Procedures

Oral vs. Written Binders

Unless there is a legal requirement, is there a reason to issue a written binder on an account? We posed this question to the VU faculty and got a mixed bag of responses. What do you think?

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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Lost Policies…No Coverage?

The insured is sued for damages arising out of an occurrence that took place many years ago. The insured is unable to find the policy in force at that time, so the insurer says they won’t respond. What do you do when a policy is lost?

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