| |  | | | Special Feature - Homeowners' Insurance * Contractual Risk Transfer/Additional Insured/Certificates of Insurance * Commercial Property * Personal Auto Issues * Insurance Laws & Statutes/Coverage Resources |
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| | ISO’s first major change to the Homeowners’ program has been filed. These changes are scheduled to take effect beginning March of 2022. Although this sounds like a long time from now, the time will go quickly. Review the coming changes now and print this for future reference. |
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| | Lower tier contractors seem to be fighting back on some contractual insurance requirements – even to the point of making improper claims. One in particular is that making another party an additional insured negates the need to waive recovery rights against that party (often referred to as a waiver of subrogation). Well, these risk management mechanisms have different outcomes and only slightly overlap. |
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| | Do agents owe any duty to a certificate holder? Opinions differ. Given the reality of the COI, its intended purpose, and the parties to the various contracts related to a construction site, agents have very little duty to the certificate holder beyond honesty. |
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| | Contractual risk transfer is often confused with insurance coverage; and certificates of insurance are ALWAYS confused for a document with any real meaning or power. This article focuses on one key fact – the insurance policy rules regardless what the contract says. |
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| | The Agreed Value Option (AVO) is an alternative to coinsurance in the ISO Building and Personal Property Coverage Form (CP 00 10). Agreed Value can be used with buildings or personal property, on either an actual cash value (ACV) or replacement cost (RC) basis. However, many agents are not aware of how this option must be used very carefully. |
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| | Bad decisions cause commercial property clients to pay higher property premiums. Sadly, the insured may not even recognize their poor choices. Worse still, agents can help clients identify their bad decisions with the right information. |
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| | ISO offers over 200 commercial property endorsements. Some of them are not good for the insured, but many allow the insured to provide coverage and protection not found in the unendorsed property policy. There are four you may have never heard of or seen used, but they are incredibly useful in the right situation. |
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| | Now through May 14, you can view this three part webinar series dedicated to the PAP free of charge. |
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| | Regardless what the commercials tell us, personal auto coverage is not one-size-fits-all. Every insured has unique arrangements and exposures. These lead to uneasiness and questions – hopefully. This article attempts to answer three personal auto questions every agent needs to know how to answer. |
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| | Most people, including your clients, are insurance illiterates. Their limited understanding of insurance comes from the commercials they see on TV and the misinformation they “hear on the streets.” Insurance professionals should invest in their client’s kids. Why? Let us count the ways. |
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| | Because agents work in a contract-based industry subject to many legal concepts, understanding specific legal terms is necessary. |
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