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 binder and not an Evidence of Property Insurance form be provided before they will set a closing date. Do they have an insurable interest in…
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 declining an account based on inaccurate information and what can the consumer do to get the problem corrected?
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, it’s a great idea. However, there can also be pitfalls that agents should be wary of….
Recently, our “Ask an Expert” service received a simple, one-sentence question: “How do you get your submissions noticed by an underwriter?” In this article, we’ll give you some tips from our expert faculty, underwriters, and fellow agents on how to submit an account that floats rather than sinks.
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 Weather Service has issued a tornado warning, tropical storm watch or warning or hurricane watch or warning for an area within a 200 mile radius…
April 14, 2004, that’s the compliance date for the HIPAA Privacy Rule for small health plans. A small health plan is defined as a plan that spends less than $5,000,000 in premium annually if fully insured, or pay less than $5,000,000 in claims annually if self-insured. Are you in compliance?
Do you ever call customer service for a company and get a message that the call may be recorded or monitored? Most likely this is a quality control function and something you may do in your own agency to measure your customer service or E&O exposure. Keep in mind that there are legal ramifications of…
Here’s what we do know about HIPAA: _____Here’s what we don’t know about HIPAA: ∞This article includes links to authoritative and otherwise web sites that may answer many of your questions about HIPAA compliance.
Has your agency started the implementation of security policies and procedures to meet HIPAA Security Rule requirements? What about other laws for essential security requirements? Have you developed your security training plans? Just what are these requirements? The answer comes right from the final security rule….
Buried in the Health Information Technology section of ARRA was legislation that will forever change how your agency handles information for your employee benefits clients. Following the HIPAA Privacy and Security Rules is not optional. As state attorney generals become more aware of how to pursue noncompliance by business associates the greater your chance of…
