| |  | | | Special Features * Advantages of Big 'I' Membership * Commercial Property * Back to Basics * Agency Management * Life & Health * Insurance Laws & Statutes/Coverage Resources |
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| | From E&O Claims Advisor, this article explains two types of inflation - consumer price index inflation and social inflation - and how these may be relevant to your business and E&O insurance. |
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| | In a recent article we wrote on the problems of canine liability, agents asked where they could obtain a standalone canine liability policy. Our guest writer, insurance agent Debbie Turner, describes in this article some of the challenges of finding and evaluating a standalone canine liability policy. |
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| | Invest is a national early education program that teaches students about insurance, financial services and risk management while encouraging them to pursue insurance careers. Invest partners with educators in high schools, community college and workforce development programs to bring its curriculum to life with the help of YOU, our insurance professionals! Learn how you can get involved with an invaluable program to strengthen and grow the future talent of our industry. |
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| | Although May is the National Wildfire Awareness month, June is the month that brings back memories of the two most catastrophic wildfires in Colorado’s history. A hard lesson learned was how poorly coverage was written for many homeowners. |
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| | A mural is a very real insurance exposure. One underwriter reported writing $500,000 coverage on an exterior mural. Just for the mural, NOT the building. Just an “average” mural (painted by a local, unknown artist) can cost the building owner between $10 and $20 per square foot. Meaning that even a relatively small mural (20x20) could cost up to $8,000 to have redone. |
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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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| | Understanding the importance of coinsurance and describing it to your clients is important in both personal and commercial lines coverages. This article will explain what coinsurance is, why insurers rely on it and why, considering escalating property values, it is critical that your insureds understand and embrace this concept. |
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| | Your team at the Big 'I' Virtual University receives hundreds of questions each year from members wanting help with denied claims, coverage and procedural issues, agency management concerns, and more. Here we intend to build a collection of your most frequently asked questions to help you be better informed. Scroll to the bottom of the page to see our running list. |
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| | Each year, the CRO (Chief Risk Officer) Forum, formed in the Netherlands in 2004 to advance risk management practices in the insurance industry, provides an update on emerging risks. Its 2022 report may hold no surprises for seasoned insurance agents, but it’s worth reviewing so that your organization can focus on areas that may impact your clients, and your ability to offer important insurance coverages. |
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| | It’s hard to find and keep great employees. Just when you relax a bit, thinking you’re fully staffed and everyone’s happy, someone gives notice. Or perhaps an applicant you’ve offered to hire ghosts you. Virtually every agency owner we talk to struggles to recruit and retain top talent. Statistics about flight-risk employees are all over the map, from 25% of your workforce looking for new opportunities to much higher predictions. |
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| | Is the future positive for small, traditional agencies? As with most broad looking-into-the-future answers, it depends. It depends on knowledge, commitment, and recognizing reality. For example… |
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| | It may surprise a client to find that the company’s most valuable asset was not insured. This would be especially upsetting for an insured who felt that there was always needed coverage in effect. Property, liability and business income insurance were purchased to eliminate serious losses. What went wrong? Why wasn’t this possible major loss brought to their attention and why wasn’t it insured against? |
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| | Insurance (or assurance), as we understand the concept today, is more than 700 years old. But what events shaped our modern world of insurance? Following are some interesting facts, myths, and legends that helped mold the current insurance world in America. |
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| | Term insurance policies have always been a popular product. The premiums involved seem to make people feel that it is the ideal solution to their insurance needs. The belief is that needed coverage is given at affordable prices. There is little thought given to "initial premiums" versus "future premiums." That is one of the major flaws in this type of insurance. |
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| | Download this useful chart that details liability coverage for trailer-related liability. |
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