Agency Operations

We all know that binders have historically been issued for 30-day terms. Why is that and can a binder be issued for longer terms, perhaps even as long as the…

When proof of insurance is requested, which is most appropriate, the ACORD 27 – Evidence of Property Insurance or the ACORD 75 – Insurance Binder?

An agency has had several requests from mortgage brokers and lawyers asking for binders showing the new mortgagee without having set closing dates on new loans. They insist that the…

CLUE reports, like MVRs, have become a staple of most personal lines underwriters. However, what happens when someone discovers an error on a CLUE report? What are the ramifications for…

Quite a few agencies now practice agency underwriting by establishing minimum limits that they will write for auto, CGL, etc. There are definitely advantages to doing this and, in general,…

Recently, our “Ask an Expert” service received a simple, one-sentence question: “How do you get your submissions noticed by an underwriter?” In this article, we’ll give you some tips from…

Your agency/company contract has been amended as follows: “The Agency shall have no authority on behalf of the Company to provide new coverage or increase existing coverage when the National…

There are some excellent excess and surplus lines markets in this industry, many providing products and services superior to those in the standard market. However, there are inherent dangers in…

Insureds, especially commercial clients who hire drivers, often ask their agent to furnish them with copies of MVRs on current or prospective employees. Under the Fair Credit Reporting Act (FCRA),…

With more stringent underwriting that has resulted from a proliferation of mold and water damage claims, agents and others are facing increased demands for background reports when real estate is…