The Scourge of Social Inflation
Social inflation refers to factors unrelated to general inflation in the economy that underlie rising court awards. Although there are some who deny the existence of social inflation, the preponderance…
Agency Management
Addendums to COIs: Bad, But…
Agents may be asked to complete an addendum to a certificate of insurance; in fact, the agency may almost be forced to do so. Should the addendum be completed? The…
Should the COI Contain Policy Limits or Contractually Required Limits?
How should agents manage a COI in situations where the insured carries limits higher than those required by the contract between their client and the upper tier contractor? Should the…
Mistakes on Certificates Versus Clear Policy Language
Can information inadvertently left on a Certificate of Insurance limit the breadth of protection extended from the policy? The real question is, does a COI alter coverage?
Inadequate Replacement Cost – An Indirect Result of COVID
COVID-related supply chain issues have dramatically increased the cost of building materials. The result, replacement cost limits on property policies may be too low for the foreseeable future. How should…
COVID and the Cost of Building Materials
COVID has affected many areas of life in the US, one is the cost of building materials. Regardless the reason, the cost to rebuild a structure has increased dramatically over…
Legal Action Against the Insurance Carrier: What is the Agent’s Responsibility
ISO’s Commercial Property Conditions (CP 00 90) gives the insured up to two years to file suit against the insurance carrier. Should the agent advise their insured on this limitation?…
COVID Happened, Now What? A New E&O Landscape
COVID and the government actions that resulted were never anticipated, but now it has happened. Such government actions are now a known exposure, what must the agency do to going…
Beware! Certificial, CBRE, and Other Third Party Requests for Proof of Insurance
An agent asks – I received a proof of insurance request from Certificial. They no longer accept COIs. They require us to sign onto their platform and enter in their…
Can Our Agency Cancel or Non-Renew a Client?
In recent months, this has become a hot topic: Can our agency cancel or non-renew a nightmare client?
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