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for the week of July 28, 2023

Education + Analysis for the Independent Agent

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Special Feature * Advantages of Big 'I' Membership * Commercial Lines * Back to Basics * Personal Lines * Agency Management * Insurance Laws & Statutes/Coverage Resources
ISO Updates Forms to Exclude Coverage for Perfluoroalkyl And Polyfluoroalkyl Substances (PFAS)
Perfluoroalkyl Substances (PFAS) are a hot topic with Insurance Services Office rolling out forms to exclude coverage for PFAS. This article will provide what we know to date on this important topic.
ABEN is the Big "I" VU Provider for CE
The Agents & Brokers Education Network (ABEN) is a partnership between Big "I" state associations across the country offering professional insurance training and continuing education using premier, live webcast technology. ABEN's catalog has dozens of courses from some of the best presenters in the insurance industry, covering a wide range of relevant topics. Their webcasts offer high quality CE training in your location and on your schedule at a fraction of the cost associated with attending an on-site course.
What is a Hard/Soft Insurance Market?
Most of us understand that a hard market is an effort for insurance companies to return to profitability. Higher premiums and elimination of policyholders that have had high losses is the obvious actions underway but these steps are only part of of the actions underway.
ISO's Professional Liability Forms
Effective June 1, 2017, Insurance Services Office (ISO) introduced the new Miscellaneous Professional Liability Policy (MI 00 01) along with a multitude of endorsements. This is the first in a series of insurance programs designed to address the professional liability needs of various risk types. These new forms are housed in Division Sixteen – Professional Liability – Other Than Medical of the ISO Commercial Lines Manual.
Nuclear Verdict in Healthcare Will Raise Concerns for Healthcare Insurers
A missed healthcare diagnosis resulted in a whopping $111 million verdict in Minnesota, according to a recent Burns & Wilcox article. Read on to learn more.
How Does a ‘Person’ Become Legally Liable
Liability policies, whether the HO, PAP or CGL, respond when the insured is judged to be “legally liable” for the injury or damage. But how is “legal liability” determined? That is the question answered in this short article.
Homeowners' Quiz
Test your knowledge of Homeowners' using this 17-question quiz.
5 Key PAP Eligibility Questions
When writing a PAP, the “risk” must meet specific eligibility guidelines. Five of these eligibility guidelines are discussed in this article.
Understanding the Unique Facets of Flood Insurance: Flood Zones
Flood insurance is, unusual. A flood policy essentially covers one peril but is surrounded by many unusual facts and facets that make flood coverage unlike any other. Agents must understand the uniqueness of flood to more effectively present it to clients. This series on flood insurance is divided into seven parts; following is part 1. Links to each part in the series are provided at the end of the articles.
Certificates of Insurance: The Good, the Bad, and the Ugly!
The proper issuance of certificates of insurance is a common problem facing agents, whether they’ve been in the business for decades or they’re just entering the industry. This article provides solid, practical recommendations for the proper issuance of certificates from a highly experienced insurance consultant.
Read the Policy You’re Selling
This may be the most important coverage article you read this year. It may be the most important coverage article you’ve ever read. Please read it. And please have your colleagues read it. If you work in an agency, send a link to the article to your underwriters, marketing reps, and claims people. RTFA…Read The Article!
E&O and the Hard Market
Errors and omissions are something we should all focus on all the time. However, in a hard market, E&O claims have a tendency to rise in both frequency and severity due to increased workloads, reduced coverages, and other factors. Below are some special considerations that merit increased attention in a hard market.
Legal Terms Every Agent Should Know
Because agents work in a contract-based industry subject to many legal concepts, understanding specific legal terms is necessary.
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