| |  | | | Lead. Educate. Tech. Get all three FREE during the October 19-22, 2020 Big "I" Let's Do This Virtual Summit brought to you by the Big "I" Agent Development team. |
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| | During the pandemic panic, one of the most common question received by the VU was, “Does the Business Income policy cover government-mandated shutdowns?" The answer then and the answer now is, no, the business income policy was not designed to cover these types of situations. That’s the short answer, but you probably need the longer answer included in this article. |
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| | How is the actual loss of business income deciphered? Both ISO-promulgated business income policies (CP 00 30 and CP 00 32) provide guidance on how the actual loss of business income is calculated. |
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| | This question was posted to our "Ask an Expert" service from a Big "I" member: "What is the business Income exposure for a nonprofit organization? We understand the extra expense component but are having trouble with the business income part." Keep reading to learn that business income is often a LOT more than just lost profit. |
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| | Not to be overly dramatic, but ordinance or law is a very real personal lines exposure - often overlooked during the personal lines risk management and insurance planning process. Agents must explain the exposure, the coverage limits and the options. This article lays out the coverage, the problems and the options. |
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| | 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 owe anything if damage was the result of a meth lab? |
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| | Once again, we find ourselves in the deeply political and emotional debate about guns, the second amendment, gun control, and safety. This discussion requires us to clear up some misconceptions about guns, insurance, and the place of the insurance industry. We may even have to deal with some misinformation. |
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| | Your insured’s car is stolen. Since he only carried liability coverage, he wants to simply cancel the policy and get a return premium? At what point does his potential liability end for this vehicle so that he can cancel the policy? |
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| | A father’s nonresident daughter borrowed his camper trailer to be hauled by her SUV. Dad hooked the vehicles up. While the trailer was being towed, it somehow became uncoupled, and the tongue of the trailer rammed the rear of the daughter’s SUV, causing several thousand dollars damage. Dad thinks this is his fault and wants his PAP to pay. Will it? |
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| | Here’s your one-stop-shop for Liability Coverage for Trailer-Related Liability: Primary and Excess Protection. |
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| | The “heart” of networking is rooted in selfishness. There are serious problems with this single path to success. Of course, we do need relationships with others; but how can we cultivate those relationships and bypass all the ineffective networking garbage? |
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| | Following a horrific natural disaster, agents must plan on receiving calls from angry insureds. Knowing the angry calls are coming is the first step toward managing them. Storm victims need to feel some level of control to move through and past the “inventory” / “reaction” stage. Knowledge allows a feeling of control. Provide clients as much information as possible – even if it’s news they may not want to hear. Storm victims follow a known pattern of recovery, know the pattern. |
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| | When can an insurance carrier cancel a policy during the middle of the policy term? Everyone knows and can easily explain cancellation for non-payment, but that’s not the issue. The real problems and misunderstandings seem to flow from the concept of a “change” in risk. How much “change” must there be before the insurance carrier can cancel a policy during the term? |
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| | Every state and the District of Columbia grants insurance carriers an “underwriting period.” Insurance carriers are granted broad authority to cancel a newly-written policy during this statutorily-limited period. |
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