With today’s hard market, more agents place business with the surplus lines market. This article provides a basic overview of the importance of the surplus lines market, and some pitfalls to avoid when working in the surplus lines environment.
One of the biggest exposures for an errors and omissions claims arises from certificates of insurance. When providing additional insurance, under the commercial general liability policy replace the need for a waiver of subrogation endorsement? Read this article to find out.
The proper issuance of certificates of insurance is a common problem facing agents, whether they’ve been in the business for decades or they’re just entering the industry. This article provides solid, practical recommendations for the proper issuance of certificates from a highly experienced insurance consultant.
Certificates of Insurance
Recent settlements and jury verdicts against property owners and managers hit with premises liability claims continue to climb. Whether your clients own a tavern, a manufacturing plant, manage apartment complexes, or are homeowners, their current liability limits may be insufficient in today’s legal environment.
The NFIP has promulgated a new rating program for all flood policies – Risk Rating 2.0. The goal is to modernize flood rating using technology and history to develop somewhat customized premiums. There are major changes, a new world to which those seasoned in flood rating must adjust!
Agents may be asked to complete an addendum to a certificate of insurance; in fact, the agency may almost be forced to do so. Should the addendum be completed? The “ivory tower” answer is “no;” the correct answer is, “no;” but…. Sometimes agencies make decisions counter to the correct ones, if the agency plans to…
Can information inadvertently left on a Certificate of Insurance limit the breadth of protection extended from the policy? The real question is, does a COI alter coverage?
Flood insurance is a victim of politics. Information learned a few years ago may no longer apply. Stay current.
An agent asks – I received a proof of insurance request from Certificial. They no longer accept COIs. They require us to sign onto their platform and enter in their information and attach specific endorsements etc. Can we decline to submit policy information this way and force them to accept a standard Certificate? We have…
