| |  | | | Special Features * Advantages of Big 'I' Membership * Just For Fun * Commercial General Liability * Commercial Property * Agency Management * Homeowners' Insurance * Insurance Laws & Statutes/Coverage Resources |
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| | Agency personnel have typically taken one of three approaches to agency claims handling - a hands-off approach – “It’s between you and the insurer”; an overly involved approach, focused on obtaining coverage no matter what; or a balanced, collegial approach where everyone wins. This article will focus on the last approach. Building relationships with adjusters and taking a consultative approach to client management can allow you to help your clients settle their claims and keep business on your books. |
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| | Does the personal auto policy extend coverage for a STD supposedly contracted in an insured auto? Well, “disease” is within the definition of bodily injury and there is no specific exclusion – so don’t laugh. |
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| | Having trouble deciding which retirement plan is right for you or your agency? Big "I" Retirement Services is here to help you choose which plan best meets your circumstances. We've worked with more than 1,000 agencies to help them achieve their retirement goals. With over 25 years in the retirement business, the Big "I" serves as a strong advocate for participating agencies. Whether it concerns a complicated transition from another provider, or perhaps a sale of the agency, we know your business, understand your market, and can grasp your needs. |
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| | Test your knowledge of the CGL and BAP with this short 10-question quiz. |
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| | Construction risks are becoming harder to place and premiums continue to increase. With the construction market expected to increase by about 9% in 2022, now is an opportune time to increase your expertise and client base in construction and artisan and contractors risks. This article outlines the current state of the market, including some tips on collaborating with wholesalers to place those hard-to-place contractor risks. |
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| | Nearly 40% of ISO’s general liability class codes are, what some call, “dagger” codes. All a “dagger” classification does is rearrange where the products and/or completed operations coverage is found. |
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| | Proprietary coverage forms are not always better than Insurance Services Office (ISO) forms. Careful comparison is required to confirm the insured is not harmed by non-ISO language. A recent Illinois district court ruling highlights an incidence where ISO’s Personal and Advertising Injury wording may be broader and better for the insured. |
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| | Property underwriters analyze essentially the same information today as was reviewed 400 years ago. Although technology has changed, the basics of property underwriting has not changed. The four primary factors in property underwriting are Construction, Occupancy, Protection and Exposures (COPE). This article provides a brief overview of one piece of this puzzle – Protection. |
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| | Work patterns since COVID-19 sent millions of workers home had a big impact on the commercial real estate market. And although JP Morgan predicts commercial real estate will come “bouncing back” in 2022, it’s a great time to remind your clients of the need to understand their commercial property policies’ vacancy clauses. |
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| | Within the wording of the commercial property policy’s replacement cost provision there is a 180 day “limitation.” How does this supposed limitation actually apply and to whom does it apply? For whatever reason, some insurance carriers routinely use this supposed limitation incorrectly. |
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| | An agent asks: Can our agency cancel or non-renew a nightmare client? |
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| | Upset customers can be unnerving. But with the right attitude and techniques, many of these people can be turned into satisfied, loyal customers. It's not always easy, but it's worth it. In this article, I'll present 14 tips that you can use to calm upset customers...half deal with general principles and half target specific behaviors and responses that you can learn and control. |
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| | The qualified lead ratio tells the agency if their database of leads is beneficial or wholly useless by answering the question, what percentage of leads in its database are good leads and which ones are just names taking up memory space? In simplest terms, the qualified lead ratio tells an agency how beneficial its prospect database really is to the producers and the agency. With this ratio it is not hyperbole to say the agency can predict its future success. |
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| | With hurricane season a concern and unpredictable weather on the rise, homeowners’ losses can be devastating. After your insureds submit a claim, the insurer will request they document their damaged contents. Remind your insureds that homeowners’ claims are always much easier to settle if they prepare a home inventory before they experience a loss. Now is a perfect time to remind your insureds to create a home inventory. With today’s sophisticated cell phone cameras, it may be as simple as walking through the house and videoing contents with accompanying verbal descriptions. There are many online tools available, as well. |
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| | What happens if an insured’s tree falls and damages property or injures someone on a neighbor’s premises? If the occurrence is caused by an “Act of God,” is the insured off the hook? This may not be as simple a question as you think and many factors can come into play. |
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| | Vacant land presents two problems. First, most people find it hard to believe that they could be sued because they own a piece of vacant land. Second, the characteristics that make a piece of land “vacant” are not universally agreed upon, and thus are unpredictable. |
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| | Eliot Spitzer, former New York Attorney General, sued Marsh & McLennan Cos. on October 14, 2004, for supposed bid rigging and other misdeeds and misinformation. This suit led to laws requiring insurance agents and brokers to disclose who they represent (the carrier or the insured), the sources of income, and sometimes the amount of income. Fifteen states currently have commission disclosure laws on the books possibly as an indirect result of Spitzer’s suit. |
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