Property Deductibles: Subtracted from the Limit or the Loss
A concept as common as the application of a “property deductible” is rarely taught or even considered, it is simply “understood.” The problem is we tend towards the belief that…
Personal Lines
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;…
Telematics: Big Brother in the Flesh
Usage-based-insurance, UBI or telematics is here, though not yet widespread. However, eventually carriers will find a way to make telematics part of every driver’s life. Are there any up or…
Meth Labs, Explosions, and Homeowners’ Insurance
A house exploded in Charlotte, NC. Rumors of a meth lab began to swirl leading to an analysis of the HO policy to answer the question, does the insurance carrier…
A Real-World Insurance Learning Laboratory
Although May is the National Wildfire Awareness month, June is the month that brings back memories for me of the two most catastrophic wildfires in Colorado’s history (based on insured…
3 Underutilized Homeowners’ Endorsements
In the “HO-2000 world,” ISO has promulgated over 145 homeowners’ endorsements. Some of these endorsements take protection away (we want to stay away from those), some apply to specific exposures…
5 Key PAP Eligibility Questions
When writing a PAP, the “risk” must meet specific eligibility guidelines. Five of these eligibility guidelines are discussed in this article.
Kids at College: Does ISO’s Age Limitation Really Apply?
Based on the dictionary meaning of “resident,” is there really an age limitation on kids away at college? Paragraph 5.a.(1) states that an insured is a relative who is a…
Vacation Coverage – Or the Lack of Coverage: A Far-Out Tale of an Eventful Vacation
What coverage does your insured have when they travel for vacation? More importantly, what coverage don’t they have? Although there is worldwide protection for the insured’s stuff, what are the…
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…
