Cleaning Up Loss Ratio Problems
Throughout the soft market, rates dropped and companies endured increasing losses as the price to pay for cash flow and market share. Now carriers are reacting to loss ratios much…
Customer Service
Why Are Binders Issued for 30 Days?
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…
Showdown: ACORD 27 vs. ACORD 75
When proof of insurance is requested, which is most appropriate, the ACORD 27 – Evidence of Property Insurance or the ACORD 75 – Insurance Binder?
Issuing Binders Without Closing Dates
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…
Agency Underwriting…Establishing a Minimum Limits Policy
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,…
Underwriter Submissions…How to Get to the Top of the Pile
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…
Binding Authority Weather Restrictions
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…
HIPAA HITECH Presents New Challenges for Business Associates
April 14, 2004, that’s the compliance date for the HIPAA Privacy Rule for small health plans. A small health plan is defined as a plan that spends less than $5,000,000…
Monitoring Phone Calls
Do you ever call customer service for a company and get a message that the call may be recorded or monitored? Most likely this is a quality control function and…
What We Know and Don’t Know About HIPAA
Here’s what we do know about HIPAA: _____Here’s what we don’t know about HIPAA: ∞This article includes links to authoritative and otherwise web sites that may answer many of your…
