Back to Basics – What Is the Surplus Lines Market?
With today’s hard market, more agents place business with the surplus lines market. This article provides a basic overview of the importance of the surplus lines market, and some pitfalls…
Agency Management
Certificates of Insurance: The Good, the Bad, and the Ugly!
The proper issuance of certificates of insurance is a common problem facing agents, whether they’ve been in the business for decades or they’re just entering the industry. This article provides…
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…
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?
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…
Certificate of Insurance Questions and Answers
Certificates of insurance account for more headaches at the agency level than just about any other issue. Because COIs create so much angst, the VU regularly conducts webinars regarding them.…
Oral vs. Written Binders
Unless there is a legal requirement, is there a reason to issue a written binder on an account? We posed this question to the VU faculty and got a mixed…
Value-Added Services Could Pose an E&O Exposure
Agencies often have to balance business decisions with their E&O implications. Value-added services can be extremely important to the prosperity of agencies. However, it’s important to consider the potential E&O…
Providing Coverage Summaries to Insureds
Agencies and insurers often provide policy coverage summaries. Is this a good idea? As is often the case, the agency must balance the sales and service function with their E&O…
Rewiring the Insurance Industry
This is neither an advertisement nor an endorsement, but rather an informational piece about what one agent-led group is trying to accomplish. Anyone who deals daily with certificate of insurance…
