Email evidence was a highly publicized part of the Microsoft antitrust case, with both sides resurrecting chatty notes that are several years old. The case has shed light on some sobering facts about email. Not only is it more than idle chatter, it’s also very hard to get rid of. In this article, Jack Fries…
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…
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…
When proof of insurance is requested, which is most appropriate, the ACORD 27 – Evidence of Property Insurance or the ACORD 75 – Insurance Binder?
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…
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…
