| |  | | | Special Features * Advantages of Big 'I' Membership * Agency Management * Commercial Lines * Professional Liability * Homeowners' Insurance * Workers' Compensation * Insurance Laws & Statutes/Coverage Resources |
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| | If you incorrectly name your insured on any policy, your insured may find he or she does not have coverage. After a loss is the worst time to learn that fact. The first questions most well-trained adjusters ask as they review a loss is who suffered the loss and is that person or entity listed on the policy. This article will cover a recent court decision and provide insight into how to properly list your insureds on all their policies. |
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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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| | Big 'I' agents enjoy market access to cyber liability from Coalition through Big 'I' Markets. Coalition provides comprehensive insurance coverage and free cyber security tools to protect your client’s business. From sole proprietors to multimillion dollar corporations, Coalition is the cyber market solution you’ve been looking for. Coalition provides world-class technical know-how to help prevent, mitigate, and respond to cyber incidents, and is the first insurance-enabled technology firm built to help businesses before, during and after a cyber incident. |
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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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| | 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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| | 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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| | 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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| | 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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| | 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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| | 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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| | 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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| | 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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| | 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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| | You can download this ACV Rules and Depreciation of Labor State List for easy reference. Note that not every state has common law, statutory law, or DOI reaction regarding depreciation of labor. Only those states that have addressed the issue are indicated in this reference list. |
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