COMMERCIAL LINES
CGL Additional Insured and Insured Status Endorsement ChangesIn its most recent multistate endorsement revision filing ISO made a minor change to 25 additional insured endorsements; brought two additional insured endorsements up-to-date and in alignment with most the construction-related additional insured endorsements; added three new non-construction AI endorsement triggered by the presence of a contractual requirement for AI status, and addressed the old problem of newly acquired or created LLCs.
PERSONAL LINES
Condos, Binders and "Walls In" CoverageThe VU "Ask an Expert" service has been made aware of a number of requests from the lenders of condo unit owners who want to be named as mortgagees on the association master policy. In addition, they are demanding that the binder specifically state "Walls In" coverage is provided.
AGENCY MANAGEMENT
Insurance Premiums Versus the Total Cost of RiskSix "costs" in addition to the premium combine to develop the insured's true total cost of risk: 1) Deductibles or Self-Insured Retentions; 2) The cost of uninsured or self-insured losses (intentional or unintentional); 3) Legal costs; 4) Loss control and safety costs; 5) Claims management costs; and 6) Opportunity costs. Do your clients understand these costs? READ, BOOKMARK AND SHARE  Legal Terms Every Agent Should Know
Agents are NOT lawyers and should never pretend to be. However, every agent must deal with legal terms and concepts almost daily. Because agents work in a contract-based industry subject to many legal concepts, understanding specific legal terms is necessary.
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2019 BEST PRACTICES STUDY
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RISK AND REALITY REPORTS Risk & Reality Reports are easy to read e-books that explain complex insurance issues simply, with topics ranging from certificates of insurance, commercial general liability, condominiums and more. VIEW TOPICS
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