VU Resources

Cleaning Up Loss Ratio Problems

Throughout the soft market, rates dropped and companies endured increasing losses as the price to pay for cash flow and market share. Now carriers are reacting to loss ratios much…

Why Are Binders Issued for 30 Days?

We all know that binders have historically been issued for 30-day terms. Why is that and can a binder be issued for longer terms, perhaps even as long as the…

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Showdown: ACORD 27 vs. ACORD 75

When proof of insurance is requested, which is most appropriate, the ACORD 27 – Evidence of Property Insurance or the ACORD 75 – Insurance Binder?

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Issuing Binders Without Closing Dates

An agency has had several requests from mortgage brokers and lawyers asking for binders showing the new mortgagee without having set closing dates on new loans. They insist that the…

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Correcting CLUE Report Errors

CLUE reports, like MVRs, have become a staple of most personal lines underwriters. However, what happens when someone discovers an error on a CLUE report? What are the ramifications for…

Agency Underwriting…Establishing a Minimum Limits Policy

Quite a few agencies now practice agency underwriting by establishing minimum limits that they will write for auto, CGL, etc. There are definitely advantages to doing this and, in general,…

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Binding Authority Weather Restrictions

Your agency/company contract has been amended as follows: “The Agency shall have no authority on behalf of the Company to provide new coverage or increase existing coverage when the National…

Real-Time Workflow

Do you want to provide superior customer service to your clients?  Do you want to improve productivity?  These are proven results that you too can achieve by implementing the Real…

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Sample Office Technology Policy

Some folks from the CIRMS group discussed below presented a paper at a recent seminar on Telework Risks and Liabilities. Within that paper was a sample Office Technology Policy. They have…

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