| |  | | | Advantages of Big 'I' Membership * Agency Management * Back to Basics * Commercial Property * Businessowners Policy * Insurance Laws & Statutes/Coverage Resources |
|
| | |
| | The Big “I" Professional Liability program has created a free “Commercial Producer Onboarding Guide," a self-paced learning resource that provides an overview and learning path through 13 core prerecorded “Lightning Learning" risk management webinars. These webinars are essential tools for both new and seasoned commercial producers. The guide highlights typical commercial lines exposures that can create agency E&O claims and provides learning tools to avoid or minimize risk. Member login required. |
|
| | |
| | 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. |
|
| | |
| | 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. |
|
| | |
| | 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. |
|
| | |
| | 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. |
|
| | |
| | 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. |
|
| | |
| | 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. |
|
| | |
| | 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? |
|
| | |
| | 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. |
|
| | |
| | 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. |
|
| | |
| | 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. |
|
| | |
| | Download this useful chart that details liability coverage for trailer-related liability. |
|
| | |
|
|
| |
Item Audit Detail /_layouts/15/images/GORTL.GIF /vu/newsletter/_layouts/15/AuditingLog/ItemAudit.aspx?ItemId={ItemId}&ListId={ListId} 0x0 0x40000000 ContentType 0x01 300 Compliance Details javascript:if (typeof CalloutManager !== 'undefined' && Boolean(CalloutManager) && Boolean(CalloutManager.closeAll)) CalloutManager.closeAll(); commonShowModalDialog('{SiteUrl}'+
'/_layouts/15/itemexpiration.aspx'
+'?ID={ItemId}&List={ListId}', 'center:1;dialogHeight:500px;dialogWidth:500px;resizable:yes;status:no;location:no;menubar:no;help:no', function GotoPageAfterClose(pageid){if(pageid == 'hold') {STSNavigate(unescape(decodeURI('{SiteUrl}'))+
'/_layouts/15/hold.aspx'
+'?ID={ItemId}&List={ListId}'); return false;} if(pageid == 'audit') {STSNavigate(unescape(decodeURI('{SiteUrl}'))+
'/_layouts/15/Reporting.aspx'
+'?Category=Auditing&backtype=item&ID={ItemId}&List={ListId}'); return false;} if(pageid == 'config') {STSNavigate(unescape(decodeURI('{SiteUrl}'))+
'/_layouts/15/expirationconfig.aspx'
+'?ID={ItemId}&List={ListId}'); return false;}}, null); 0x0 0x1 ContentType 0x01 898 Document Set Version History /_layouts/15/images/versions.gif?rev=40 javascript:SP.UI.ModalDialog.ShowPopupDialog('{SiteUrl}'+
'/_layouts/15/DocSetVersions.aspx'
+ '?List={ListId}&ID={ItemId}') 0x0 0x0 ContentType 0x0120D520 330 Send To other location /_layouts/15/images/sendOtherLoc.gif?rev=40 javascript:GoToPage('{SiteUrl}' +
'/_layouts/15/docsetsend.aspx'
+ '?List={ListId}&ID={ItemId}') 0x0 0x0 ContentType 0x0120D520 350
|
|