| Big "I" Virtual University (VU) experts have educated agents on the "Where You Reside" homeowners insurance issue since 2001, including creating a "Featured Resources" area in the VU containing a white paper, related articles and case information.
In 2005, the Big “I” Technical Affairs committee (TAC) met with ISO to discuss this coverage issue with a series of points and counterpoints. The two parties finally reached a negotiated agreement on changes to ISO’s Homeowners program in November 2014. Neither viewpoint “won” per se, but the resolution is workable and presents a starting point for further evolution and tempering of this homeowners issue.
To take effect in most states Oct. 1, the nationwide ISO filings will include a new mandatory endorsement, an optional broadening endorsement and a non-filed notice/questionnaire form.
The April 17 issue of the VUPoint newsletter provided a detailed overview of the forthcoming change to ISO’s Homeowners program. On July 8, a free webinar will further explain the significance of this change and reveal what the TAC will do to continue addressing this issue with carriers, advisory organizations such as ACORD, regulators, the media and consumers. This webinar has a limited capacity, so register today.
Big “I” Virtual University webinars help your agency stay on top of critical industry topics. Upcoming webinars includes:
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