As an emerging insurance agent, pointing out your customers’ various coverage needs can not only generate more income and a more committed client, but can also prevent a potential allegation that you failed to offer a vital coverage. This article highlights the difference between an agent’s servicing or selling.
Negligent security claims and other risk management problems plague today’s multifamily housing market. This article outlines the challenges facing multifamily housing owners, explains the standard of care allegations faced in court and offers solutions for reducing complex multifamily liability challenges. Understanding these challenges can help insurance agents educate their multifamily housing clients in the importance…
Every insurance policy has exclusions. In this article, we discuss the six main reasons for policy exclusions. This article covers those reasons and provides a few warning tips for insurance agents regarding disclosure of exclusions to policyholders.
Every insurance policy has exclusions. In this article, we discuss the six main reasons for policy exclusions. This article covers those reasons and provides a few warning tips for insurance agents regarding disclosure of exclusions to policyholders.
No matter the size of your client’s workforce, their management of the organization’s workers’ compensation injuries can be challenging. Every organization struggles to find new ways to reduce the number of injuries (frequency) and decrease the amount paid on claims (severity). Here are some suggestions that you can use in guiding your clients toward improved…
Citing “climate change, changing lifestyles and new technologies,” Verisk will update the Businessowners (BOP) program with “significant enhancements.” Read on for an overview of the expected changes.
The Big “I” Technical Affairs Committee (TAC) is one of the least publicized committees among the groups that work to improve agency operations and solve many types of insurance issues. TAC met with Verisk/Insurance Services Office (ISO) in 2023 with a full agenda of suggested coverage wording enhancements and changes. Read on to see how…
After taking a sharp hit at the start of the pandemic, small business formation has rebounded, giving insurers an opportunity to target new customers.The ISO Businessowners program was developed to help insurers support just such small-to-medium-sized enterprises. As part of the most significant update to the ISO Business owners program since its inception, we’re introducing…
A business transports people to various medical facilities such as routine doctor visits and other non-emergency appointments. How is the exposure arising from moving patients from the vehicle and into the medical facility, and vice versa, covered? Is it BAP or CGL? Is this a “loading and unloading” situation?
The Foundation for Community Association Research Factbook reported that 52.9% of U.S. housing was built prior to 1979, leading to aging roofs, failing plumbing, and more. “The habitational market has long been claim-ridden,” O’Connor Corrigan says. “High frequency, high severity—you know, the insurance covers accidents that are typically confined to one home, but now imagine…
