Procedures

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?

This page has evolved from our original Hurricane Katrina Resource Page. Except for a few links to articles available only to IIABA member agencies and paid VU subscribers, all of this content may be used for noncommercial purposes. If you have any questions or suggestions, please email This page has evolved from our original Hurricane…

When automobile claims come in we always talk to the insured about the benefits of self-insuring the loss if they can, but more and more we are seeing lawsuits being filed for claims sometime down the line. If the insured reports the claim to us (the agency) and we note their account, but they decide…

An insured requested that a second location be removed from his policy. He made the request on 09/29/06. The second location was sold 06/24/04 and he requested that it be removed effective 06/24/04, the date he sold the property, with a return of premium. He presented court house records showing that the property had been…

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

Do your employees spend, what seems to you to be, an inordinate amount of time on the internet at work…whether during business hours or their personal time? Ever wonder what they’re doing? Ever wonder about the nature of the emails they send or receive? To control net use (and abuse), you need a formal policy.

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 Time features available today. In this article, noted agency workflow expert Laura Nettles discusses the importance of rethinking agency workflows to incorporate Real Time. Laura…

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 graciously allowed me to share it with you for your review and possible use. This is just another example of the wealth of information shared…

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 more intensely. Reserves will be adjusted and agencies will be targeted for action as carriers try to reserve their shrinking capacity for agencies that have…

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 12-month policy period? In this article, our faculty will discuss the historical significance of this “rule” (as best as we know it), along with some…