Since the original wildfire article with this title was written six years ago, the frequency and severity of these real-world natural catastrophe learning laboratories continue to challenge our understanding of the insurance…
Is it time to re-visit the methodology used by agents to determine replacement costs and/or re-construction costs? How confident are you that the real property replacement values that you develop…
With hurricane season a concern and unpredictable weather on the rise, homeowners’ losses can be devastating. After your insureds submit a claim, the insurer will request they document their damaged…
Charts are probably the most helpful resource for keeping track of key Homeowners’ policy provisions. Being able to see key information in one, easy-to-read form aids in memory and retention;…
ISO’s first major change to the Homeowners’ program has been filed. These changes are scheduled to take effect beginning March of 2022. Although this sounds like a long time from…
An agent asks: We hired a new personal lines manager and realized we never developed any homeowners’ charts; do you have any you can share?
An often asked question is, “Which is more appropriate when writing a townhouse within a homeowners’ association that purportedly provides the real property coverage for the entire building?” This is…
The concept of actual cash value (ACV) is far more complicated than “replacement cost minus physical depreciation.” In fact, the meaning of replacement cost differs based on the state. To…
When your insureds use Yelp, Twitter or even Facebook they open themselves up to charges of libel and defamation of character. Is your personal lines client protected? A Yelper is…
Valued policy laws require the insurance carrier to pay the face amount of the policy if the structure is a “total loss.” In these situations, it does not matter if…
