| |  | | | Special Feature * Advantages of Big 'I' Membership * Commercial Lines * Back to Basics * Personal Lines * Checklists, Charts & White Papgers * Insurance Laws & Statutes/Coverage Resources |
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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 Big “I" Professional Liability program has created a free “Sample Agency Procedures Manual"--a template designed for both personal and commercial lines agency workflow. It is critical that if you implement this manual, you customize it to your agency's procedures—and that once customized and implemented, you follow it. Failure to follow your written procedures and to update the manual when procedures change can result in a client alleging an E&O claim against your agency. Member login required. |
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| | In this article from IA Magazine, review responses to a question that was answered through the Big "I" Virtual University Ask An Expert service. |
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| | Do you know how to code and rate commercial lines accounts? Do you understand the difference between coding, rating, and coverage? If not or you’re not sure, then take a few minutes to read this article and, if warranted, respond to our inquiry at the end of the article. |
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| | Non-BOP business income coverage is written on a coinsurance basis; however, some agents are afraid of coinsurance for a couple reason: 1) they don’t know how to develop the proper coinsurance percentage; and 2) they don’t want to explain the CP 15 15 Business Income Report and Worksheet. Well, there are three alternatives to coinsurance agents can use. One doesn’t save the agent from having to explain the worksheet, and two may not indemnify the insured – but agents do have alternatives. All three are touched on in this article. |
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| | Helping your clients manage their workers’ compensation program is easier if you can explain one of the most important concepts in an industrial injury or illness. The term “maximum medical improvement” (MMI) defines that concept. Your adjusters use that phrase or abbreviation frequently, and understanding its importance in the injury process can help your clients better understand why a workers’ compensation injury remains unresolved. |
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| | The client calls and tells you they have sold or traded in their car. Do you delete coverage that day? Be careful. What about if the insureds have sold their home? When is it proper to delete coverage? |
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| | For the personal auto insurance industry, food delivery is a big exposure. And because so many teenagers and even young adults deliver food as a primary or secondary source of income, agents are regularly asked if the PAP covers food delivery. Does the PAP extend coverage for food delivery? Well, maybe! Like so many other insurance coverage questions, the answer depends on the coverage language of the individual policy and the specifics of the activity. |
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| | 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. |
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| | Take a look at this spreadsheet to determine how your state handles mid-term cancellations. |
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| | This article from the Insurance Information Institute includes facts about homeowners and renters insurance over the past five years. |
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| | Download this document for information on liability coverage for trailer-related liability: primary and excess protection. |
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| | Because agents work in a contract-based industry subject to many legal concepts, understanding specific legal terms is necessary. |
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