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for the week of August 6, 2021

Education + Analysis for the Independent Agent

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Special Feature - Commercial General Liability * News & Filings from ISO * Business Income * Homeowners' Insurance * Crime * Miscellaneous & Professional Liability * Insurance Laws & Statutes/Coverage Resources
Including a ‘DBA’ in the Named Insured Might Limit Coverage
Does the breath of coverage depend on the inclusion or exclusion of the assumed business name, the DBA? Well, the answer isn’t as clear as you might think.
ISO's Professional Liability Forms
Effective June 1, 2017, Insurance Services Office (ISO) introduced the new Miscellaneous Professional Liability Policy (MI 00 01) along with a multitude of endorsements. This is the first in a series of insurance programs designed to address the professional liability needs of various risk types. These new forms are housed in Division Sixteen – Professional Liability – Other Than Medical of the ISO Commercial Lines Manual.
I Lost Income Because of _______; Do I Have Coverage?
Business income coverage responds only when certain conditions are met. Simply losing business income is not enough to trigger coverage. This article explores the conditions that must be met using a water contamination incident in Corpus Christi, TX as the backdrop.
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; even some agents believe this. Well, it just isn’t true. Find out why.
Insuring Gift Cards - Personal Lines
Gift cards have become an increasingly popular form of giving for Christmas, birthdays, and many other occasions. Each year, BILLIONS of dollars are spent on gift cards, many of which are never redeemed. If a gift card is lost or stolen, is there any coverage for the lost value under a homeowners policy?
Are You One of ‘Those’ Agents?
I asked underwriters from all over the country to recount some of the strangest, most unusual, or simply irritating situations involving agents. Here are some of their responses.
Mid-Term Cancellations by State
Download this chart that details mid-term cancellations by state.
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