| |  | | | Special Feature * Advantages of Big 'I' Membership * Agency Management * Back to Basics * Personal Lines * Commercial Lines * Insurance Laws & Statutes/Coverage Resources |
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| | 2023 was undoubtedly the most challenging year most independent insurance agents have experienced in their careers. It will certainly be one of the costliest to insurers, and this and uncertainty about the future given climate and social and other inflation seems to drive rates. According to Swiss Re, the cost of natural disasters worldwide broke several loss records. Does your agency have a plan of action in place that can help guide you as you navigate this difficult market? |
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| | Big “I” Markets, featuring Big “I” Eagle Agency, connects member agents with top tier insurance markets. More than 10,000 Big “I” member agencies nationwide have looked to Big “I” Markets to access our affluent homeowner and personal package programs, hundreds of bonds, commercial auto, commercial package policies, community bank package, cyber liability, flood insurance, habitational program, non-standard homeowner, real estate agents E&O, and more. |
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| | 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. RTA…Read The Article! |
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| | Ask an Expert questions and answers provide strong resources to our agents. We receive many excellent questions regarding certificates of insurance – their issuance, the contracts that may be attached, the wording, and more. Read on to see the question and answer on this interest certificate question |
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| | Almost two years ago, the author authored the article “An Agent Call to Action: Underinsurance” which appeared in this publication as well as a couple of other blogs. Essentially, he was reacting to the evolving underinsurance nightmare confronting the homeowners who lost their homes in the Marshall Fire near Boulder, Colorado. As time passes, there is growing evidence that the issue of underinsurance is far from resolved and may be getting worse. Why? This article explores the many facets of underinsurance that front-line P&C agents and their company partners need to creatively address in both personal and commercial lines in the New Year. |
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| | You may hear the term “vicarious liability” arise when talking to claims adjusters or an underwriter who may have concerns about the extent of potential liability faced by one of your current or potential insureds. This article explores the concept of vicarious liability to help you understand the liability challenges underwriters and adjusters consider when deciding on application acceptances or when adjusting claims. |
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| | The PAP defines "collision" to involve impact of an insured auto with another auto or object. Comprehensive, or "other than collision" (OTC) coverage applies to contact with a bird or animal. So, if you hit a pedestrian, is it a comprehensive or a collision loss? |
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| | Based on the dictionary meaning of “resident," is there really an age limitation on kids away at college? Paragraph 5.a.(1) states that an insured is a relative who is a resident of your household. Paragraph 5.b.(1) states that a student who WAS a resident before MOVING OUT to attend school is an "insured." It does not appear an age limitation really applies if residency existed and the adult child never changed residency. |
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| | Insurance (or assurance), as we understand the concept today, is more than 700 years old. But what events shaped our modern world of insurance? Following are some interesting facts, myths, and legends that helped mold the current insurance world in America. |
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| | Agents and insureds often think employee dishonesty coverage on a BOP is the same as coverage provide by Commercial Crime policies or forms. Unfortunately, that’s not the case. This article provides a real-life example of where more is less. |
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| | James Moore, workers compensation expert and founder of Cutcompcosts.com, recently wrote updated the industry about what he’s seeing on claims loss run reviews. Agents who perform regular loss run reviews with their workers compensation clients add value that not all agents can. Here are the trends. |
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| | Here’s a great example of why the majority of your large and small contractors need pollution coverage. The Rhode Island Supreme Court decision found in favor of the insured, but most states do not agree with this position according to attorney Randy Maniloff. This decision is just another reason to contact your contractors and recommend they consider a quote for pollution liability or review their policy limits. |
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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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