ON THE SAME PAGE FOR SETTLING LOSSES Insurance pros sell protection! Both insurance buyers and sellers want to depend on its availability to respond to losses. However, payments often become centers of serious disputes. Insurer profitability and viability are connected to making payments that qualify under policy provisions and that includes having proper notification regarding settlements. A policyholder under both a personal and an umbrella policy was involved in
Coverage Concerns
Young Professionals HOMEOWNERS POLICIES: A REVIEW Dissecting form types and parts of coverage By Christopher W. Cook As someone who has never worked in the industry, I appreciate the opportunity to attend continuing education (CE) courses offered by state and national associations. While I don’t need the CE credit, they do provide me with information that I can pass along to our readers. Generally, the Independent Insurance Agents (Big “I”)
Mind The Gap By Marc McNulty, CIC, CRM PERSONAL INLAND MARINE Why the coverage offers a better solution for your clients Several years ago—in October 2016 to be exact—we explored in this column the unendorsed ISO HO 00 03 and the homeowners special limits of liability that are contained within that policy form. Specifically, we looked at jewelry and offered the following suggestion: When in doubt, encourage your clients to
Although hurdles remain, successful implementation of a “named perils” approach to liability coverage could improve allocation of capital in casualty insurance, allowing for limits that better reflect an account’s operational hazards. Learn more. “NAMED PERILS” LIABILITY COVERAGE It’s desirable. Is it possible? By Joseph S. Harrington, CPCU In property insurance, “named perils” means “no surprises,” at least when it comes to the cause of a loss. A carrier may be
DON’T ASSUME THAT EXPOSURES ARE SIMPLE It is understandable to think that premises liability may be routine, but there are often elements or circumstances that cause complications. Even exposures that are essentially residential can become entangled. One family owned a farmhouse and several properties as investments. They were all purchased and insured by a Commercial General Liability policy under the name of a limited liability corporation (LLC). The furnished farmhouse
