While providing advice to your clients can strengthen relationships, it can also expose you to Errors & Omissions (E&O) claims. Claims can arise from issues like failure to recommend proper coverage, giving inaccurate advice that results in financial harm (such as workers’ compensation payroll miscalculations), or missing key risks. Many errors & omissions (E&O) claims…
In today’s hard market, getting an underwriter’s attention is harder than ever. This article from a highly experienced underwriting consultant can help you get your application to the top of the inbox. For emerging agents, this is a must-read article. For any of you frustrated with underwriting response time or lack of response, this article…
While the reality of today’s underwriting is often, “Does this fit the box?” today’s hard market has caused many agents to scramble toward wholesalers and carriers with heartier appetites. However, submissions swamp today’s underwriters, and they may only scratch the surface of an application before responding, “No way!” How do you get your underwriting submission…
Perfluoroalkyl Substances (PFAS) are a hot topic with Insurance Services Office rolling out forms to exclude coverage for PFAS. This article will provide what we know to date on this important topic.
As you handle more complicated commercial accounts, you’ll need to understand some often-used financial terms. Whether you’re furnishing your commercial insured’s financial data for underwriting or renewal or responding to audit assistance, here are the top financial terms you should know.
There are two distinct marketplaces in today’s insurance arena: the admitted market – those insurers that are admitted to write insurance business in the state or country where the insured’s property or business is located, and the surplus lines market, which writes coverage that the carriers do not file with the state’s department of insurance…
An interesting post on LinkedIn by risk management consultant Jack Schwartz, managing director at Davis + Gilbert Risk Management, caught my attention. The issue, according to Schwartz is that insurers are increasing the number of warranties placed on property policies, whether these are location-specific policies or smaller scheduled locations.
Distracted drivers are not the only danger on the road; a new study indicates that people coping with three different sleep-related ailments — insomnia, sleep apnea, and shift-work disorder — may also have an increased risk of being involved in an automobile accident.
BOP policies are not “all that.” There are some gaps every agent must know and understand before settling on a BOP.
With the availability of the COVID vaccine, many discussions revolve around the legality of an employer requiring a vaccine. If the employer is allowed to require the vaccine, what are the insurance implications if an employee gets ill or even dies as a result of the vaccine? Is there a policy that will respond?
