Virtual University

News from the Front Lines: Insurance War Stories That Make You Go, “What?”

What an industry we chose! We get to see the good, the bad, the ugly, the stupid and utterly ridiculous. This is the stuff of legend and it reminds us…

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Trusts: Watch Out – Lawyers Strike Again

Trusts are often used as a means to avoid some of the issues related to probate and estate taxes. However, the lawyers rarely tell insureds that when a trust is…

Why Defining Actual Cash Value is Amazingly Difficult

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…

Law.

Why Defining Actual Cash Value is Amazingly Difficult

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…

Bird Flu, Swine Flu, Just the Flu and Pandemics: How Workers’ Compensation Responds

Threats of specific kinds of flu and pandemics garner heavy media attention. When any disease strain threatens a large geographic area, it gets lots of press as the next pandemic.…

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Beware the Changing World of CGL Exclusionary Endorsements

ISO endorsements are reasonably well understood due to their familiarity; but proprietary endorsements aren’t standardized or always familiar. This means agents must read all endorsements – ISO and especially proprietary…

The spy gets access to the data. Threat to personal data and secret documents. Industrial and financial espionage. Confidential information leakage. Hacker hacking database. Unauthorized admission

What is Premium Leakage?

Premium leakage costs the insurance industry about $30 billion per year in premium and $3.6 billion per year in commissions – it’s a major problem for both carriers and agents.

Technician man hand using glue gun with silicone adhesive or manual caulking gun with polyurethane to seal the leakage on the roof. Installing and building construction concept.

E&O Risk: Agents, Carriers Urged to Review Web Copy

Lawyers can pull information off an internet archive, such as the Wayback Machine, which retrieves assertions agents have made to long-term clients on earlier versions of websites. When used well,…

The image of a gavel in a shopping cart suggests the intersection of consumerism and legal matters.

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