| |  | | | Advantages of Big 'I' Membership * Agency Management * Back to Basics * Commercial Property * Businessowners Policy * Insurance Laws & Statutes/Coverage Resources |
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| | Trusted Choice® is the national marketing brand created exclusively for Big “I” members to help consumers understand the value an independent agent offers. Differentiate your agency from the competition when you leverage our reach, expertise and savvy to increase your business. Need help creating an advertising campaign, looking for content for your social media channels, or want to see how you can optimize your website and improve your customers experience? Trusted Choice offers multiple free resources, tools, training and financial support for utilizing cobranded marketing materials. |
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| | Increasingly inclement weather, civil disobedience, electrical grid failures – all these problems can create a nightmare for insurance agents. Not only will these events impact your clients, but your agency’s staff and its agency management system may be unable to handle the flood of incoming calls and email requests for assistance. Every agency needs a disaster plan, and the Big 'I' offers plenty of resources. |
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| | Most agency errors & omissions claims have some commonality. This article presents a few examples you can use to prevent a potential claim against your agency when managing client signatures. |
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| | Correctly naming your insured is only one issue that can get you sued. Our author highlights some key areas of concern for agents to prevent an errors and omissions claim. |
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| | The businessowners policy (BOP) is one of the most widely used commercial insurance policies designed to protect small-to-medium sized business owners. While the Insurance Services Office ISO form is readily available, many insurers develop their own BOPs, tailored to different types of businesses, from main street florists to restaurants to contracting businesses. If you’re just starting out in commercial lines, beginning with the BOP is a great way to grow your business. |
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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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| | A mural is a very real insurance exposure, and a very popular addition to many both public and private commercial buildings and residences. 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 $50 per square foot. This means that even a relatively small mural (20x20) could cost up to $20,000 to redo. Is your insured's coverage adequate? |
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| | The concept of actual cash value (ACV) is far more complicated than “replacement cost minus physical depreciation.” In fact, the meaning of replacement cost differs based on the state. To further complicate the “problem” with defining ACV is whether or not labor is depreciable. Again, the answer differs based on the state in which the property is located. |
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| | As part of the most significant update to the ISO Businessowners program since its inception, ISO is introducing nearly 60 new, optional endorsements, revisions to dozens more, and updates to the base form. Get ready, these enhancements will be filed in the first quarter of 2022. |
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| | ISO introduced five new cannabis exclusions for use with the BOP policy. Two of the five are essentially “absolute” exclusions and three have a hemp exception. This article introduces and explains these new endorsements. |
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| | The ISO Commercial Property form, CP 00 10, requires that buildings and structures be described in order for coverage to attach. However, ISO’s Business Owner’s Policy only requires that the premises be described. So, as long as the “building” limit is adequate, that limit applies to all structures on the premises. However, that makes it critical that all structures and their values be considered in determining limits. |
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| | Generally, an insurer's duty to defend flows from the facts alleged in the lawsuit. When the pleadings alleged damage or injury that is covered by the policy, the insurance carrier has a duty to defend, regardless of whether the insured is ultimately liable and/or the insurer has a duty to indemnify. Read more about this and download this Duty to Defend: What the Courts Say list organized by state for easy reference. |
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