| |  | | | Special Feature * Advantages of Big 'I' Membership * Commercial Lines * Professional Liability * Workers' Compensation * Insurance Laws & Statutes/Coverage Resources |
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| | Join some industry titans at the Mid-America Insurance Conference in Kansas City November 6-8, 2022. |
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| | Did you know that Big “I” member agencies enjoy access to powerful tools and discounts on strategic non-insurance partners’ products and services? All members are eligible for Big “I” discounts on agency essentials like DocuSign esignature processing; Caliper personality testing and human resources consulting; sales and service resources including checklists from Rough Notes Advantage-Plus; shipping with UPS, and more. |
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| | While agents often refer their clients to trusted vendors such as glass and restoration companies, this linked article can highlight the dangers vendors may pose. |
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| | True experts worry more about what they don’t know than what they do know, continually looking for ways to fill their knowledge gap. Self-proclaimed experts ignore the breadth of what they don’t know and are satisfied (mainly because they don’t know what they don’t know). Be VERY wary of anyone calling themselves an “expert.” |
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| | About the time you become satisfied with your knowledge level, figuring you know all there is to know, you become a danger to yourself and everyone else. For example, the most dangerous time for any pilot or insurance practitioner is that point when they begin to feel comfortable in themselves and their knowledge. |
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| | One of the most debated commercial lines issues is whether or not a vehicle is an "auto" or "mobile equipment." When you carefully read the policy definitions, it's amazing how many vehicles fit the definition of "mobile equipment," even vehicles licensed and used on public highways. In fact, it's possible that a vehicle could be an "auto" under one set of circumstances and "mobile equipment" under another. In this article, we'll look at an example of this debate. |
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| | Flood insurance is, unusual. A flood policy essentially covers one peril but it is surrounded by many unusual facts and facets that make flood coverage unlike any other. Agents must understand the uniqueness of flood to more effectively present it to clients. |
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| | One of the most misunderstood provisions in the CGL policy is the "your work" exclusion. In this article, we'll take a look at several actual claims and when the exclusion does and doesn't apply in a contracting situation. We'll also take a look at a couple of new ISO endorsements that make this exclusion absolute. |
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| | A missed healthcare diagnosis resulted in a whopping $111 million verdict in Minnesota, according to a recent Burns & Wilcox article. Read on to learn more. |
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| | It's relatively easy to convince a prospect they need CGL coverage. However, it may be difficult to convince them that they may need other forms of liability insurance such as Directors & Officers, Errors & Omissions, Employment Practices Liability, etc. The problem often involves a lack of understanding between the differences in these coverages and the exposures that trigger them. |
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| | From IA Magazine...As the light at the end of the COVID-19 tunnel gets brighter, the effects of the past 18 months on the professional liability market are becoming clearer. |
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| | Replacement cost estimators are a tool in the property underwriting process, but they are not intended to be exact. They are an organized guess based on data that changes, at times very quickly. Agents writing either commercial property or homeowners’ coverage would do well to reivew this content. |
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| | Underinsurance is still a problem. According to CoreLogic approximately 60 percent of homes are underinsured by 20 percent on average. Obviously, this leads to devastating results for the insured, and possibly the agent from an E&O perspective. We know this in the industry, but now the NY Times is reporting it – and they are making serious charges. |
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| | A concept as common as the application of a “property deductible” is rarely taught or even considered, it is simply “understood.” The problem is we tend towards the belief that everyone “understands” the application of a property deductible the same way. They don’t. |
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| | From IA Magazine, this article answers the question: Is the workers comp market the darling of the property-casualty insurance industry right now? |
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| | Agents very rarely experience an employers’ liability claim; but this does not mean this important gap-filling coverage should not be understood. There are employee-related gaps in the commercial general liability (CGL) policy and the workers’ compensation (WC) policy that make this coverage a necessity. This primer allows a much clearer understanding of this important yet neglected coverage. |
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| | What makes an illness an “occupational illness” and compensable under workers’ compensation? More specifically, how does workers’ compensation respond to the latest viral panic, the Coronavirus? |
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| | You can download this Valued Policy State list for easy reference. |
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