| |  | | | Special Feature * Advantages of Big "I" Membership * Workers Compensation * Back to Basics * Personal Lines * Commercial Lines * Insurance Laws & Statutes/Coverage Resources |
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| | How much agency errors and omissions coverage limits are enough? Should I benchmark my limits against other competing agencies? Chris Boggs, as his final hurrah here at the Big I, offers this advice. |
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| | Young agents are the future of the industry. The Big 'I' National Young Agents Committee assists state associations and young agent volunteers in revitalizing and strengthening their young agents programs. Perpetuation, community involvement, and leadership are just a few important areas of focus. |
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| | Why waivers of subrogation are requested is a question that results in blank stares and shoulder shrugs. Risk managers want them because they were in the previous contract their company entered into. Subcontractors further down the food chain request them because somebody else required it as a condition to being awarded the contract. Owners and general contractors insist on them because they feel they are buying protection at some level, perhaps believing it will prevent the employees of subcontractors from suing them for injuries received on the project. Nobody knows why they are required beyond, “We’ve always done it that way.” |
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| | When the work comp policy expires, it is time for the audit. As every agent knows, work comp premium is generally based on payroll; thus, the two most important questions are: 1) what remuneration is included in the audit; and 2) what remuneration is excluded from the audit? Of the two questions, knowing what payroll is excluded from the audit might be the more important information – as this is where most mistakes are made. This article lists the payroll inclusions and exclusions. |
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| | Workers’ compensation, from a coverage standpoint, is the simplest coverage to understand and even explain. However, statutes and common laws serve to complicate the initial simplicity of workers’ compensation and complexity breeds errors. |
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| | The alleged failure to properly offer and procure umbrella coverage on a personal auto policy is a growing source of professional liability claims for large agents. In this article from IA Magazine, read about ways you can mitigate your exposure with basic risk management practices, which can reduce the risk of such claims being successful. |
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| | This article from IA Magazine read about insurance losses related to personal jewelry. Jewelry claims usually fall below the radar for both insurers and agents because the cost of the settlement is small. However, if the jewelry is on a homeowners policy, the impact of the claim can be huge. |
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| | Your clients may be unaware of the flooding risks they face. A free, online assessment tool pioneered by First Watch Foundation may help your policyholders better recognize their flood risks. |
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| | This article from IA Magazine is based on a submission through the Big "I" Virtual University's Ask An Expert service. Read responses from Virtual University faculty for the question "Is providing a replacement cost estimate to lenders an E&O exposure?" |
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| | Our Ask an Expert service offers Big I members insight into today’s risks or other coverage, technology, or agency management issues today’s agents encounter. This article offers insight into an important question we received: If I administer Narcan as a trained or untrained employee in emergency situations as required by the employer, will the employer’s general liability policy respond based on the “Who is an insured" definition and definition of "bodily injury”? |
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| | Insurance Services Office (ISO) recently introduced several changes to its Auto Dealer Coverage Form (CA 00 25) with a November 2020 edition date and a proposed effective date of December 1, 2020. These changes are in response to changes in the business auto program, the general liability program and the dissolution of the garage program. |
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| | ISO’s most recent BAP multistate filing includes 19 NEW endorsements. Effective 11/1/2020, many of these endorsements are the result of Big I’s Technical Affairs Committee and cover gaps that have existed for years. Get to know these endorsements, they can save the insured from major coverage gaps. |
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| | Download this handy PAP Resource list organized by state for easy reference. |
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