I'm not really sure why this letter is deemed to be "From the Editor." To be honest, I don't do any of the hard work required to put this newsletter out; most of the heavy lifting is done by Leslie Mularski, the agent development assistant. Jennifer Becker, director of education programs, adds her magic to the final product; and Madelyn Flannagan, vice president of all things Big "I" education related, keeps me out of trouble (for which she deserves a medal). This is a team effort in which I play a small part, but am given a big spotlight.
On the VU front, the Technical Affairs Committee (TAC) just returned from its annual meeting with Insurance Services Office (ISO). The meeting went very well. In case you didn't know, the TAC – on behalf of all the members – meets with ISO to discuss policy wording and make recommendations for changes or clarifications. Sometimes they see our point of view and alter policy language and sometimes we see their point of view and agree to keep what is in place. It is really a great working relationship that is very positive for the industry.
In this edition of VUpoint, we look at three interesting topics. One may make you say, "Yep, that's what I keep telling my clients." Another is going to anger a few agents; and the last gives an overview of ISO's newest coverage offering. Just for ease of planning, this week's titles are:
Buddy dug around some and found three interesting Ask An Expert (AAE) questions. Actually, these are questions that probably pop up quite a bit. In this edition, Buddy addresses the social engineering gap in the crime coverage forms; the misuse of the "wear and tear" exclusion in the personal auto policy (PAP); and a combination of the meaning of ordinance or law in the homeowners' policy (HO) and whether or not the insured is due a new roof, siding, or whatever when replacing a partial loss creates a mismatch. There are several links in these AAE questions, I highly recommend following them for some great additional information.
As always, thank you for your support of the VU. The team's desire is to be a primary resource for insurance education, training, and research. We are open to your recommendations. And as I often say, stay thirsty for knowledge, my friends.
Executive Director, Big "I" Virtual University