| |  | | | Special Feature * Advantages of Big "I" Membership * Personal Lines * Back to Basics * Workers Compensation * Agency Management * Insurance Laws & Statutes/Coverage Resources |
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| | We keep hearing how ChatGPT is going to revolutionize the written word, putting millions of copywriters out of business and creating a plagiarism nightmare for the educational system. However, how strong is ChatGPT when answering specific coverage questions? Randy Maniloff has some answers, and here’s a sneak peek – Don’t fire your insurance copywriters any time soon. If you do, you may face an errors and omissions claims arising from coverage description and other mistakes in your website or social media content. |
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| | Do you want to prioritize diversity, equity, and inclusion for your agency, but aren't sure where to start? The Big "I" Diversity Council is pleased to release a training series for independent agency leaders. The Inclusive Agency Training series includes four-parts that will provide foundational knowledge to better support diversity, equity, and inclusion across an agency force. Participation is not limited to leaders - anyone within a team can complete the training. Sessions are go-at-your-own-pace, a downloadable PDF workbook is available to create your plan of action, and there are opportunities to earn extra credit through recommended readings and videos. This series is free for all Big "I" member agency staff. Register today! |
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| | Commercial insurers have increasingly incorporated provisions into their coverage forms and/or endorsements that can create significant coverage gaps when property is insured on a blanket basis. The use of a margin clause places a cap on how much an Agreed Value option will pay on a blanket policy. In addition, a margin clause also functions with coinsurance, where applicable. This article explains the danger with real life, tangible examples. |
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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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| | 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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| | Read any insurance trade journal, and you’ll see articles about how agents can “lead with workers compensation insurance.” Savvy insurance agents can increase their business by targeting employers with considerable workers compensation exposures. Often after the sale of the work comp policy, agents don’t stay as involved as they do on other lines of coverage. If you have considered leading with workers compensation coverage, the first step is to ensure you understand the coverage the work comp policy provides. This article highlights the basic coverages under the workers compensation and employers liability policy. |
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| | Classifying a worker as either an “employee” or “independent contractor” is problematic for more than just workers’ compensation. In an attempt to minimize the problems and confusion, the Department of Labor has proposed the codification of five tests to help in classifying a particular worker as an employee or independent contractor. Although not necessarily developed for the insurance industry, these tests can be used for workers’ compensation clients. |
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| | Workers' compensation is regulated at the state level. Although there are some benefits to this, there are also problems created. |
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| | Once the mystery is removed from the experience mod worksheet, development of the lowest possible experience mod is quite easy. This article shows how to develop the lowest possible mod while at the same time highlighting the fact that achieving this mod may not have the intended result. |
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| | Many agency problems arise over claims. The agent’s duty to report claims to the carrier can be one area that can generate many different scenarios and opinions. Failure to timely report a claim to the insurer can generate an errors and omissions claim or can damage your relationship with your insurer. Recommending your insured report a claim can cause their policy to non-renew due to frequency or other issues such as maintenance concerns. What’s an agent to do? Here are some top tips for the dos and don’ts of claims reporting. |
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| | According to Insurance Thought Leadership, it costs a business seven-to-nine times more to acquire a new customer than to retain a current client. So why aren’t today’s agents focusing more on cross-selling? This article examines ways to cross sell, with a thorough list of cross-sell coverage opportunities. |
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| | Employees are your greatest expense, but they are also your most valuable asset. The loss of great or even just a “good” employee has a tremendous effect on the agency. How do you manage employees according to their style while giving them a sense of place and accomplishment? Follow these rules of management success. |
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| | Download this state-by-state list of dog owner liability rules for easy reference. |
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