Replacement Cost and the 180-Day Limitation Myth
Carriers seem to believe that a property loss must be discovered within 180 days of the event causing the damage for the policy to respond on a replacement cost basis;…
Commercial Lines
US Surplus Lines Premium UP More than 12 Percent
Mid-year premium growth reported by the 15 excess and surplus lines (E&S) stamping/service offices across the United States has reached almost $18 billion. Given the fact that the data reported…
Post-COVID World Requires Agents to Learn Leasehold Interest Coverage
During COVID, many if not most employees were assigned to work from home. Office-based operations discovered that remote employees may be just as efficient as they were in the office.…
Big “I” Applauds Founding of Bipartisan Congressional Crop Insurance Caucus
WASHINGTON, D.C., July 19, 2019 The Independent Insurance Agents & Brokers of America (the Big “I”) applauds Rep. Cheri Bustos (D-Illinois) and Rep. Glenn Thompson (R-Pennsylvania) for founding the bipartisan…
Are You Overlooking a $25,000 to $500,000+ Property Exposure?
A mural is a very real insurance exposure, and a very popular addition to many both public and private commercial buildings and residences. One underwriter reported writing $500,000 coverage on…
Employers’ Liability: A Primer
Agents very rarely experience an employers’ liability claim; but this does not mean this important gap-filling coverage should not be understood. There are employee-related gaps in the commercial general liability…
17 “Tests” to Decide: Employee or Independent Contractor
Constant debate swirls around the difference between independent contractors and employees. It seems that every contractor wants everyone to believe that everyone on the job site is an independent contractor;…
Weird Legal Liability Theories You Probably Never Heard Of
Practice the insurance profession long and you begin to hear and learn various legal liability terms ranging from the basic ideas of “negligence” and “torts” to more specific concepts like…
Improper COPE Information Costs Billions – for More Than Just the Insurance Carrier!
Commercial property underwriters have utilized essentially the same information for nearly 400 years: Construction, Occupancy, Protection and Exposure. Known to us mortals as “COPE.” When the correct COPE information is…
The Insurance Industry’s Opinion of Warren Buffett’s New 3-Page Policy
Berkshire Hathaway announced the release of its new small business policy, THREE, on February 11, 2019. In response to this announcement, the VU published its critique of the policy on…
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