| |  | | | Business Income * Homeowners' Insurance * Miscellaneous & Professional Liability * Insurance Laws & Statutes/Coverage Resources |
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| | Business Income is the most important property coverage. The problem is, some agents only do half the job when protecting the insured’s income loss exposure. There are two loss periods the business income policy needs to cover. |
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| | Is the phrase, “…direct physical loss of or damage to…” ambiguous? Plaintiff attorneys are trying to convince courts that it is. Simply, it’s not, and this article explains why. |
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| | Non-BOP business income coverage is written on a coinsurance basis; however, some agents are afraid of coinsurance for a couple reason: 1) they don’t know how to develop the proper coinsurance percentage; and 2) they don’t want to explain the CP 15 15 Business Income Report and Worksheet. Well, there are three alternatives to coinsurance agents can use. One doesn’t save the agent from having to explain the worksheet, and two may not indemnify the insured – but agents do have alternatives. All three are touched on in this article. |
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| | More than one-third of homeowners’ insurance liability claims are attributable to dog bites according to a 2016 Insurance Information Institute (III) report. III reported that the average cost of a dog-bite claim in 2015 was $37,214 - a 94 percent increase since 2003. |
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| | Charts are probably the most helpful resource for keeping track of key Homeowners’ policy provisions. Being able to see key information in one, easy-to-read form aids in memory and retention; besides, it allows easy recall because the charts can be printed for easy reference. ISO’s release of its 2022 multi-state homeowners’ filing requires two different charts based on the edition date of the policy form being used. |
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| | 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. |
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| | Recently I’ve noticed insurance practitioners doing a LOT of cussing. No, I don’t mean using the traditional words that got us in trouble as kids; I am referring to insurance cussing. Yes, there are certain words and phrases used by many insurance practitioners that should not be used in polite company, mainly because they are just plain inappropriate and DIRTY. |
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| | 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. |
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| | I asked agents from all over the country to recount some of the strangest, most unusual, or simply irritating situations involving underwriters. Here are some of their responses. |
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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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