| |  | | | Advantages of Big 'I' Membership * Agency Management * Back to Basics * Commercial General Liability * Homeowners' Insurance * Insurance Laws & Statutes/Coverage Resources |
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| | RLI’s Home Business Policy provides affordable coverage for those people who operate small home-based businesses. Insureds often believe their existing homeowners or apartment-dwellers policy will cover any loss or damage to their business equipment, furniture and supplies in the event of fire, theft or other catastrophe, when in fact, those policies usually explicitly exclude coverage for any business exposures on their premises. The RLI Home Business Policy is targeted for over 140 retail and services risks operated from the insured’s residence and presenting minimal product liability, professional liability and/or off-premises exposures. |
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| | An agent asks: COVID and all the coverage debates swirling around it has raised the question in our agency regarding the use of a disclaimer. Several in the agency think we should develop disclaimer language to, essentially, warn our clients that there may not be any coverage for a COVID-related loss. Can you suggest the best way to word such a disclaimer? |
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| | From IA Magazine, Virtual University faculty share their insight on restrictions of an unlicensed employee when talking with an insured. |
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| | Agency owners often ask, “How long should I keep expired insurance policies?" When we’re talking about liability policies, the new answer may be “forever.” |
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| | Many agents struggle to understand business interruption (BI) insurance, also called business income insurance. This important coverage protects business owners if a covered property loss, or in some cases government shutdown, causes them to close their business and reduces them income. This article covers the basics of BI coverage. |
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| | Lower tier contractors seem to be fighting back on some contractual insurance requirements – even to the point of making improper claims. One in particular is that making another party an additional insured negates the need to waive recovery rights against that party (often referred to as a waiver of subrogation). Well, these risk management mechanisms have different outcomes and only slightly overlap. |
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| | A commercial prospect rents space at a warehouse and his current agent tells him that the fire damage legal liability coverage on his CGL policy covers him there. The prospective agent believes that the CP 00 40 Legal Liability Coverage Form is superior. Who is right…or are both wrong? |
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| | Assaults, slip and falls, gas leaks and other liability issues can wreak havoc on a commercial real estate (CRE) insured’s loss history. With property rates expected to climb again next year due to Hurricane Ian’s impact on the reinsurance marketplace, CRE exposures, especially CAT-exposed properties, will be hit hard with rate hikes, according to many industry analysts. There may be more pressure on CRE liability rates, as well, as claims costs and settlements increase. Assaults, slips and falls, water damage, all these types of incidents can decrease the insurability of CRE risks in this harder insurance market. Additionally, with CRE mergers and acquisitions hitting a record pace, a spotty loss history can hurt the portfolio’s resale value and make it a less attractive acquisition. |
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| | Does having friends over during a state-mandated stay-at-home order create any insurance issues regarding COVID-19? What about when it’s over? These sound like weird questions. As weird as the questions sounds, the answer may be weirder. |
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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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| | Concealed weapon and other gun laws seem to be proliferating around the country. Sooner or later, an insured or prospect is going to ask you if their insurance covers them if they should shoot an alleged burglar or assailant in self-defense. How would you respond to such questions? |
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| | A glossary of workers’ compensation terms. |
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