 What ho, brave knights and fair ladies of insurance agency-dom! 'Tis the Renaissance festival season, and fictional 16th century English Villages are popping up around the nation to welcome thousands of guests who wish to imagine life in a different era while shopping, eating and enjoying entertainment. Locally, the Maryland Renaissance Festival is one of the largest in the nation and the many exhibiting artisans as well as artist and artisans around the country could benefit from RLI's Home Business Insurance Policy.
Home-based business owners may think their homeowners or renters policies will cover the cost of loss or damage to business equipment, inventory or supplies. In reality, most policies exclude coverage for business exposures.
It's wise to ask your customers about their home-based business exposures and review their policies to see if they need additional coverage. For the Renaissance crowd, RLI's HBI policy can be written for those who:
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make leather goods and clothing
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make costume jewelry
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entertainers/clowns/musicians
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dessert vendors
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popcorn/candy/nut vendors
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hot/cold beverage vendors
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game/puzzle vendors
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and more!
Coverage includes up to $1 million in business liability protection, up to $100,000 comprehensive coverage for business personal property, $5,000 per person for medical payments to customers injured on-premises and coverage for loss of income. The product is targeted to more than 140 retail and service risks that present minimal product and/or professional liability exposures. Coverage also extends to business personal property that is in transit or temporarily off-premises, when an insured is offering products at county fairs, tradeshows, galleries, etc.
For more information on RLI's Home Business Insurance Policy, or to contact your state's administrator, visit www.iiaba.net/homebusiness.
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SPECIAL FEATURE
Secure Your Space: Free Agency Risk Management Webinar Oct 3.
 ou're an independent agent in a digital world. You have a web site. You use email. You post on social media. But can any of that get your agency sued?
The next Big "I" Professional Liability/Swiss Re Corporate Solutions quarterly webinar, Agency Risk Management Essentials: Digital Dangers in your Marketing Presence, is scheduled for Oct. 3 at 2 p.m. ET. There is no cost to attend the one hour session.
Register today to learn about the digital dangers lurking in an agency's marketing presence. Our panelists will explain how agents can use their website and social media presence to their advantage, while also revealing some errors and omissions dangers along the way.
The discussion will feature Ron Berg, Agents Council for Technology executive director; James C. Keidel, Esq., managing partner at Keidel, Weldon & Cunningham; and Matthew Davis, claims manager, and Richard Lund, underwriter, both vice presidents at Swiss Re.
Big "I" Professional Liability offers free quarterly risk management webinars as an exclusive Big "I" member benefit. A collection of risk management resources, including articles, checklists and webinar recordings, is available on the E&O Happens website. Log in with your Big "I" username and password to check it out.
If you or your members have any questions that they would like the webinar to address, contact Jim Hanley.
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The Difference Between Standalone Jewelry Insurance and a Homeowners Policy
 If your customers are relying solely on their homeowners insurance for jewelry coverage, their jewelry may only be protected against specific cause of loss and usually up to a specified limit. But when it comes to insuring your clients’ jewelry, they don’t want ifs and maybes.
Here's why specialty jewelry insurance from Jewelers Mutual Insurance Group makes sense:
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Jewelry is all they do and have been doing for 105 years
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Repair and replacement policy means the ring gets back on the finger where it belongs
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Flexibility to work with their trusted jeweler of choice; no need for multiple estimates
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Claims start with a jewelry expert who knows exactly what your client needs and ends with a same-kind-and-quality jewelry piece
See Jeweler's Mutual's coverage comparison chart below for the benefits of having a standalone jewelry insurance policy versus relying on coverage through typical homeowners or renters insurance or a rider.
Click for larger version
What does Jewelers Mutual cover?
All types of jewelry - engagement rings, watches, earrings, even loose stones being set - are protected by comprehensive repair or replacement coverage that goes beyond typical homeowners or renters insurance. It protects against common perils associated with jewelry loss - like mysterious disappearance, and includes worldwide travel.
Retain your clients. Offer a quote for worry-free jewelry coverage at jewelry.bigimarkets.com. For more information about Jewelers Mutual, select Jewelry Insurance from the Big "I" Markets product listing at www.bigimarkets.com. Coverage is available nationwide.
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NEW ISO Personal Auto Policy Change
Big "I" Virtual University
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NEW Lightning Learning for September
Big "I" Virtual University
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Date: Wednesday, September 12
Time: 1:00 - 2:30pm EDT
Cost: $49 (includes live presentation, recording and written transcript)
Summary:
Insurance Services Office (ISO) filed 30 changes to its personal auto program to be effective September 1, 2018. Nine changes are being made to the base PAP form itself and 21 endorsements were either revised, removed, or created.
Exclusions previously requiring the attachment of three endorsements are now included in the base PAP.
In this session, we will review the purpose of certificates (old information), answer the 21 (probably more) most common questions we receive, and will explore some of the more unusual questions we've heard as well.
Additionally, this filing:
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Introduces seven new optional endorsements;
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Inserts a brand new, seemingly ridiculous exclusion into the base PAP;
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Kills off five endorsements:
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Revises 12 endorsements; and
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Makes various changes to the policy form and endorsements.
Don't miss this overview of the major additions, deletions, and revisions you need to understand in order to advise your clients.Please send any questions to VU staff. Review all VU education offerings here.
Registration:
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Dates: September 6, 18, 27
Time: 11:30 - 11:50 a.m. EDT
Cost: $9.99 for all three sessions
Summary:
The VU's September Lightning Learning series features three 20-minute sessions dedicated to OCP, MCS-90, and liquor liability Even if you can't participate in the live sessions, you will receive a link to the on-demand recordings and can listen to them at your leisure. Register once and attend:
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September 6 - " September 6 - Is an OCP Worth the Premium
An OCP is not equivalent to the CGL; its closest comparison is the coverage granted to only the additional insured when the CG 20 10 Additional Insured - Owners, Lessees or Contractors endorsement is attached to the CGL. But even coverage extended to the additional insured by the CG 20 10 is broader than the coverage offered by the OCP. There are major gaps in the OCP leading to the question, is an OCP worth the premium?
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September 18 - Is the MCS-90 Broader Than the BAP
The MCS-90 was designed to assure that an at-fault "for-hire" or public motor carrier could fulfill its financial responsibility to the public, regardless of the insured's failure to comply with the underlying insurance policy's terms and/or conditions. But it was not designed or intended to extend insurance protection to non-insureds or create coverage where none existed. This session reviews the MCS-90 and how it might be misapplied.
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September 27 - Understanding Liquor Liability Laws and Coverage
Operations serving or supplying alcohol can be subject to charges of negligence when, for example, a patron or third party is injured as a result of the negligent service of alcohol or negligence in not preventing an individual from injuring a third party. Legal liability can also arise out of other negligent actions or inactions. This session will introduce various types of laws, staff training option and the availability of liquor liability coverage.
Consider presenting conference style for the entire agency to benefit. Please send any questions to VU staff.
Registration:
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Be one of the first five with the correct answers and win a $5 gift card (Starbucks, Dunkin' Donuts, Baskin Robbins, or Krispy Kreme).
Congratulations to this week's winners - Wendy Harvey (RI), Wendy Jefferies (MO), Jim Thomas (NJ), Diane O'Donnell (NE), & Kay Comeaux (LA).
1. Born on this day in 1802, Marcus Whitman led the first large wagon train across this famous path, which would later be made into a video game. He did not die of dysentery. - THE OREGON TRAIL
2. The oldest customer complaint on record was by a Nanni in 1750 B.C. What were the goods in dispute? - COPPER INGOTS
3. Deemed too unsafe to remain, a historic magnolia tree on the White House grounds was cut down last December. This tree was planted by which U.S. president? - ANDREW JACKSON (A tribute to his recently deceased wife)
TIE BREAKER
TB - On 8/9 a man in Karlsruhe, Germany called the police because he was being chased by what menacingly vicious animal? - A BABY SQUIRREL
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BIG "I" MARKETS SALE OF THE WEEK
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